Shares of Oracle surged over 10% following President Donald Trump's announcement of a groundbreaking joint venture aimed at bolstering U.S. artificial intelligence infrastructure. The venture, named "Stargate," will see collaboration between OpenAI, Oracle, and Softbank, with potential investments reaching up to $500 billion.
In contrast, Johnson & Johnson faced a decline, with shares dropping more than 2% as the company's sales forecast for the year fell short of analyst expectations. The company reported revenue of $10.56 billion, missing the LSEG consensus estimate of $10.79 billion.
Seagate Technology's stock jumped approximately 10% after the company announced impressive fiscal second-quarter results. Seagate exceeded estimates, reporting earnings of $2.03 per share on revenue of $2.33 billion, surpassing analyst expectations.
Procter & Gamble also saw a favorable response from investors, with shares rising 3% after the company reported better-than-expected fiscal second-quarter results. Procter & Gamble posted earnings per share of $1.88 on revenue of $21.88 billion, surpassing analyst predictions of $1.86 per share and $21.54 billion in revenue.
Additionally, Nvidia experienced a gain of more than 4%, while GE Vernova's power turbine maker reached an all-time high with a 2.2% increase, fueled by fourth-quarter earnings of $1.73 per share.
Conversely, Ford's shares declined by over 3% following Barclays' decision to downgrade the company's rating from overweight to equal weight.
Netflix soared nearly 12%, reaching an all-time high due to its outstanding fourth-quarter results. The streaming giant reported earnings per share of $4.27 on revenue of $10.25 billion, exceeding analyst estimates.
Likewise, Travelers' shares rose about 4%, driven by strong fourth-quarter performance. The company reported earnings of $9.15 per share, significantly surpassing analyst expectations of $6.64 per share.
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