In after-hours trading, Oracle’s shares surged nearly 9% after announcing cloud deals with Google and OpenAI, despite missing analysts’ expectations for its fiscal fourth-quarter results. The tech company reported adjusted earnings of $1.63 per share on revenue of $14.29 billion, falling short of the anticipated earnings of $1.65 per share on $14.55 billion in revenue. Rubrik, a cloud data management company, saw its shares rise by 3% after exceeding first-quarter revenue expectations. The company reported $187 million in revenue, surpassing the $172 million predicted by analysts.
Rentokil Initial, the parent company of Terminix, experienced a nearly 7% jump in its shares after Nelson Peltz’s Trian Partners revealed a significant stake in the pest-control giant, making them a top-10 shareholder. Trian Partners aims to collaborate with Rentokil’s leadership on strategies to enhance shareholder value. However, shares of Paramount, a company controlled by Shari Redstone’s National Amusements, declined by 0.4% in after-hours trading, extending late-day losses. National Amusements ceased talks with Skydance regarding a potential merger with Paramount, leading to a 7.9% drop in the stock price during the session.
Overall, Oracle, Rubrik, Rentokil Initial, and Paramount were among the companies making headlines in after-hours trading due to various developments. Oracle’s cloud deals with Google and OpenAI drove its stock higher despite missing earnings expectations, while Rubrik exceeded revenue forecasts for the first quarter. Rentokil Initial’s shares rose significantly after Trian Partners revealed a notable stake in the company and expressed interest in working with leadership to enhance shareholder value. However, Paramount faced declines in its stock price after National Amusements ended discussions with Skydance on a potential merger. These events showcase the volatility and impact of company news on stock performance in after-hours trading. Investors should closely monitor such developments to make informed decisions regarding their portfolios.
