Stock Market Today, Sept. 24: Oracle Stock Dips As it Issues Force Majeure Notice on Project Jupiter Data Center
By newsfeedback@fool.com (Josh Kohn-Lindquist)
Read original article on Motley FoolOracle (NYSE:ORCL), an enterprise cloud software and AI infrastructure provider, closed at $139.53, down 3.48%. Oracle fell after reports said it sent a force majeure notice tied to its New Mexico Project Jupiter data center, while investors await December earnings. Trading volume reached 56.2M shares, coming in about 68% above its three-month average of 33.4M shares.
S&P 500 (SNPINDEX:^GSPC) closed at 7,704, down 0.03%, while Nasdaq Composite (NASDAQINDEX:^IXIC) closed at 26,939, up 0.01%. Among enterprise application software, database software, and cloud infrastructure peers, Salesforce (NYSE:CRM) closed at $238.40, up 0.35%, while ServiceNow (NYSE:NOW) closed at $137.81, down 2.11%, showing mixed trading across the group.
Oracle stock dropped 3.5% today after the company sent a force majeure notice to Stack Infrastructure, the developer of a massive data center overlay (Project Jupiter) in New Mexico. With ORCL stock already leaning heavily upon debt to fund its AI ambitions, the company's credit default swaps hit a record high as the market took today's news as a worrying signal.
This story was originally published on Motley Fool. DennTech aggregates headlines from top crypto publications to keep traders informed.
Read full article on Motley Fool