Oracle Drops, Alibaba Soars, Adobe Drops on Morgan Stanley Downgrade
On this episode of Stock Movers:- Oracle (ORCL) shares drop after Oracle said it is seeking to borrow $15 billion from the US investment-grade bond market on Wednesday, as the software maker ramps up its spending to meet the needs of the AI boom.- Alibaba (BABA) shares surged to their highest in nearly four years after revealing plans to ramp up AI spending past an original $50 billion-plus target.- Adobe (ADBE) shares drop after Morgan Stanley downgraded to equal-weight from overweight on decelerating digital media annual recurring revenue.See omnystudio.com/listener for privacy information.
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