5 Biggest Losers Today

2. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 69

Shares of Oracle Corporation (NYSE:ORCL) marginally moved down after the opening bell on Tuesday. The drop came after the Texas-based tech giant missed profit expectations for its fiscal first quarter.

Oracle Corporation (NYSE:ORCL) blamed the strong U.S. dollar for hurting its results. The company reported adjusted earnings of $1.03 per share, missing the consensus of $1.07 per share. Revenue for the quarter rose 18 percent on a year-over-year basis to $11.2 billion, almost in line with the consensus.

Moving forward, Oracle Corporation (NYSE:ORCL) expects a strong U.S. dollar to impact its revenue by 5 – 6 percent in the current quarter.

Moreover, Oracle Corporation (NYSE:ORCL) also made an important announcement along with its latest earnings. The company’s CTO, Larry Ellison, said in a statement:

“Today we are also announcing that Amazon Web Services customers can directly access Oracle’s MySQL HeatWave database running in the Amazon Cloud. This enables AWS users to run transaction processing, real-time analytics, and machine learning on the single unified MySQL service.”