Yahoo Finance Trending tickers: Boeing, Oracle, Persimmon and Pets at Home
The latest investor updates on stocks that are trending on Tuesday
Boeing (BA)
Boeing shares were in the red in extended trading after reports that prosecutors in the United States have opened a criminal investigation into the mid-flight blowout involving a Boeing 737 MAX operated by Alaska Airlines.
The Department of Justice's (DOJ) investigation will delve into Boeing's recent production and manufacturing mishaps, which have also impacted the broader airline industry, from flight availability to crew employment and ticket prices, according to the Wall Street Journal.
The investigation comes as Boeing is under scrutiny over its safety record following a series of incidents, including two fatal crashes involving the Boeing 737 MAX in 2018 and 2019.
Read more: Stocks that are trending today
The DOJ probe will inform authorities’ assessment of whether Boeing has complied with the terms of a $2.5bn (£1.95bn) settlement to avoid prosecution in relation to those crashes.
Oracle (ORCL)
Shares in Oracle jumped 13% in extended trading as the software company reported quarterly earnings that exceeded Wall Street’s expectations.
The rally in Oracle's shares added around $40bn to its stock market value.
Excluding items, the company posted profit of $1.41 per share for the third quarter, up 16%. However, revenue of $13.28bn for the three months ended 29 February was below analysts' average estimate of $13.30bn.
For the fiscal fourth quarter, Oracle said it expects earnings of $1.62 to $1.66 per share.
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Oracle CEO Safra Catz said the company was committed to hitting previously stated goals of $65bn in sales by fiscal 2026. “Some of these goals might prove to be too conservative given our momentum,” she said.
Oracle also told analysts to expect a joint announcement with chip giant Nvidia (NVDA).
Persimmon (PSN.L)
Shares in Persimmon were down after the housebuilder revealed that annual profits have more than halved, and warned 2024 will be another difficult year.
The company only completed 9,922 homes last year, compared to 14,868 in 2022.
Underlying operating profit fell to £354.5m compared to £1bn last year, while revenue dropped to £2.8bn against £3.8bn recorded for 2022.
Read more: UK wage growth slowdown fuels Bank of England interest rate cut bets
The group said the housing market is set to “remain subdued” and “challenging” in 2024, with little sign of a pick-up ahead of a general election and with interest rates still at their highest since the 2008 financial crisis.
Pets at Home (PETS.L)
Shares in the pet store chain were down after the UK regulator warned that pet owners may be paying too much for their animals' drugs.
The Competition and Markets Authority (CMA) said it was launching a formal market investigation after an initial review of the vets market raised “multiple concerns”.
“We have heard concerns from those working in the sector about the pressures they face, including acute staff shortages, and the impact this has on individuals,” CMA boss Sarah Cardell said.
“But, our review has identified multiple concerns with the market that we think should be investigated further.”
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It also identified concerns about weak competition in some areas, due to concentrated local markets and incentives for large corporate groups to act in ways which may reduce choice for consumers.
Depending on the findings, UK vet groups could be forced to cap prescription fees or sell off parts of their business.
Watch: Oracle: 'Stick with' AI infrastructure, strategist explains
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