Market Summary - March 11, 2026

Overview

On March 11, 2026, Wall Street exhibited mixed sentiments amid ongoing tensions related to the Iran war. The S&P 500 futures experienced a slight decline of 0.1% following the release of February's US inflation data, which aligned with market expectations. Additionally, the International Energy Agency proposed the release of strategic oil reserves, contributing to market fluctuations. Notably, comments from former President Donald Trump indicated a potential resolution to the conflict, although reports suggested that hostilities could persist for several more weeks.

Corporate Highlights

• Oracle (ORCL.US): Shares surged by 10% after the company reported better-than-expected fiscal Q3 2026 results, with revenue reaching $17.19 billion, surpassing forecasts. The company raised its fiscal 2027 revenue outlook to $90 billion, driven by strong demand for AI infrastructure.
• Tesla (TSLA.US): Stock rose by 0.5% as the company accelerated its AI agent project.
• AeroVironment (AVAV.US): Shares fell over 12% due to weaker-than-expected third-quarter revenue and a lowered full-year guidance.
• Alliant Energy (LNT.US): Gained 0.3% after RBC Capital Markets initiated coverage with an outperform rating.
• Campbell’s (CPB.US): Declined by 5% after cutting its full-year adjusted earnings-per-share outlook.
• CarMax (KMX.US): Increased by 7% following the disclosure of a significant stake by activist investor Starboard Value.
• Intuitive Surgical (ISRG.US): Gained 0.3% after Citi upgraded the stock to buy.
• Nike (NKE.US): Climbed 2% after Barclays raised its rating to overweight.
• Serve Robotics (SERV.US): Rose 13% following better-than-expected fourth-quarter results and improved guidance.
• Upstart (UPST.US): Gained 2% after announcing plans to apply for a US national bank charter.
• uniQure (QURE.US): Increased by 2% after Mizuho upgraded the stock to outperform.

Oracle's Financial Performance

Oracle's strong performance in fiscal Q3 2026 included:

• Revenue of $17.19 billion, exceeding analyst expectations of $16.9 billion and up from $14.1 billion year-over-year.
• Earnings per share (EPS) of $1.79, surpassing expectations of $1.70.
• Cloud segment revenue of $8.9 billion, slightly above market estimates, with cloud infrastructure revenue reaching $4.9 billion.
• Contract backlog of $553 billion, indicating robust demand for AI and cloud services.

Despite the positive results, Oracle's stock has faced pressure, having fallen approximately 54% over the past six months and 23% since the beginning of the year. The company is significantly increasing its investment in AI data centers, with capital expenditures surging 269% in one quarter to $8.5 billion, and full-year CAPEX projected to reach $50 billion. Reports suggest potential job cuts to finance this expansion.