Oracle stock booms 40%, on pace for best day since 1992
Oracle stock roared 40% higher Wednesday, after reporting gobsmacking cloud demand numbers, setting the company on track for a historic gain. The cloud giant is on pace for its best day since 1992, and is now quickly approaching the $1 trillion market cap benchmark. Oracle is now at $950 billion. The company said it has $455 billion in remaining performance obligations, up 359% from a year earlier. "This is a very historic kind of print right here from Oracle with this backlog," Ben Reitzes,