ORACLE Q2 EARNINGS — KEY NUMBERS

ADJ REVENUE: $16.06B (vs est. $16.21B — MISS)

ADJ EPS: $2.26 (vs est. $1.64 — BIG BEAT)

ADJ OPER INCOME: $6.72B (vs est. $6.82B — SLIGHT MISS)

ADJ OPER MARGIN: 42% (vs est. 42.2%) — INLINE

CLOUD REVENUE (TOTAL IaaS + SaaS): $8.0B (vs est.
(@FirstSquaw)

ADOBE Q4 EARNINGS — IMPORTANT ONLY

REVENUE: $6.19B (est $6.11B)

ADJ EPS: $5.50 (est $5.39)

RPO: $22.52B (est $22.28B)

GUIDANCE

Q1 REVENUE: $6.25B–$6.30B (est $6.24B)

Q1 ADJ EPS: $5.85–$5.90 (est $5.66)

2026 REVENUE: $25.9B–$26.1B (est $25.9B)
(@FirstSquaw)

ADOBE Q4 EARNINGS

REVENUE: $6.19B (est $6.11B)

ADJ EPS: $5.50 (est $5.39)

RPO: $22.52B (est $22.28B)

GUIDANCE

Q1 REVENUE: $6.25B–$6.30B (est $6.24B)

Q1 ADJ EPS: $5.85–$5.90 (est $5.66)

2026 REVENUE: $25.9B–$26.1B (est $25.9B)
(@FirstSquaw)

OIL REBOUNDED AS THE US SEIZURE OF A VENEZUELAN TANKER RAISED SHORT-TERM SUPPLY RISK, THOUGH GAINS WERE CAPPED BY PERSISTENT GLOBAL OVERSUPPLY.
(@FirstSquaw)

GLOBAL MARKETS RALLIED AS THE FED DELIVERED A THIRD STRAIGHT RATE CUT, SIGNALED CONFIDENCE IN ECONOMIC GROWTH, AND FRAMED THE MOVE AS A CAUTIOUS NORMALIZATION RATHER THAN THE START OF AGGRESSIVE EASING.
(@FirstSquaw)

US BLUEPRINT TO REWIRE ECONOMIES OF RUSSIA & UKRAINE SPARKS CLASH WITH EUROPE — WSJ.
(@FirstSquaw)

COCA-COLA WILL NAME HENRIQUE BRAUN AS CEO IN 2026, WITH JAMES QUINCEY BECOMING EXECUTIVE CHAIRMAN AND BRAUN SET FOR BOARD NOMINATION AT THE 2026 ANNUAL MEETING.
(@FirstSquaw)

BONDI: U.S. EXECUTED SEIZURE WARRANT FOR TANKER CARRYING SANCTIONED VENEZUELAN AND IRANIAN OIL.
(@FirstSquaw)

GOOGLE: ANNOUNCES MAJOR UPGRADES TO GEMINI 2.5 FLASH AND GEMINI 2.5 PRO TTS PREVIEW MODELS.
(@FirstSquaw)

ORACLE EXPECTS ACCELERATING GROWTH IN Q3, FORECASTING 37%–41% CLOUD REVENUE GROWTH, 16%–18% TOTAL REVENUE GROWTH, 12%–14% PROFIT GROWTH, AND LIFTING FISCAL 2026 CAPEX BY ABOUT $15B ABOVE ITS INITIAL OUTLOOK.
(@FirstSquaw)

US HOUSE PASSES $901B NDAA DEFENSE BILL IN A 312–112 VOTE; SENATE CONSIDERATION IS NEXT.
(@FirstSquaw)

BREAKING: BINANCE FOUNDER CZ's BOOK HAS ALLEGEDLY BEEN LEAKED. https://t.co/FCaANmK6WM
(@FirstSquaw)

JAPAN FIRMS SAY STRAINED TIES WITH CHINA ARE THEIR TOP CONCERN FOR 2026, PER A JAPAN CORPORATE SURVEY.
(@FirstSquaw)

JAPAN FIRMS SAY ABOUT 40% OF JAPAN FIRMS EXPECT EARNINGS GROWTH NEXT YEAR, FAR OUTNUMBERING BEARISH VIEWS, AND TWO-THIRDS SUPPORT THE PRIME MINISTER’S FLEXIBLE FISCAL TARGET PLAN, PER A SURVEY.
(@FirstSquaw)

HONG KONG MONETARY AUTHORITY CUTS BASE RATE BY 25 BPS TO 4.0%, MATCHING THE U.S. FED MOVE.
(@FirstSquaw)

MOSCOW MAYOR: AIR DEFENCE DESTROYED 10 UKRAINIAN DRONES OVER EVENING AND NIGHT.
(@FirstSquaw)

GOLD HELD NEAR $4,230 AN OUNCE AS A DOVISH FED DELIVERED ITS THIRD STRAIGHT RATE CUT, PUSHING YIELDS AND THE DOLLAR LOWER WHILE REINFORCING SUPPORT FOR PRECIOUS METALS.
(@FirstSquaw)

OIL ROSE AFTER THE US SEIZED A SANCTIONED VENEZUELAN TANKER, HEIGHTENING GEOPOLITICAL RISK EVEN AS OVERSUPPLY CONCERNS PERSIST.
(@FirstSquaw)

JAPAN EARLY TRADE: NIKKEI FUTURES UP 0.24%; 10-YR JGB FUTURES UP 0.17 POINT.
(@FirstSquaw)

UK RICS HOUSE PRICE BALANCE FOR NOVEMBER SHOWED A -16% DECREASE, MORE POSITIVE THAN EXPECTED BUT STILL LOWER THAN PREVIOUS MONTH'S -19% AND THE ESTIMATED -21%.
(@FirstSquaw)

JAPAN SECURITY FLOWS (W/O DEC 5)

Japan Buying Foreign Bonds: ¥452.9B (prev -¥771.3B)

Japan Buying Foreign Stocks: -¥64.5B (prev ¥96.6B)

Foreign Buying Japan Bonds: -¥442.6B (prev ¥1063.7B)

Foreign Buying Japan Stocks: ¥96.8B (prev ¥655.6B)
(@FirstSquaw)