Oracle Surges After Q4 Beat

Oracle Corporation ORCL shares are trading higher by $1.60 at $40.34 in Wednesday's session. The catalyst for the rally is a Q3 beat of $0.02 with inline revenues. The company added $10 billion to its buyback plan.

After a higher open, it retreated only $0.02 to $39.53 before resuming its move higher. So far, it reached $40.94 and has drifted back into the lower $40 handle.

This the closest the issue has been to the $41 level since July 2015, when it peaked at $41.02.