European Union leaders at their summit in Brussels earlier today agreed to move to the second phase of talks with the U.K. over its brexit. Leaders of the 27 member states determined that enough progress in negotiations has been made in recent months and they are ready to start discussing trade and other issues.
The New York Fed reports its Empire State manufacturing index fell slightly in December to 18 from November’s 19.6. Readings above zero indicate improving conditions, though it’s the second drop in a row. New orders and number of employees fell while shipments and average workweek both rose.
Shares of database company Oracle are off 4% to $48.02 a share. It reported earnings after the close yesterday . Oracle had fiscal second quarter revenue of $9.63 billion (up 6% annually) and adjusted EPS of $0.70, topping consensus analyst estimates of $9.57 billion and $0.68. But Oracle forecast its total cloud app and service revenue — some of which cuts into traditional Oracle license revenue — would rise only 21% to 25%. That’s below the consensus that cloud revenue would 42% to $1.69 billion.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
