Investors will watch out for the SaaS apocalypse continuing from Monday’s rebound. Led by Oracle (ORCL), whose shares gained 12.69%, investors bet that the software sell-off ended.
Oracle jumped after investors reacted to last Thursday’s agentic application release news. It launched new solutions that covered key departments, such as finance and supply chain management.
Fair Isaac (FICO) added 8.52% to close at $1,000.91. The firm did not post any press releases. In the storage space, Sandisk (SNDK) soared by 11.83% on Monday. Shares might be added at least 3% today, following through from Evercore’s “Outperform” rating. Evercore ISI set a $1,200 price target. Their bull case is $2,600. SNDK stock trades at a forward P/E of 20.2 times.
Among the stocks that investors that might bounce back, look at Fasternal (FAST). Shares fell by nearly 7% after the firm posted a challenging second-quarter outlook. In Q1, revenue grew by 12.4% to $2.2 billion. Daily sales increased 12.4% Y/Y. It benefited from strong manufacturing and non-residential construction end markets. Pricing likely plateaued, pressuring this quarter’s performance.
Food supplier Conagra Brands (CAG) touched a 52-week low. Investors sold the stock after it hired John Brase, from J.M. Smucker (SJM), as CEO.
Edison International pulled back yesterday and might re-test $70 support levels next.
