The multinational computer tech giant Oracle Corporation (NYSE:ORCL) moved higher on Tuesday after it delivered the Street with strong Q1 results. Also higher are shares of Workhorse Group Inc. (NASDAQ:WKHS) and Catalyst Pharmaceuticals (NASDAQ:CPRX). WKHS rose on a new patent approval and CPRX popped on its entry to the S&P SmallCap 600 index.
In reverse shares of Tyson Foods, Inc. (NYSE:TSN) have fallen after the stock was downgraded over fears of rising inflation.
Gainers
Oracle Corporation (ORCL) picked up 2.1% ahead of the opening bell as the stock delivered first-quarter results that surpassed expectations due to strength in its cloud, leading to praise from several Wall Street analysts. Looking ahead to the second-quarter, Oracle expects revenue growth to be between 15% and 17% year-over-year.
Workhorse Group Inc. (WKHS) is in the green in early market trading after the organization landed a patent from the United State Patent and Trademark Office that covers land vehicles incorporating impact management systems. As a result, WKHS tracked higher by 1.3%.
Shares of the Florida based biopharmaceutical firm Catalyst Pharmaceuticals (CPRX) popped 7.4% during Tuesday’s premarket trading session. CPRX gained as news came out that the company will be added to the S&P SmallCap 600 index.
Decliner
Tyson Foods, Inc. (TSN) dipped into the red by 0.7% after being downgraded by Argus. Argus downgraded TSN as its advising clients that rising inflation and a stronger dollar stand to dim the prospects for the company moving forward.
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