Trending tickers: Oracle, TSMC, Rigetti Computing, Currys and Watches of Switzerland

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8 hours ago

Shares in Oracle (ORCL) notched a fresh high on Wednesday, after it was reported that OpenAI had signed a data centre deal with the technology company.
In an Securities and Exchange Commission filing on Monday, Oracle said that CEO Safra Catz was expected to tell colleagues that the company's current fiscal year was off to a "strong start", with its MultiCloud database revenue continuing to grow at more than 100%.
In addition, Catz was expected to say that Oracle had signed multiple large cloud services agreements, including one that is expected to contribute more than $30bn (£21.9bn) in annual revenue starting in the 2028 financial year, but did not name the customer.
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Bloomberg reported on Wednesday that OpenAI had agreed to computing power from Oracle data centres as part of the Stargate initiative, citing people familiar with the work. This would reportedly total 4.5 gigawatts of data centre power in the US.
According to one of the sources, the Stargate agreement makes up at least part of the $30bn contract disclosed in the SEC filing on Monday.
A spokesperson for Oracle had not responded to Yahoo Finance UK's request for comment at the time of writing.
US-listed shares in TSMC (TSM) rose around 4% on Wednesday after Needham raised its price target on the chipmaker from $225 to $270 per share.
TSMC, which is the world's largest contract chipmaker, also got a boost from reports that Intel's recently appointed CEO was considering a major shift in its chip manufacturing process.
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Reuters reported that Intel (INTC) CEO Lip-Bu Tan was considering scrapping the American chipmaker's efforts for the 18A manufacturing process, which included enhancements that were meant to enable the company to compete with TSMC's capabilities.
Instead, Intel is reportedly exploring a change to the contract manufacturing business, which would mean offering outside customers a newer generation of technology. Reuters reported that analysts believe this process would be more competitive against TSMC in aiming to land key customers, such as Apple (AAPL) or Nvidia (NVDA).
Another tech stock in focus on Thursday was Rigetti Computing (RGTI), after it surged 15% in the previous session.
The jump came after Cantor Fitzgerald analyst Troy Jensen initiated a "overweight" rating on the Rigetti, along with two other quantum computing companies, according to a Barron's report.
Jensen reportedly said that the competitive ecosystem of quantum computing "positions Rigetti to benefit from the efforts of others". He also initiated "overweight" ratings on D-Wave (QBTS) and IonQ (IONQ).
On the London market, shares in Currys (CURY.L) jumped 7.5% on Thursday morning, as the electronics retailer reported stronger sales and profits for the past year.
Currys posted group adjusted profit before tax of £162m ($221m), which was up 37% year-on-year, while group revenue of £8.7bn was up 3%.
In addition, the company said trading in the early part of the new financial year has been in line woth expectations.
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Dan Lane, lead analyst at Robinhood UK, said: "What a year for Currys. Profits before tax are in rude health and net cash of £184m gives the balance sheet a solid basis to make even bigger strides this year.
"UK consumer confidence is growing and if it has bottomed, Currys could benefit even more from Britons feeling happier to spend on bigger electrical purchases. Inflation is subsiding and while wage growth is slowing, consumers are clearly considering the worst hits to their pockets to be behind them."
FTSE 250-listed (^FTMC) company Watches of Switzerland (WOSG.L) fell 6.4% on Thursday morning, after the retailer reported a fall in annual pre-tax profits.
Watches of Switzerland reported record revenue of £1.65bn for year ended 27 April, which was up 8% year-on-year. However, statutory profit before tax was down 18% to £76m.
Barclays analysts, which have an "overweight" rating on the stock, said in a note on Thursday that there were "no fireworks" in the results but the fact that the company's guidance is close to consensus is "reassuring".
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They said: "Whilst we have lowered our forecasts slightly, this is largely FX driven, and the mid-point of the company's guidance (at constant currency) is close to company consensus. We do not believe that these results move the investment debate on substantially. We now forecast PBT (profit before tax) in FY26 of £137m, a fraction higher than £136m reported in FY25."
"This is clearly a long way off the growth delivered during the company's stronger years, but given the potential headwinds from tariffs, we believe that if broadly flat profits can be delivered, it would remove some of the more significant downside scenarios and investor concerns," Barclays' analysts added.
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