Oracle Corporation (NYSE:ORCL) fell -6.3% in pre-market trading to $42.20 after the technology giant missed both revenue and EPS estimates in its fiscal fourth quarter 2015 earnings released yesterday. Oracle posted revenue of $10.71 billion compared to the analyst estimate of $10.96 billion, and non-GAAP EPS of $0.78 compared to the analyst consensus of $0.87. Oracle attributed the miss to the rising strength of the U.S. dollar. In light of the earnings report, analyst Daniel Ives of FBR Capital lowered his price target on the stock from $48 to $44, though he maintained an Outperform rating on the stock in hopes of the company bouncing back.
Advanced Micro Devices, Inc. (NASDAQ:AMD) climbed 2.4% to $2.53 after the semiconductor company announced a new generation of Radeon graphic cards at the Electronic Entertainment Expo, or E3 conference, in Los Angeles. AMD unveiled its new Radeon R9 Fury, R9 300 series, and the R7 300 series. The majority of analysts, such as analyst Christopher Rolland of FBR Capital, remain on the sidelines of AMD. Yesterday, Rolland reiterated a Market Perform rating on the stock with a $3.50 price target due to concerns surrounding the declining PC market.
Synergy Pharmaceuticals Inc (NASDAQ:SGYP) shares increased 3.3% to $8.01, adding to the 68% increase yesterday due to the company’s announcement detailing positive results in the first Phase 3 trial of Plecanatide, a therapy in pill aimed to treat constipation. In light of this news, Cantor Fitzgerald analyst Irina Rivkind Koffler reiterated a Buy rating on the stock and raised her price target from $8 to $14.50. This has increased the average 12-month price target to $12.50, marking a 60% potential upside from where the stock is currently trading.
Juno Therapeutics Inc (NASDAQ:JUNO) shares increased 2.2% in pre-market trading to $52.48 after Maxim Group analyst Jason McCarthy initiated coverage on the stock with a Buy rating and a $78 price target. McCarthy believes that Juno’s pipeline has significant potential to treat solid tumors and predicts that two of its pipeline drugs will receive approval by 2017. According to TipRanks, three analysts currently have Buy ratings on JUNO with an average 12-month price target of $72.67, marking a 41% upside from where the stock is currently trading.