| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for Oracle Corp. > News item |
Morning Commentary: Oracle firms on earnings results; Visa better; three-month Libor yield up
By Cristal Cody
Tupelo, Miss., Dec. 17 – High-grade bonds remained mostly better in early secondary trading on Thursday following the Federal Reserve’s rate hike decision in the previous session.
Oracle Corp.’s 2.95% senior notes due 2025 tightened going out on Wednesday and continued to firm in trading at the start of the session after the company beat fiscal second-quarter earnings forecasts.
Visa Inc.’s 3.15% senior notes due 2025 firmed about 4 bps in the secondary market.
The three-month Libor yield was up 1 bp at 53 bps over the morning.
Oracle tightens
Oracle’s 2.95% notes due 2025 firmed 5 bps to 103 bps offered in the secondary market early Thursday, a source said.
The bonds traded late Wednesday afternoon 4 bps better at 113 bps bid ahead of the release of Oracle’s earnings.
Oracle sold $2.5 billion of the notes (A1/AA-/A+) on April 28, 2015 at 100 bps over Treasuries.
Oracle reported after the market closed on Wednesday earnings per share of 63 cents, down from the 69 cents per share it posted a year ago but better than the 60 cents per share analysts forecasted. The company reported $9 billion of revenue in the second quarter compared to the $9.61 billion posted in the same period a year ago.
The computer software and technology company is based in Redwood City, Calif.
Visa firms
Visa’s 3.15% notes due 2025 traded about 4 bps tighter at 91 bps offered, according to a market source.
The company sold $4 billion of the notes (A1/A+) on Dec. 9 at a spread of Treasuries plus 97 bps.
The retail electronic payments network operator is based in San Francisco.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.