Oracle Surges; Kyndryl, Hims & Hers Health Plummet
Stock Movers9 Feb

Oracle Surges; Kyndryl, Hims & Hers Health Plummet

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Oracle (ORCL) shares extended their rebound on Monday, as ramped up capex spending by US technology giants helped soothe nerves over the threat posed to the company by developments in artificial intelligence. Shares in the software bellwether rallied as much as 12%, their biggest intraday rise since Sept. 10. Even with that move — which came on the heels of Amazon.com Inc.’s pledge to spend $200 billion this year on data centers, chips and other equipment — the stock is down around 50% from its September highs.

- Kyndryl (KD) shares plunged Monday morning after the company announced key leadership exits and a review of its accounting practices. The stock fell a record 57% before being briefly halted for volatility on news that Kyndryl Chief Financial Officer David Wyshner had left the position and that General Counsel Edward Sebold departed the post, effective immediately. On the same date, Vineet Khurana stepped down as senior vice president and global controller of the company and moved to a different role.

- Hims & Hers Health (HIMS) stock plummeted Monday after Novo Nordisk filed a lawsuit, claiming the online pharmacy is "deceiving patients" with its compounded diabetes and weight-loss drugs.
But it's still not clear that Novo Nordisk will ultimately win out against Hims & Hers Health, Leerink Partners analyst David Risinger said in a report.

See omnystudio.com/listener for privacy information.

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