Oracle Stock Jumps on AI-Fueled Earnings Beat; ACV Auctions Soars on $1.9B Copart Deal

Oracle shares surged in premarket trading Friday after the tech giant reported stellar quarterly results driven by booming demand for its AI-focused cloud infrastructure. Meanwhile, ACV Auctions saw its stock soar following the announcement of a $1.9 billion all-cash acquisition by vehicle remarketing firm Copart.

Oracle Surges on AI-Driven Cloud Growth

Oracle (ORCL) stock climbed 6.3% in premarket action after the company announced fiscal first-quarter 2027 results that surpassed Wall Street expectations. The strong performance was largely attributed to the rapid expansion of its cloud services, fueled by demand for artificial intelligence workloads.

Key figures from the report include:

• Revenue: $19.35 billion, topping the consensus estimate of $19.13 billion.
• Adjusted Earnings Per Share (EPS): $1.92, comfortably ahead of the expected range of $1.73 to $1.75.

The company’s cloud infrastructure division was the standout performer, with revenue jumping 121% year-over-year to $7.4 billion. Underscoring the robust demand, Oracle said it secured approximately $30 billion in new AI-related contracts during the quarter and raised its full-year fiscal 2027 revenue guidance to above $90 billion.

M&A Activity Lifts ACV Auctions

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Shares of ACV Auctions (ACVA) skyrocketed 43.6% after Copart (CPRT) announced a definitive agreement to acquire the online automotive marketplace. The all-cash transaction is valued at approximately $1.9 billion.

Under the terms of the deal, Copart will initiate a tender offer to acquire all outstanding ACV Auctions shares for $10.50 in cash. The acquisition news also provided a boost to Copart's shares, which gained 6.2% in premarket trading despite the company reporting quarterly earnings that missed analyst estimates.

Other Notable Premarket Movers

In other market-moving news, Adobe (ADBE) shares fell 2.8%. The decline came after the software company issued a fourth-quarter revenue outlook that disappointed investors, overshadowing a stronger-than-expected fiscal third-quarter earnings report. Adobe also announced that CEO Shantanu Narayen will transition to Executive Chair, with Anil Chakravarthy set to become President and CEO on Dec. 1, 2026.

Chewy (CHWY) shares slipped 1.9% after JPMorgan downgraded the online pet retailer to Neutral from Overweight. The bank cited pressure on growth from broader economic headwinds and weakening trends in discretionary consumer spending.