Oracle Drops After Mixed Q2 Report

Oracle Corporation ORCL shares are trading lower by $1.95 (4.7 percent) at $38.91 in Friday's session. The Street is placing more emphasis on its slight revenue miss than its Q2 EPS beat of penny. It appears that Street wanted to see a bigger improvement in its cloud business.

Its lower opening tick of $40.22 has turned out to be the high for the session as the issue found more and more sellers. It has continued to make new lows for the session, with the current one standing at $38.88. That matches its low from December 6.

If the decline continues, there may be minor support at its December 5 low ($38.54) and additional support at its December 2 low ($37.64).