Cerner Financial News

Epsilon has appointed Pratik Nath the Managing Director of the company’s India operations, the company said in a statement on Thursday.

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Oracle sank 9% on Tuesday, after a weak forecast suggested strong competition in the cloud-computing industry and a digital spending pullback were weighing on its revenue growth. The company was on track to lose about $30 billion in market value, based on its premarket share price of $115. The stock has risen 55% this year on optimism the rise of generative AI would drive up cloud demand. Lower-than-expected revenue for the first quarter and a below-estimate forecast for the second, however, signaled the boost from AI would take longer to materialize. Oracle, known for its database software, has been playing catch-up with cloud majors such as Amazon Web Services, Microsoft's Azure and Alphabet's Google Cloud at a time businesses are dialing back tech spending over concerns about the economy. CEO Safra Catz also warned of near-term weakness in revenue growth at the Cerner health records business, which Oracle bought for $28.3 billion last year.

By Milana Vinn

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