Oracle (ORCL) is in the red despite announcing $638 billion in orders. Is the market wrong about this?

Oracle Corporation (NYSE:ORCL) is one of the 10 Stocks That Can Still Soar Despite the Neo-Cloud Boom. On June 11, Oracle Corporation (NYSE:ORCL) secured a $395.8 million contract from the US Office of Personnel Management. As part of the agreement, the company will provide a new government-wide workforce platform powered by its Oracle Fusion Cloud Human Capital Management software. The platform will support OPM’s Federal HR 2.0 initiative and is expected to replace more than 100 separate HR systems currently in use across federal agencies. It will serve as a single, central system of record for managing workforce data and operations across the federal government.

The news came as Oracle Corporation (NYSE:ORCL) reported its fourth-quarter results on June 11. The company reported 21% revenue growth, reaching $19.2 billion. Non-GAAP…