By Weixin Lin
Publication Date: 2026-05-04 04:44:00
What happened?
Shares of enterprise software giant Oracle (NYSE:ORCL) rose 5.2% in the morning after strong earnings and bullish forecasts from several peers boosted the broader software sector.
The gains appeared to be driven by positive sentiment across the software-as-a-service (SaaS) space. For example, enterprise software maker Atlassian saw its shares rise after raising its full-year forecast, which in turn boosted rivals like Salesforce and ServiceNow. Similarly, Twilio shares rose after the company reported first-quarter revenue that beat estimates and raised its own forecast, with the CEO highlighting artificial intelligence as a catalyst. This positive news from peers helped create a favorable environment for software stocks, which some strategists said had underperformed the broader market and may be poised for a comeback.
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