This Week: Oracle, Kroger results; Jobless claims

Jun 12, 2022, 10:00 PM | Updated: 10:17 pm

A look at some of the key business events and economic indicators upcoming this week:

Oracle 4Q

Software giant Oracle is expected to report Monday lower earnings in its fiscal fourth quarter. Analysts surveyed by FactSet forecast the owner of the Java development platform made $1.37 in the March-May quarter, down from $1.54 a year ago. The Austin, Texas-based company’s stock price has fallen nearly 15% since March, when Oracle reported disappointing third-quarter results.

Kroger 1Q

Cincinnati-based grocery chain Kroger reports its first-quarter results Thursday. Analysts surveyed by FactSet expect Kroger made $1.29 in the February-April quarter, up from $1.19 a year ago. Kroger shares jumped over 10% in March after it reported much higher earnings than Wall Street expected. Kroger also owns the Ralphs and Mariano’s grocery chains.

Unemployment tracker

The Labor Department issues its weekly tally of applications for unemployment benefits Thursday.

First-time applications for unemployment aid have been below the pre-pandemic level of 225,000 a week for most of this year. Claims rose to 229,000 two weeks ago, near an historically low level that reflects a robust U.S. labor market. Economists predict jobless claims held steady last week.

Initial jobless benefit claims, weekly, seasonally adjusted:

May 6: 197,000

May 13: 218,000

May 20: 211,000

May 27: 202,000

June 3: 229,000

June 11: (est.) 229,000

Source: FactSet

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Haitian migrant Gerson Solay, 28, carries his daughter, Bianca, as he and his family cross into Can...
Associated Press

US, Canada to end loophole that allows asylum-seekers to move between countries

President Joe Biden and Canadian Prime Minister Justin Trudeau on Friday announced a plan to close a loophole to an immigration agreement.
3 days ago
Expert skateboarder Di'Orr Greenwood, an artist born and raised in the Navajo Nation in Arizona and...
Associated Press

Indigenous skateboard art featured on new stamps unveiled at Phoenix skate park

The Postal Service unveiled the “Art of the Skateboard" stamps at a Phoenix skate park, featuring designs from Indigenous artists.
3 days ago
(Facebook Photo/City of San Luis, Arizona)...
Associated Press

San Luis authorities receive complaints about 911 calls going across border

Authorities in San Luis say they are receiving more complaints about 911 calls mistakenly going across the border.
9 days ago
(Pexels Photo)...
Associated Press

Daylight saving time begins in most of US this weekend

No time change is observed in Hawaii, most of Arizona, Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam and the Northern Marianas.
17 days ago
Mexican army soldiers prepare a search mission for four U.S. citizens kidnapped by gunmen in Matamo...
Associated Press

How the 4 abducted Americans in Mexico were located

The anonymous tip that led Mexican authorities to a remote shack where four abducted Americans were held described armed men and blindfolds.
17 days ago
Tom Brundy points to a newly built irrigation canal on one of the fields at his farm Tuesday, Feb. ...
Associated Press

Southwest farmers reluctant to idle farmland to save water

There is a growing sense that fallowing will have to be part of the solution to the increasingly desperate drought in the West.
24 days ago

Sponsored Articles

(Desert Institute for Spine Care in Arizona Photo)...
Desert Institute for Spine Care in Arizona

5 common causes for chronic neck pain

Neck pain can debilitate one’s daily routine, yet 80% of people experience it in their lives and 20%-50% deal with it annually.
...
Day & Night Air Conditioning, Heating and Plumbing

Company looking for oldest air conditioner and wants to reward homeowner with new one

Does your air conditioner make weird noises or a burning smell when it starts? If so, you may be due for an AC unit replacement.
...
Quantum Fiber

How high-speed fiber internet edges out cable for everyday use

In a world where technology drives so much of our daily lives, a lack of high-speed internet can be a major issue.
This Week: Oracle, Kroger results; Jobless claims