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Stock Alert: Oracle Shares Hit 52-Week High

Shares of the business software giant Oracle Corp. (ORCL) touched a 52-week high of $61.86 Friday morning, and are currently trading at $61.00, up $3.67 or 6.39% in the regular trading session.

The company, on Thursday, reported first-quarter results that surpassed Wall Street estimates, driven by demand for cloud services. Adjusted earnings were $2.9 billion or $0.93 per share. Revenues for the quarter rose 2% to $9.34 billion. Analysts expected earnings of $0.86 per share and revenues of $9.19 billion.

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