Oracle Slips, Alphabet Leads Tech Rally, Centene Jumps

Stock Movers

On this episode of Stock Movers:
Oracle (ORCL)

  • Oracle credit-default swaps -- cost of protecting Oracle's debt against default rose to the highest in more than three years
  • Oracle's AI spending spree is raising questions over how exactly the company is going to fund its deals, especially since it has a weaker credit rating than Microsoft or Alphabet -- it's quickly emerging as the credit market’s barometer for AI risk
  • Stock slumped 11% last week, six-week stretch of declines -- losses also caused a $130 billion hit to Larry Ellison's net worth after the rally in September briefly made him the world's riches person


Alphabet (GOOGL)

  • Leads the rally on Monday given continued optimism over the latest version of its Gemini AI model
  • Last week: The Information reported that OpenAI CEO Sam Altman recently told colleagues that Alphabet’s progress in AI could “create some temporary economic headwinds for our company”
  • Bloomberg Intelligence: excess returns year-to-date are the weakest among investment grade tech peers excluding Oracle; consequence of its considerable defensive credit characteristics and tight spreads vs. fundamentals


Centene (CNC)

  • Climbing with other health insurers after Politico reported the White House is expected to propose a two-year extension of Obamacare subsidies with new limits on eligibility
  • MS NOW also reported that President Donald Trump is expected to announce a general framework to address health care costs and spikes in ACA insurance premiums
  • Centene offers health insurance plans under the Affordable Care Act (ACA) marketplace

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2025-11-24 4 min Transcript

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