Oracle's shares dropped more than 9% pre-market, despite reporting solid quarterly earnings and strong AI growth. Wall Street reacted negatively to the company's plan to spend 0 billion on capital expenses, significantly more than anticipated. This massive investment is primarily for building out data centers to support its most important customer, OpenAI, as Oracle repositions itself as a computing power provider. This comes after the stock had already climbed 35% in the preceding three months.\n\nHugo Boss saw its stock rally by 9% following news that Frasers Group of England, backed by billionaire Mike Ashley, made a bid of approximately .3 billion to acquire the remaining stake in the German fashion label. Frasers Group already owns about 26% of Hugo Boss and seeks to add it to their portfolio. This move is seen by Bloomberg Intelligence as potentially leading to further consolidation in the fashion industry, as suggested by KPMG's Julia Wilson.\n\nOnline personal styling service Stitch Fix experienced a 1.3% increase in its stock, indicating a successful turnaround initiated by CEO Matt Baer. The company has reversed a decline in clients, revamped personal shopping features, improved customer experience, and is now posting year-over-year revenue growth and quarter-over-quarter active client growth. Stitch Fix is leveraging AI-powered style visualization tools and highly customized shopping experiences to attract and retain customers, despite active client numbers still being down year-over-year. The company also raised its fiscal-year outlook following increased revenue in its latest quarter.
