Premarket movers: Oracle surges on AI growth, ACV auctions jumps on $1.9B deal

The stock market experienced a rebound on Friday as oil prices cooled and investors focused on recent consumer inflation data, with the potential to alleviate market concerns following a challenging week. Dow E-minis rose 276 points, S&P 500 E-minis gained 40.75 points, and Nasdaq 100 E-minis increased 166.75 points. S&P 500 was on track for its largest weekly decline since June, while Dow sought its steepest weekly loss since March.

Oracle shares surged 6.3% in premarket trading after the software and cloud computing company reported strong earnings for the fiscal first-quarter 2027, surpassing expectations across several metrics. The company's cloud infrastructure business experienced a 121% revenue growth, reaching $7.4 billion, and GPU utilization reached 97.9%, indicating high utilization of data-center capacity.

Oracle also secured approximately $30 billion in new AI-related contracts and raised its fiscal 2027 revenue guidance above $90 billion. Adobe shares fell 2.8% before the market opened after the company issued a fourth-quarter revenue outlook that fell short of investor expectations, despite delivering stronger-than-anticipated results in the third quarter.

Additionally, Adobe announced a major leadership transition, with current CEO Shantanu Narayen stepping down as President and CEO to become Executive Chair, with Anil Chakravarthy taking over as CEO effective December 1, 2026.