
White House claims win as Canada drops digital tax, trade talks resume
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CTV U.S. political analyst Eric Ham breaks down the U.S. reaction to Canada's tax retreat, revived trade talks, and possible tariffs ahead.
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Globe and Mail
35 minutes ago
- Globe and Mail
Oracle (ORCL) Stock Hits an All-Time High Amid Increased Cloud Demand
Optimism surrounding Oracle's ORCL cloud and AI infrastructure endeavors pushed its stock to an all-time high of $228 a share on Monday. This comes as the enterprise cloud leader has secured lucrative contracts thanks to its momentum in AI, with many analysts starting to raise their price targets for Oracle stock. That said, let's see if now is a good time to buy ORCL for higher highs. Massive Cloud Deal & AI Momentum Although the identity of the customer was not disclosed, Oracle stock spiked +4% on Monday following news of a regulatory filing in which the company had signed a massive $30 billion annual cloud services deal. Given the scale and nature of the contract, many analysts believe the client could be a major AI player like OpenAI. To that point, Oracle and OpenAI have formed a strategic partnership, collaborating on a massive AI training hub in Texas. As part of a broader $500 billion AI infrastructure initiative, which also includes Nvidia NVDA, Oracle is the venture's core infrastructure provider. Deemed Project Stargate, Oracle will be helping to expand OpenAI's compute capacity beyond Microsoft MSFT Azure. Embarking on a multi-cloud strategy, Microsoft and OpenAI are using Oracle Cloud Infrastructure (OCI) to integrate Azure's AI cloud platform to produce enhanced training for large-language models (LLMs). With demand booming for OCI, Oracle's MultiCloud revenue is reportedly growing at over 100% in correlation with the need to support generative AI workloads such as OpenAI's ChatGPT. Reporting its fiscal fourth-quarter results earlier in the month, Oracle's Q4 sales stretched 11% year over year to $15.9 billion, pinpointing that its MultiCloud database revenue spiked 115% sequentially, driven by partnerships with Amazon's AMZN AWS and Alphabet's GOOGL Google Cloud, along with Microsoft Azure. ORCL Performance & Valuation Comparison Following today's rally, ORCL is up +30% in 2025. More impressive, Oracle stock is now sitting on +200% gains in the last three years to vastly outperform the broader indexes and its Zacks Computer-Software Market's +95%, which includes Microsoft stock at +90%. Image Source: Zacks Investment Research Furthermore, despite Oracle's blazing stock performance, at 31.3X forward earnings, ORCL still trades beneath Microsoft's 37.1X and their Zacks Computer-Software Industry average of 35.9X. Analysts Upgrade ORCL Price Target to $250 Citing strong cloud momentum, AI infrastructure growth, and a bullish outlook for Oracle's current fiscal year 2026, several financial firms have upped their price target for ORCL shares to $250, including analysts at Stifel, UBS, and Guggenheim. Bottom Line At the moment, Oracle stock currently lands a Zacks Rank #3 (Hold). However, it wouldn't be surprising if a buy rating is on the way and perhaps higher highs for ORCL, as earnings estimates for Oracle are likely to rise in correlation with the announcement of its lucrative cloud services deal. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oracle Corporation (ORCL): Free Stock Analysis Report Inc. (AMZN): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report


CTV News
40 minutes ago
- CTV News
Premier pushes back on injunction
Edmonton Watch Alberta Premier Daniellle Smith is pushing back on an injunction that prevents her government from banning gender-affirming care for minors.


CTV News
an hour ago
- CTV News
Trump signs an executive an executive order ending U.S. sanctions on Syria
President Donald Trump listens during a briefing with the media, Friday, June 27, 2025, at the White House in Washington. (AP Photo/Jacquelyn Martin) WASHINGTON — U.S. President Donald Trump signed an executive order on Monday ending most U.S. economic sanctions on Syria, following through on a promise he made to the country's new interim leader. White House press secretary Karoline Leavitt said the move was designed to 'promote and support the country's path to stability and peace.' The executive order is meant to 'end the country's isolation from the international financial system, setting the stage for global commerce and galvanizing investments from its neighbors in the region, as well as from the United States,' Treasury's acting under secretary for terrorism and financial intelligence, Brad Smith, told reporters on a call Monday morning to preview the administration's action. Monday's actions do not rescind sanctions imposed on ousted former President Bashar Assad, his top aides, family members and officials who had been determined to have committed human rights abuses or been involved in drug trafficking or part of Syria's chemical weapons program. Known as the Caesar Act sanctions, they can only be repealed by law. The White House posted the text of the order on X after the signing, which was not open to the press. The U.S. granted Syria sweeping exemptions from sanctions in May, which was a first step toward fulfilling the Republican president's pledge to lift a half-century of penalties on a country shattered by 13 years of civil war. Along with the lifting of economic sanctions, Monday's executive order lifts the national emergency outlined in an executive order issued by former President George W. Bush in response to Syria's occupation of Lebanon and pursuit of weapons of mass destruction and missile programs, Treasury officials said. Five other previous executive orders related to Syria were also lifted. Sanctions targeting terrorist groups and manufacturers and sellers of the amphetamine-like stimulant Captagon will remain in place. Trump met with Syria's interim leader, Ahmed al-Sharaa, in Saudi Arabia in May and told him he would lift sanctions and explore normalizing relations in a major policy shift in relations between the U.S. and Syria. 'This is another promise made and promise kept,' Leavitt said Monday. The European Union has also followed through with lifting nearly all remaining sanctions on Syria. Still, some restrictions remain in place. The U.S. still designates Syria as a state sponsor of terrorism and the group led by al-Sharaa as a foreign terrorist organization. A State Department official said the department is reviewing those designations. By Fatima Hussein And Matthew Lee.