Cloud Giant Oracle Shares Soar 40 Percent, Eyes $1 Trillion Market Cap

Shares of tech giant Oracle soared by almost 40 percent midweek, marking the biggest one-day rally in more than 30 years after topping Wall Street expectations.

The enterprise software and cloud company reported after the closing bell on Sept. 9 a 359 percent increase in the value of its remaining performance obligations, totaling $455 billion. This figure indicates future revenues from signed contracts.