On July 14, Oracle fell 3.09% in pre-market trading to $127.5/share, with turnover of $77.48 million. The decline reflects both a broader software sector selloff triggered by IBM's preliminary results and company-specific credit concerns following S&P Global's downgrade.

IBM's weak preliminary earnings dragged the entire software sector lower, with ServiceNow falling 7.42% and Salesforce dropping 5%. Oracle faced compounding pressure after S&P Global cut its long-term issuer credit rating from BBB to BBB-, placing it at the lowest investment-grade tier, one notch above junk status. The agency cited AI-driven capital expenditure plans of $90-95 billion that could generate a free operating cash flow deficit of up to $42 billion, and specifically named OpenAI as a key credit risk, noting it accounts for nearly half of Oracle's contractual obligations.

Oracle fell 6.47% in the prior session on trading volume that surged 80%, and has declined over 32% year-to-date. Separately, Fitch awarded Oracle its highest rating among AI data center debt issuers due to unconditional rent payment commitments, highlighting a divergence between bond and equity market sentiment.

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