Schneider Electric, Legrand rise "likely in sympathy" with Oracle's share move
France's Legrand LEGD.PA and Schneider Electric SCHN.PA up just over 1.5% each after Oracle ORCL.N forecasts half-a-trillion dollars in booked cloud orders over next few months
The stocks had risen as much as 3% in early trading, a "move likely in sympathy with Oracle's +30% yesterday," a Deutsche Bank analyst told Reuters
Oracle surges ~30% in U.S. premarket trade; It jumped 27% after the bell on Tuesday when it announced Q1 results
Oracle forecast Q2 total revenue growth of 12% to 14%, and a 32% to 36% growth in its cloud infrastructure business
Deutsche Bank analyst added that there is "strong demand for AI infrastructure"
In July, Schneider confirmed its 2025 outlook, while Legrand lifted its 2025 margin outlook on growing data centres demand to power AI models
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