Rebels Edge · Thu, Jun 11, 2026

Oracle CRASHES Despite Massive AI Growth

Summary

Jon and Pete Najarian discuss Oracle’s sharp decline despite strong cloud growth, emphasizing investor concerns about spending and fundraising plans. They also review positive corporate results, early-stage cancer-drug trial news, and market volatility tied to oil prices and the Iran conflict, alongside sports commentary.

Oracle fell nearly 12% as spending concerns and plans to raise $40 billion overshadowed 47% cloud revenue growth and a $638 billion backlog.
The hosts highlighted a prior purchase of 10,000 Oracle put contracts as notable bearish options activity.
Navan rose roughly 21% after beating earnings and revenue expectations and raising its full-year outlook.
Vera Bradley reported nearly 8% revenue growth and a 51.8% gross margin, with the hosts highlighting stronger full-price sales.
Positive phase-one cancer-drug results prompted enthusiasm, tempered by concerns about participant withdrawals and the lengthy approval process.
The VIX was down about 2% but remained elevated amid sharp market swings; the hosts linked inflation pressure to higher oil prices.
The hosts viewed rotation beyond AI and semiconductor stocks as potentially healthy and discussed the Knicks’ comeback and Patrick Mahomes’ contract.

ORCL NAVN VRA

Full transcript

Good morning and an especially good morning to be a Knicks fan.
Not so much if you're a Spurs fan. We've got the 411 on that, stocks, and the rest of what's going on in the business world on today's Rebel's Edge.
>> [music] [music] >> Wow. Had to start with that, man.
>> [laughter] >> And he's shooting that over a 7 ft 5 in man that's jumping. So, he had to put a little extra on it. And then look at this.
>> The The greatest tap-in ever, maybe, right?
>> [laughter] >> Oh my. Oh my.
>> That's impressive. And there's the cat.
>> Yep, there's the big cat. When you see Pete the uh um Fox uh basically uh giving up his defense to go try to defend that shot, um the guy that comes screaming in is the guy that tipped it in.
>> Yep.
>> And that should not have been able to happen, but Anyway, folks, welcome to the Rebel's Edge. He's Pete Najarian, I'm Jon Najarian. Let's dive right in because we got a lot to cover today including macro, Iran virtually helpless now,
Pete. Helpless. Um after last night, if they still think that they want to mess with this president and our military, um I don't know what they're thinking.
Because those were precision strikes that really just tore that place up. Military command and control just done. So, if if they choose to uh continue to push this, and that's not the Iranian people, that's the two
or three million idiots that are part of the Republican Guard and uh the mullahs and so forth. And now that the mullah has been cut off, I think it's going to be a different story going forward, Pete.
>> If people think it's bad here and they talk about inflation and everything else and we all know, I mean you and I have talked about this many, many times already. So, I'm just going to say it real quick, but the inflation really has become from what? Well, from oil, price of oil and the price of oil jumping up the way that it did. And yes,
it's it's pulled back, but it's still a long ways from where we had been for for quite some time. Call it around 70 bucks a barrel. But uh I think, you know, that is it a bit of a headache for all of us?
Absolutely, it is it is. But, I would also say this, uh they got a lot more headaches than we do over there, John.
>> [laughter] >> And they have messed with the wrong guy.
And and you know what? When I say that, wrong guys and gals that are part of the administration, there's no doubt about that because uh they have hit them and they've hit them hard and I think we're going to see them start TO GO, "MOMMY!" >> [laughter] >> PRETTY SOON.
>> WELL, and the VIX reflects that, too, Pete, because the VIX is down on the day. How much it's not down a lot, Pete, but it is falling today, right?
>> It is. It's down, you know, still about 2%. It was down a little bit more than that. It was three or four percent early on, John. It was in the low 20 21, 40s, 50s, somewhere in that range or whatever, but rallied back up over 22, came back down a little bit. So, uh yeah, it's it's interesting to see where it is. But, you know what? It makes some sense, John. I mean, we are
in a volatile market. I mean, obviously, all you've got to do is look at what happened to the markets yesterday. Look what's going on today. This movement, this back and forth and up and down.
Right now, the S&P is up about 20 points. Yesterday, it was getting creamed. So, yeah, uh I would say it's very valid that it's trading about where it is right now, but it is something that I think we will see pull back substantially um under the right circumstances, but maybe those circumstances are still a few days away.
>> Well, now prediction market Pete leads right into our Knicks San Antonio because the uh series winner has now swung so dramatically um like we said, it was about a
60-40 roughly yesterday before the game.
And since the game, it's gone to 80% for New York and just 19 for uh the Spurs, and that is just a gutting experience, Pete, to uh be up as much as
they were up. In fact, Jared even has some uh new logos for us, Pete, because turns out that the Falcons um who gave up 28 points to Tom Brady in that game, there's the new logo. It's a combination of the Falcons and the Spurs, [laughter]
because that was an embarrassment. Yeah. And I don't know how they live it down. The only way they could live it down, Pete, is to basically win three in a row.
>> Yeah.
>> Yeah. And I don't think that's happening.
>> I don't think it is, either. Something about that Knicks team this year has been absolutely, you know, unbelievable.
And they they have a lot of the right players. Obviously, they like the coach.
The coach has done a great job. They're somewhere where they haven't been in a very long time. And that comeback yesterday, I think, gives them a heck of a lot of confidence. And it's got to break the back of of of San Antonio.
Even if they come back and win a game, John, um I think the momentum still stays right there with the Net- the Knicks.
So, should be pretty interesting, and the 80% that looks pretty accurate to me.
>> Yeah. Well, I've got another one that's pretty accurate, Pete. How about the uh unusual activity in Oracle?
>> Yeah.
>> Because just a few days ago, somebody steps up and buys a lot of puts in Oracle. 10,000, that's a million shares of stock, folks. You hear us say it all the time. Uh each option is for 100 shares of stock. So, when you see 10,000 like you see right there, that means
somebody put a bet on that's basically a million shares short of a $240 stock. So, I know we can all do the math, $240 million is what that trade controlled. Well, that stock has fallen, Pete, out of bed
and right now it's trading 177.50, down $23 Um or about almost 12%.
So, basically, people not happy, even though the revenues up big year-over-year, so is the spending. And the spending is spooking people, I guess, Pete.
>> Absolutely, it is, John. I mean, they're talking about how much they've got to, you know, get in terms of where where's the spending at, and they've got their numbers, and they're they're huge. I mean, you look at the total cloud revenue, it's up 47%. They've got a backlog of $638 billion. So, you look at that, you go, "Oh my gosh, this thing
must be up 10, 15, 20%." Well, the problem is exactly what you just brought up, John. Everybody's kind of wondering about, well, plans to raise money raise $40 billion. Ho ho, holy crap. Uh that actually is, I think, the only thing that was the negative was that.
And because of that, that's why that stock is getting slammed pretty hard.
Now, this is something that we've been talking about a little bit more and a little bit more, but the money flows, we are seeing those money flows, and sure, you can do great, but when you when you're doing really that well, but you still have to go through this whole process of what Oracle's talking about, I think that CEO didn't really fully
understand how that bad that was going to look for Oracle as a stock.
>> Yeah. Wow. And if you guys want some trades like that, go on over to Market Rebellion cuz we get 20 or 40 of them every day and they get posted up on the site.
>> Mhm.
>> Uh all right, Pete. How about Inlyta Therapeutics?
This one, another cancer drug developer.
We've talked about several this week.
We've talked about Tango. We talked about another one yesterday and this one, Inlyta, um man, uh if you're developing cancer drugs, uh obviously people really want, need, and it is do or die. It's life or death. And for
these guys to put up positive trial numbers, Pete, even if it's not all the way done, this is a big deal.
>> It is a big deal, John. Um if there's anything I would poke into this deal though of what we're seeing in front of us, great run. Look at that run. I mean, if you go back even just a couple of days ago where it was trading, what, 33 and a half or something like that, and you've got this run up over 41, pretty amazing. But the single day movement is
is just as impressive. I mean, it's absolutely incredible. One issue, phase one. Um you know, you look at this and you go, well, you got to get through phase two, you got to get through phase three, you've got to get through the approval process and all the rest of it.
So, it's a ways out. But that being said, the safety side of this thing, which is something that's been really resonating with you and I when we talk about some of these companies and the and the drugs that they're developing, especially with cancer, um we are seeing some great levels of safety. In this case, it's very tolerated in terms of what they've
got, but the odd part was what happened the six?
Now, I know it's really small. Phase one is one issue. 6% of the folks decided to drop out. Now, why did they decide to drop out, John? You know, none of us know the answer to that right now, but that makes you kind of just question it a little bit. And the fact that it's still in the early stages, I love what's happening. I love it for
all of us in terms of anybody who ever does get something like an awful like cancer, but I will say um it's still very, very early. So, it's a great run, but um it's still has plenty of volatility left in it, I would say.
>> All right. How about NAVN, Pete? Navan.
It's a basically a travel and expense management platform. So, not I mean, yeah, individuals can use it, but as those two things I just described, expense management, they you could do that for Pete's travel, for John's travel, but you're probably doing it for corporate. And it's how you can really
identify and perhaps um take down some of your costs by really managing it better. These guys, the stock jumped, Pete, rather dramatically after they beat and then raised full-year outlook. I know you're always in love with uh the outlooks when they're positive like that. And look at
that jump where it just uh exceeded its past high and now is running to the upside still.
>> Yeah, absolutely incredible. 21% or or thereabouts, somewhere in that category.
But, the most important thing is, John, we keep saying it. We've been saying it quarter after quarter after quarter after quarter, which is they're beating.
And and they're coming out, they beat on the earnings, they beat on the revenue, they they they lifted up the outlook for the full year. I mean, and if you look at what they were also talking about the full year 2027, John, up 30% year-over-year in terms of growth. So, they raised that guidance. I mean, across the the
these guys are getting it done, and it's there's a good reason why it's where it is right now. As a matter of fact, as much of a move as it's made, it probably could stand to go even further to the upside, I think. We'll see, but I sure would like to see somebody come out there and say, "You know what? Pete's right. I'm going to buy these options."
So, we'll see if somebody comes out like that, John, and starts buying that upside option vol- volumes and and starts to give us a little bit of a chance with some unusual option activity.
>> Nice. Well, now I've got another of our Connell McShane uh specials, Pete. He's because he seemed to uh take uh umbrage at me when I said, "Well, those people are idiots that say that Americans aren't out there spending or whatever."
Vera Bradley, Pete. So, big turnaround here. And uh a almost an 8% rise versus last year, and their CEO highlighted that uh uh basically, according to their quotes, air quotes on it, Project Sunshine Transformation,
um they're able to sell stuff at a lot closer to, if not above, the retail price, Pete. In other words, they're not having to cut price to get people in the stores. People are coming in and buying at Vera uh Vera Bradley, and that's a sign that
uh the people that are shopping there spending like that, paying retail, not just going in there and going through the racks looking for sale items. That's a big deal.
>> It is a big deal. And and you know, the fact that they are able to get get out there, John, and have the full price that they want to have on their items is absolutely incredible. I mean, you you know, first quarter growth is the best growth that they've had since 2022. So, that's another great statement. By the way, another stock that, well, you know, the revenue's up, like you you're just
talking about, up nearly 8% versus the year ago. Well, it seems to me like, again, the earning season not so bad, right? I mean, they're crushing it.
Absolutely crushing it. Last thing I'd throw out about this one, how about this? Gross margin expansion, John.
They're up there at 51.8%.
These guys are doing it right. They're getting it done. And another great example of why the markets were at record levels. But also, you know, we have to understand, well, yeah, they were record levels and we've seen these sell-offs. Well, they're seeing the sell-offs for all the right reasons.
Some of these names had really expanded maybe way too fast, right? And we're talking about AI, we're talking about some of the chips and all the rest of it. But I think that we are in a healthier market than a lot of people probably realize because of the fact of this rotation that we're seeing out of that. So, we'll see how that plays out.
I'm talking financials, talking healthcare, maybe some of the other areas as well. But I I look at this market and if and when we're done with Iran, I think we're going to see our our our market start to really run again.
>> Well, let's do another quick video, Pete.
Because, of course, we have to focus on what happened in the final minutes. But, you know, they were down as much as 25, 29, whatever it was, Pete. That's why we showed you guys that Spurs Atlanta Falcons logo merge because nobody had
ever come back like this in an NBA finals. And just like Tom Brady against the Falcons, Pete, this was amazing. So, let's give it a look and a listen.
>> Yeah.
>> Not a single human will ever be able to explain it. What OG Anunoby just did to us. He just had two of the most iconic plays in NBA history in a 10-second span. Spurs [music] ball, up by one.
De'Aaron Fox on the fast break. He thinks he has a free layup. Finals game over. The ball gets punched 30 ft. And the fastest player arguably in the NBA, De'Aaron Fox, lays it up for the win blocked. Blocked by Anunoby. Blocked by James finally has a worthy opponent. But then six seconds later the Knicks are still down by one. They need to make a
shot and Brunson fires up a 32-footer.
Obviously he misses. And the Brunson missed there means [music] the Knicks lose and the series is 2-2. But watch Anunoby come flying in and he tips it in. The man came out of nowhere like Batman, jumped over the whole team and tipped it in to win the Knicks [music] game a 29-point comeback complete. And by the way, if you want to stay updated in the basketball world, make sure
you're following. That was the greatest role player performance in NBA Finals history that my eyes have ever seen. 33 points and [music] seven three >> Unreal.
>> Amazing.
>> Amazing. It is amazing. 29 POINTS JOHN, I LITERALLY came in and I went came to my computer. My wife wanted to watch something else, right? So we weren't watching the game. I came over here. I kind of snuck in and and started watching a little bit of the game. I had the TV in the background and I was working on some stuff. And I'm looking at it going, "Damn it, these guys now we got to go back to San Antonio without
you know, it's going to be two." And and the answer is no. Uh this is one of the greatest comebacks I have ever seen. And and I I love this whole thing with Atlanta that you're putting out there too. That's fantastic. But unbelievable run. Now it's up 3-1. They could go to San Antonio John, they could lose a game and they'd still have a I think the
upper hand or whatever. I I think with the Knicks. Have they broken them? You know, that's the other question is are are are is San Antonio just sitting there just scratching their heads trying to figure this whole thing out? Big Cat did what he needed to do. Brunson did a little bit more about what he needed to
do. And the San Anunoby John, the fact that at the very end of a game that they made this unbelievable, you know, you know, 29 points. Unreal, right? He goes to one end of the court and and gets the ball and slap slaps it away.
Comes to the other end of the and then grabs that last tip. Probably one of the coolest plays of all time after the you know the miss of the three-point shot or whatever and then he comes in and just tips that thing in.
Unbelievable. I you know you can't say anything more than other than you know I do like the fact Big Cat was he scoring a lot of points? No, but he was out there. He was banging around pretty good and 10 rebounds that's not such a bad game 13 points. I'd say Big Cat did what he was supposed to do because
everybody's got what they need to do and I'll tell you what Anunoby at 33 points.
I mean talk about a guy who even if if they win it he might have to be the the MVP of the finals just because of what he did in the final seconds. Oh by the way, an Indiana guy. Let's remember Indiana in football national champions went 12 and 0. Now all of a sudden this
Indiana basketball player It's all tied together, John.
>> Yep, it is, Pete. It is. Well, let's let's just wind it up with Mahomes new contract cuz I know you're pretty excited about that and maybe even surprised.
>> Yeah, well 64 million you know on average per year is a crazy number, right? I mean it it it is amazing for a guy who is getting a little bit older. Let's be honest about that. He also had a pretty major injury. We got to be honest about that.
His his previous contract was a 10-year 450 million. Now all of a sudden this thing's what? 504 million John or something like that. It's unbelievable.
I love the fact we talked about this yesterday though. They got the running back in Walker. Now they actually got something they can do to get a running game. That's going to help Patrick Mahomes. He has to be healthy and my one pushback would be his age and the amount of money that they're guaranteeing and they're giving him, uh yes, he's a great quarterback. Is he
still the same Pat Mahomes that he was before?
I don't know, John. What do you think?
>> Well, they think so.
>> Yeah.
>> I mean, they've got him tied up to 2033, Pete. It's 2026. So, yeah, an 8-year contract extension because he had he was under contract. They decided, "Okay, we'll extend you so that there's no questions." >> Yeah.
>> And so that, you know, he could, Pete, earn as much as, you know, another of this half a billion dollars.
>> Unreal. Unreal.
>> yeah, I boy, I remember, Pete, when I played, I got like 19,000 something dollars for four games. And you made a lot more than that coming out 6 years later, but nobody had any idea at that time that people would be earning this kind of money.
>> Yes.
>> But as as who your buddy Shaq likes to say, this is generational money.
It's generational. By the way, did you see Barkley, Pete, after the game when he was just going off saying, "THIS IS THE STUPIDEST COACHING STAFF I'VE EVER SEEN.
So stupid." He was spitting mad and he seemed like he might have had money on the game.
>> Yeah. Well, you you never know. I'll tell you what, but you know, with the back to the Chiefs for just a second, I just find it amazing that, you know, at this age and everything else, John, I'm and I'm not being critical, I'm not calling it out, I'm just saying, you know, to get that kind of a contract, 64 million on average a year, oh man, that
really is an amazing number. And you know what, is he deserving? Let's see this year because if he if he battles back after just getting that injury ACL not long ago, and uh they can get themselves back into the playoffs, uh I would say maybe it is worth that. Maybe he is worth that kind of money. And he
probably is. I guess we'll have to see though.
>> Yep. Well, the other thing we'll have to see, Pete, is everybody next week because of course we do the show Monday, Tuesday, Wednesday, Thursday, 4 days, and then Pete and I travel. Today I'm jumping on the jet to meet Pete in New York where we've uh got a whole bunch of uh great
folks that we're going to be entertaining in New York somewhat 150 for dinner tomorrow night, Pete. So, that'll be fun. Uh but thank you guys very much for joining us. You're really important to us. We can't do this if you guys aren't out there and retweeting it and all the rest. So, thank you, and
we'll see you Monday next week at 1:00 p.m. Eastern time.

Transcript from the show's YouTube captions; automatic captions may contain errors. Educational content, not investment advice.