Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors

every morning. Good morning. Today is Tuesday, March 11th. I'm Julie Morgan. Oracle's sales backlog

increases, but Wall Street is not convinced. A brutal sell-off for Tesla, and Corweave signs a deal with Open AI.

Oracle is down nearly 1.5% in pre-market action after its fiscal third quarter results missed

expectation slightly but topped $100 billion in remaining performance obligations.

For the period ending February 28th, Oracle

said it earned an adjusted $1.47 per share as revenue rose 6.4% year over year to $14.13 billion.

Analysts expected the company to earn an adjusted $1.49 cents per share on $14.39 billion in revenue.

Total remaining performance obligation soared 63% during the period to $130 billion,

as the company signed $48 billion worth of deals in the quarter.

Oracle CEO said the company has signed cloud agreements with several leading technology

companies, including OpenAI, X-A-I, Meta, Nvidia, and AMD.

The statement went on to say that Oracle expects that their huge $130 billion sales backlog

will help drive a 15% increase in Oracle's overall revenue in their next fiscal year beginning this June.

He also said that they expect RPO to continue to grow rapidly as they look forward to signing their first Stargate contract, yet another big opportunity for Oracle to expand both this AI training and AI

inferencing businesses in the near future. Oracle also declared a cash dividend of 50 cents per share,

up 20% from its previous payment. The dividend is payable on April 23rd to shareholders of record

as of April 10th.

Tesla fell 15% in Monday trading as investors start to prepare for what could be a

disappointing Q1 deliveries report in a few weeks. The decline stood as the largest since September

2020 when Tesla was not added to the SMP 500 index as anticipated.

A steady stream of reports from Europe and China are being seen as an indication that the

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