Today's charts: Bullish call on Oracle; Apple shares drop; United Tech, Rockwell Collins reach $30B deal

Seana Smith
·Host

Yahoo Finance is tracking Oracle, Apple, United Technologies and Rockwell Collins in intraday trading on Tuesday.

Oracle (ORCL) — Credit Suisse initiated coverage on Oracle with an “outperform” rating and a price target of $62 a share, which represents 22% upside from Friday’s closing price. In a note to clients, analyst Brad Zelnick wrote that he believes the market “under-appreciates” Oracle’s potential opportunities in the cloud. Shares have jumped about 32% since January 1.

Apple (AAPL) — Piper Jaffray’s Michael Olson took a survey of more than 400 iPhone users in the U.S., and found that upgrade interest for the new iPhone 8 is similar to last year. Why? He thinks most customers are not aware of the device’s highly anticipated new features, including an OLED display and wireless charging. Apple is expected to unveil the iPhone 8 at its September 12 event.

United Technologies (UTX), Rockwell Collins (COL) — United Technologies has reached a deal to buy Rockwell Collins for $30 billion including debt, making it the biggest aerospace deal ever. Under the terms of the deal, Rockwell shareholders will receive $140 per share in stock and cash. In a statement, UTC Chairman and Chief Executive Officer Greg Hayes said, “This acquisition adds tremendous capabilities to our aerospace businesses and strengthens our complementary offerings of technologically advanced aerospace systems.” He also added that the merger will make aircraft “more intelligent and more connected.” The deal is expected to close by the third quarter of 2018.

For more on Tuesday’s big stock movers and breaking news after the bell, check out The Final Round, starting at 3:55 p.m. ET, on Yahoo Finance.