Julie Morgan

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

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Today is Wednesday, the first of April.

I'm Julie Morgan.

Shares of RH are down 17% in pre-market action.

Fourth quarter results and expectations for the first quarter and full year disappointed investors, despite indications that the company is navigating a dire housing market.

RH stated that fourth quarter and 2025 net revenues were negatively impacted by approximately $30 million dollars

due to higher-than-anticipated backorder and special order balances as a result of tariff-related resourcing, as well as $10 million due to adverse weather at the end of the quarter.

For the first quarter, revenue is seen declining by 2 to 4 percent, translating to a range of between $781 and $797 million, which is below the $876 million estimates.

For fiscal year 26, revenue is expected to increase by 4 to 8 percent, representing a range of between $3.58 and $3.71 billion, below the $3.77 billion consensus estimate.

Oracle closed 6% higher on Tuesday, the same day the company started laying off employees.

According to Business Insider, Oracle is trying to drive down costs to support its AI infrastructure build-out.

Tech Layoff Tracker posted on X that the layoffs will affect 18% or 30,000 of Oracle's global workforce.

Seeking Alpha reached out to Oracle, but a spokesperson declined to comment on the matter.

Oracle sent out an email on Tuesday to its affected employees.