Good afternoon and welcome to Markets Desk.
Oracle is moving toward another round of layoffs this month, with cuts potentially reaching double-digit percentages on certain teams. The company has been taking on billions in debt to fund its artificial intelligence infrastructure buildout, and management appears to be trimming payroll to offset that mounting financial pressure.
Shifting to earnings, Douglas Emmett wrapped its second quarter two thousand twenty-six call, giving investors a fresh read on the Los Angeles office and multifamily real estate market. The REIT has been navigating persistent softness in Southern California commercial leasing, and any commentary on occupancy trends and rent spreads will be closely watched by investors tracking the broader office recovery thesis.
Also reporting, Nextdoor closed out its second quarter two thousand twenty-six, with the neighborhood social platform still working to demonstrate sustainable revenue growth against a challenging digital advertising backdrop. The company has been leaning into hyperlocal ad products, and results here speak to whether that strategy is gaining meaningful commercial traction with small and mid-sized businesses.
That's the tape. Markets Desk, signing off the floor.
