Oracle drops after CEO delivers low earnings guidance on call
Oracle CEO Safra Catz delivers a keynote address during the 2019 Oracle OpenWorld on September 17, 2019 in San Francisco, California. Oracle CEO Safra Catz kicked off day two of the 2019 Oracle OpenWorld with a keynote address. Here's how the company did:Earnings: $1.16 per share, adjusted, vs. $1.11 per share as expected by analysts, according to Refinitiv. $1.16 per share, adjusted, vs. $1.11 per share as expected by analysts, according to Refinitiv. Revenue: $10.09 billion, vs. $10.07 billion as expected by analysts, according to Refinitiv.cnbc.com
AI panel urges US to boost tech skills amid China's rise
“To win in AI we need more money, more talent, stronger leadership,” Schmidt said Monday. It also calls for “wise restraints” on the use of AI tools such as facial recognition that can be used for mass surveillance. It’s still awaiting confirmation of a new director for the White House Office of Science and Technology Policy, which Biden has elevated to a Cabinet-level position. AdIt's been led by Schmidt, who was Google's CEO and later the executive chairman of its parent company Alphabet. AdThe commission asked Congress to make new laws requiring federal agencies to conduct human rights assessments of new AI systems used on Americans.
Oracle stock jumps as investors take a new look at its cloud story
The article suggests that Oracle could pick up gains in cloud computing, both by providing cloud software for clients to use and by operating cloud infrastructure that companies can rely on to run their own applications. The company stopped disclosing revenue and operating expenses from cloud applications and cloud infrastructure and platform as a service in 2018. Oracle has picked up cloud infrastructure business from companies that have seen greater demand during the coronavirus pandemic, including video-calling software maker Zoom. That category includes cloud software, as well as infrastructure and platform as a service. While the top cloud-infrastructure providers have routinely spent billions on data center infrastructure each quarter, Oracle reported $536 million in capital expenditures in its most recent quarter, which ended Nov. 30.cnbc.com
Oracle reports slow revenue growth as licensing and hardware businesses decline
Oracle's revenue grew nearly 2% year over year in the quarter, which ended Nov. 30, according to a statement. In the prior quarter revenue increased by almost 2%. He was referring to Oracle's cloud infrastructure, which competes with the likes of Amazon Web Services and Microsoft Azure. Oracle's second-generation cloud-infrastructure revenue grew 139% in the quarter, Oracle CEO Safra Catz said on the call. The company's $752 million in services revenue, while slightly more than the $750 million consensus, was off by 7%.cnbc.com
Trump agrees to TikTok deal with Oracle and Walmart, allowing app’s U.S. operations to continue
President Donald Trump said Saturday he has approved a deal in principle in which Oracle and Walmart will partner with the viral video-sharing app TikTok in the U.S., allowing the popular app to avoid a shutdown. TikTok's Chinese parent company ByteDance will own the remaining 80% of TikTok, according to a person familiar with the matter. Oracle and Walmart said U.S. TikTok user data would be moved to Oracle's cloud infrastructure. President Trump had taken steps to ban TikTok in the U.S. or make ByteDance sell the app's U.S. assets. TikTok's app draws on recommendation systems to select videos to show each user.cnbc.com
Source: Oracle wins TikTok over Microsoft in Trump-urged bid
TikTok denies it is a national-security risk and is suing to stop the administration from the threatened ban. TikTok denies that it has shared user data with the Chinese government or that it would do so if asked. It competes with tech giants such as Microsoft and Amazon that provide cloud services as well as business-software specialists like Salesforce. The president said on Aug. 18 that Oracle was “a great company” that “could handle” buying TikTok. He declined to state his preference between Oracle and Microsoft as buyers.
Stocks making the biggest moves midday: Ulta Beauty, Oracle, Slack & more
Ulta Beauty Share of Ulta Beauty rose about 3% around midday, paring gains along with the broad market. The stock surged as much as 15% at its session high after the makeup retailer posted better-than-expected quarterly earnings. Slack Shares of Slack plunged more than 18% after the tech company released weaker-than-expected guidance for the first quarter on Thursday evening. Oracle Oracle rose more than 13% in midday trading after the company reported fiscal third-quarter earnings and quarterly earnings guidance that topped what analysts had expected. The midrange of her guidance, $1.24, was just over the $1.23 per share expected by analysts polled by Refinitiv.cnbc.com
Oracle rises after beating quarterly expectations
Oracle CEO Safra Catz delivers a keynote address during the 2019 Oracle OpenWorld on September 17, 2019 in San Francisco, California. Oracle CEO Safra Catz kicked off day two of the 2019 Oracle OpenWorld with a keynote address. The midrange of $1.24 is just over the $1.23 per share expected by analysts polled by Refinitiv. In the quarter Oracle announced the availability of a Cloud Data Science Platform service and said former Infosys CEO Vishal Sikka was joining its board. Oracle stock hit a 52-week low of $39.71 during Thursday's session amid a wider market selloff as coronavirus continued to impact the economy.cnbc.com
Thousands of Oracle employees protest Larry Ellison's Trump campaign fundraiser
Larry Ellison, co-founder and executive chairman of Oracle Corp., speaks during the Oracle OpenWorld conference in San Francisco on Oct. 22, 2018. More than 2,300 Oracle employees have signed a petition against a fundraiser for President Trump's 2020 re-election campaign that's reportedly scheduled to be held on Wednesday at a Southern California property owned by founder and chairman Larry Ellison. In the past few years, employees at Amazon, Google, Microsoft and Salesforce have spoken out against corporate practices they've disagreed with. Former CIA chief Leon Panetta has held a seat on Oracle's board since 2015, and in 2016 Oracle CEO Safra Catz joined President Trump's transition team. Oracle sought a major contract to provide cloud computing resources to the Pentagon, and in 2018 Catz had dinner with Trump.cnbc.com
Oracle stock drops as revenue falls short
Oracle Chairman and Chief Technolgoy Officer Larry Ellison delivers a keynote address during the Oracle OpenWorld conference in San Francisco on October 22, 2018. Oracle shares moved 3% lower in extended trading on Thursday after the company reported fiscal second-quarter revenue that fell short of analysts' estimates. Excluding certain items, 90 cents per share, vs. 88 cents per share as expected by analysts, according to Refinitiv. For the full 2020 fiscal year Catz reiterated that Oracle would grow revenue faster than the prior fiscal year in constant currency, with double-digit earnings growth. The analysts have a neutral rating on Oracle stock, saying that they're waiting for signs of improvement in the company's core database business.cnbc.com
Mark Hurd, Oracle CEO, has died
Justin Sullivan/Getty Images(CNN) - Mark Hurd, CEO of Oracle and former CEO of Hewlett-Packard, two of Silicon Valley's most storied companies, has died. "Mark was my close and irreplaceable friend, and trusted colleague," Ellison said in a memo to Oracle employees that was posted on Mark Hurd's personal website. Hurd's Oracle career started in 2010, one month after he resigned as Hewlett-Packard's CEO over sexual harassment allegations. HP didn't make it easy for Hurd to make the jump: It sued Oracle in an attempt to stop Hurd from joining. He became HP's CEO in 2005, replacing ousted CEO Carly Fiorina.
Oracle CEO Mark Hurd taking medical leave of absence
Justin Sullivan/Getty Images(CNN) - Oracle has announced that one of its top executives will take a leave of absence for health related reasons. Mark Hurd said in a company statement on Wednesday that the leave was granted at his request. He serves alongside Safra Catz, who is also CEO. "Oracle has an extremely capable CEO in Safra Catz and an extraordinarily deep team of executives, many with long tenure at Oracle. The-CNN-Wire & 2019 Cable News Network, Inc., a Time Warner Company.