Analysts celebrated Oracle Corp.’s Q2 beat, dividend, and $10 billion share buyback approval by raising their price targets on the stock. Piper Sandler analyst Brent Bracelin raised the price target to $100 from $80 (12.7 percent upside) and kept a Neutral. The company’s Q2 revenue growth improved to 6 percent ex-currency from 2 percent last…
Futures Rise Ahead of CPI Data; Oracle Shines
December 10, 2021
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U.S. stock index futures edged higher on Friday ahead of an inflation report that could likely strengthened the case for an aggressive policy tightening by the Federal Reserve, while Oracle Corp. jumped on an upbeat third-quarter outlook. Shares of the enterprise software maker gained 11.2 percent in premarket trading after posting forecast-beating results for the…
Google to Bid for Pentagon Cloud Computing Contract; Oracle, IBM May Join Too
Alphabet Inc Google is pursuing a massive cloud-computing contract with the Department of Defense, the Wall Street Journal reports. Google abandoned a similar bid process three years back in the face of employee protests. Google Cloud CEO Thomas Kurian recently met Pentagon officials to discuss the bid process for a contract called the Joint Warfighting…
Oracle Revenue Falls Short of Expectations as Cloud Competition Rises
Enterprise software firm Oracle Corp. fell short of Wall Street expectations for first-quarter revenue on Monday, hurt by competition in the cloud computing space. Shares of the Austin, Texas-based company pared losses and were down 1.4 percent in extended trading after the company forecast second quarter adjusted earnings per share above expectations. The company expects…
Big Tech Wins at the Supreme Court, Software Entrepreneurs Lose
Commentary In the early days of software, those against patenting software argued that copyright protection would suffice. They got their wish with the Supreme Court’s decision in Alice v. CLS Bank (pdf) that effectively made software unpatentable. The recent decision in Oracle v. Google (pdf) gave a big win to Google and effectively makes software…
Supreme Court Rules Google Did Not Violate Copyright Law When it Used Oracle Code for Androids
Google did not infringe Oracle’s copyright when it used that company’s programming code in the Android cellphone operating system, the Supreme Court ruled this morning overturning a lower court ruling that favored Oracle. Oracle had been seeking an estimated $9 billion in damages in the decade-old litigation between the tech companies that could have changed…
Supreme Court Rules Google Didn’t Violate Copyright Law When It Used Oracle Code for Android
Google didn’t infringe Oracle’s copyright when it used that company’s programming code in the Android cellphone operating system, the Supreme Court ruled April 5 in overturning a lower court ruling that favored Oracle. Android is the most popular cellphone operating system in the world. Oracle had been seeking $9 billion in damages in the decade-old…
Don’t Let the Ninth Circuit Hijack the Google Antitrust Suit
Commentary Google recently requested that the blockbuster December antitrust suit filed by 10 states in response to its alleged “illegal” and “monopolistic” online advertising practices be moved from Texas to the Northern District of California of the Ninth Circuit. In its official filing, Google cited suitability as the primary reason, arguing that the Northern District court is “the venue…
White House: No New ‘Proactive Step’ on TikTok Deal Under Biden
WASHINGTON—The White House said on Wednesday it has an ongoing review of the risks TikTok may present to U.S. data but stressed it has taken no new “proactive step” related to a pending plan for the Chinese-owned company’s American operations to be acquired by U.S. investors. The Wall Street Journal reported earlier on Wednesday that…
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