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Oracle Corporation (ORCL)

NYSE - NYSE Delayed price. Currency in USD
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59.80+0.50 (+0.84%)
At close: 4:02PM EDT
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Trade prices are not sourced from all markets
Previous close59.30
Open59.27
Bid59.50 x 1000
Ask59.89 x 900
Day's range58.96 - 59.99
52-week range39.71 - 62.60
Volume9,371,875
Avg. volume14,739,985
Market cap180.051B
Beta (5Y monthly)0.82
PE ratio (TTM)18.81
EPS (TTM)3.18
Earnings date10 Dec 2020 - 14 Dec 2020
Forward dividend & yield0.96 (1.62%)
Ex-dividend date07 Oct 2020
1y target est62.99
  • TikTok Judge Schedules Sunday Hearing as Trump’s Ban Looms
    Bloomberg

    TikTok Judge Schedules Sunday Hearing as Trump’s Ban Looms

    (Bloomberg) -- A federal judge scheduled an rare Sunday morning hearing to decide whether the U.S. can go through with its ban on the popular video-sharing app TikTok.ByteDance Ltd., TikTok’s Chinese owner, has asked the court to block the ban, set to begin on Sunday night, even as it pursues approvals from the government for the sale of a stake in its U.S. operations to Oracle Corp. and Walmart Inc. under pressure from President Donald Trump. It argued in court filings Friday that the ban would trample constitutional free-speech protections.Trump cited national security risks in August, when he announced a ban on the widely-used network from U.S. app stores. The president, who’s also barred WeChat, owned by China’s Tencent Holdings Ltd., has told ByteDance its only alternative is to sell its American TikTok business. The U.S. Justice Department argues the apps potentially give the China’s government access to millions of Americans’ personal data.The government emphasized those concerns in a filing on Friday, urging U.S. District Judge Carl Nichols not to grant the temporary block. U.S. lawyers cited FBI Director Christopher Wray’s assessment that China poses the “greatest long-term threat to our nation’s information and intellectual property” as a reason for the ban.Communist Party Ties“One of the tools that the PRC uses to further its goals is bulk data collection,” the U.S. government said, referring to the People’s Republic of China. ByteDance, founded in 2012 by Zhang Yiming, has close ties to the Chinese Communist Party and must abide by laws that require it to cooperate with China’s government, the U.S. said.“In April 2018, the CCP forced ByteDance to shutdown one of its other platforms, and Mr. Yiming issued a public apology in which he pledged to cooperate with and elevate official CCP media,” the U.S. said. “Following this public atonement, ByteDance underwent organizational restructuring with CCP infrastructure now built into it.”Read More: TikTok Pushes Back on Trump in Court While Angling for DealThe ban, announced in an Aug. 6 executive order, is part of a wider effort by the administration to take a hard line against Beijing, which Trump bets will help him win re-election. Starting at 11:59 p.m. on Sept. 27, it would remove TikTok from the app stores run by Apple Inc. and Google’s Android, the most widely used marketplaces for downloadable apps. People who don’t yet have the app wouldn’t be able to get it, and those who already have it wouldn’t have access to updates needed to ensure its safe and smooth operation. TikTok is used regularly by 19 million Americans.‘Security Risks’ Ahead of the looming deadline, ByteDance had argued for an expedited schedule in the case. The U.S. pushed back at a hearing on Thursday, saying ByteDance had filed a separate suit more than a month ago and was late in requesting the injunction in this one. In defense of the ban, the government again cited security concerns.“TikTok is allowed to continue operating with respect to existing users but cannot add users, and the reason for that is that there are significant national security risks,” Assistant U.S. Attorney Daniel Schwei told the judge.Read More: Trump Suffers Another Loss in the TikTok Showdown With ChinaTikTok said that the ban was already undermining its business model by scaring users away, and that it had sought relief as soon as it was allowed to under the law. It said the government would have argued its request was premature if filed earlier.“The urgency of this is created by the Sunday night ban,” attorney John Hall said. “That part of it makes absolutely no sense to us.”User RisksHall added the ban would increase risks to existing users by preventing them from getting regular security updates. The deadline also was affecting the company’s reputation with users, who are considering moving to less attractive platforms, the attorney noted.In the social media industry, Hall said, “users retained is absolutely the lifeblood of their business.”In Friday’s filing, TikTok’s lawyers argued that Trump is exceeding his authority with the proposed ban and acting in an “unreasonable and capricious manner” by seeking to cut off all transactions on the service.The law being invoked “states the President’s authority does not extend to the direct or indirect regulation or prohibition of ‘personal communication’ and the international flow of ‘information or informational materials,’ such as film, photographs, and artwork, regardless of the ‘format or medium of transmission,”’ the Chinese company’s lawyers argued.Such a ban also would trample free-speech rights of U.S. users of the Chinese company’s platform, TikTok’s lawyers added. Millions of Americans “engage in core protected speech on TikTok in pursuit of a wide variety of political, social, and cultural ends,” according to the brief. “The Prohibitions unlawfully restrict this speech in violation of the First Amendment.”The case is TikTok Inc. v. Trump, 20-cv-2658, U.S. District Court, District of Columbia (Washington).(Updates with excerpts from TikTok filing starting in second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Trump Asks U.S. Court to Allow WeChat Ban to Proceed
    Bloomberg

    Trump Asks U.S. Court to Allow WeChat Ban to Proceed

    (Bloomberg) -- President Donald Trump asked a San Francisco judge to stay an injunction blocking a ban on Tencent Holdings Ltd.’s WeChat, as the legal fights grow over the administration’s moves against Chinese-owned apps.U.S. Magistrate Judge Laurel Beeler issued a preliminary injunction on Sept. 19 at the behest of users who argued those prohibitions trampled the free-speech rights of millions of Chinese-speaking Americans. The app, which was supposed to disappear from American stores Sunday, hosted 19 million regular users in the country and more than a billion worldwide.“The Court’s preliminary injunction permits the continued, unfettered use of WeChat, a mobile application that the Executive Branch has determined constitutes a threat to the national security and foreign policy of the United States,” government lawyers wrote in their filing Thursday. It would allow Beijing to “surveil the American people and collect and use vast swaths of personal and proprietary information from American users to advance its own interests.”In a separate filing Friday, the U.S. said it would submit classified information supporting its motion, including an assessment by the Director of National Intelligence.WeChat has emerged as a top target in Trump’s crackdown on China ahead of the November elections. Tensions between Washington and Beijing escalated after his administration waged a campaign that’s also ensnared ByteDance Ltd. and its short-video service TikTok. The U.S. faces a 2:30 p.m. deadline in Washington from another judge who ordered the government to postpone its ban on TikTok set for Sunday or respond to a request by the app’s Chinese owner for a court order temporarily blocking the ban.Read more: Chevron Asks Global Employees to Delete WeChat After Trump BanThe U.S. says WeChat is a threat because Tencent is intertwined with the Chinese Communist Party, which can use the app to disseminate propaganda, track users, and steal their data. It’s a similar argument Washington has used to force a sale of TikTok to American firms Oracle Corp. and Walmart Inc., a mega-deal now awaiting Trump’s and Beijing’s sign-offs.The judge in California has previously found the government provided insufficient evidence of a security threat. “While the government has established that China’s activities raise significant national security concerns -- it has put in scant little evidence that its effective ban of WeChat for all U.S. users addresses those concerns,” Judge Beeler wrote in her order.The case is U.S. WeChat Users Alliance v. Trump, 3:20-cv-5910, U.S. District Court, District of Northern California (San Francisco).(Updates with filing on classified information in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • TikTok Judge Tells U.S. to Delay Ban or Argue for It Friday
    Bloomberg

    TikTok Judge Tells U.S. to Delay Ban or Argue for It Friday

    (Bloomberg) -- The Trump administration was ordered to postpone a U.S. ban on TikTok set for Sunday or respond by Friday to a request by the app’s Chinese owner for a court order temporarily blocking the ban.The owner, ByteDance Ltd., is seeking a preliminary injunction on the ban even as it continues to pursue approvals from the administration for a sale of the video-sharing app’s U.S. operations to Oracle Corp. and Walmart Inc. forced by President Donald Trump. It has asked the court to weigh its request ahead of the prohibition, which takes effect just before midnight on Sunday.Following a hearing on Thursday, U.S. District Judge Carl Nichols gave the U.S. until 2:30 p.m. Friday to agree to delay its deadline or file court papers opposing ByteDance’s bid for the injunction. Without a delay of the ban, the judge would hold a hearing on the injunction request on Sunday morning.The U.S. argued against an expedited schedule in the case, saying ByteDance had filed a separate suit more than a month ago and was late in requesting the injunction in this one.“TikTok is allowed to continue operating with respect to existing users but cannot add users, and the reason for that is that there are significant national security risks” Assistant U.S. Attorney Daniel Schwei told the judge.Read More: TikTok Pushes Back on Trump in Court While Angling for DealBoth TikTok and WeChat, which is owned by China’s Tencent Holdings Ltd., have been labeled national security threats by the Trump administration, which is seeking to stop their use in the U.S. -- or, in TikTok’s case, force a sale to U.S. companies -- on the grounds they could allow China’s government to gain access to personal data from millions of Americans. The TikTok ban, proclaimed in an Aug. 6 executive order by the president, is part of a wider effort by the administration to take a hard line against Beijing, betting that a tough approach will help win the president re-election.The ban on TikTok, effective at 11:59 p.m. on Sept. 27, would mean removing it from the app stores run by Apple Inc. and Google’s Android, the most widely used marketplaces for downloadable apps, so people who don’t yet have the app wouldn’t be able to get it. Those who already have it wouldn’t have access to updates needed to ensure its safe and smooth operation. Over time, it would become useless.John Hall, a lawyer for TikTok, told the judge the company sought relief as soon as it was allowed to under the law and that the government would have argued it was premature if filed earlier.Hall said the looming ban was affecting the company’s reputation with users, who are considering moving to less attractive platforms. In the social media industry, Hall said, “users retained is absolutely the lifeblood of their business.” He argued that the ban would increase risks to existing users by preventing them from getting regular security updates.“The urgency of this is created by the Sunday night ban,” Hall said. “That part of it makes absolutely no sense to us.”The case is TikTok Inc. v. Trump, 20-cv-2658, U.S. District Court, District of Columbia (Washington).(Updates with arguments of government and TikTok starting in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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