|Bid||56.66 x 1000|
|Ask||0.00 x 2200|
|Day's range||55.99 - 56.68|
|52-week range||39.71 - 60.21|
|Beta (5Y monthly)||0.86|
|PE ratio (TTM)||18.40|
|Earnings date||09 Sep 2020 - 14 Sep 2020|
|Forward dividend & yield||0.96 (1.70%)|
|Ex-dividend date||14 Jul 2020|
|1y target est||53.30|
Cloud computing emerged more than a decade ago. Technology companies, such as Amazon.com's Amazon Web Services, used their expertise at owning and operating data centers efficiently to rent out computing capacity and software tools to other businesses over the internet.
JPMorgan, FedEx, Oracle, Walgreens and Paycheck are part of Zacks Earnings Preview
(Bloomberg Opinion) -- Warren Buffett finally made a deal, but those fireworks you heard weren’t for him. As the U.S. closed out the Fourth of July holiday weekend, Berkshire Hathaway Inc. said that it’s acquiring nearly $10 billion of natural-gas assets and associated debt from Dominion Energy Inc. It may not be the awe-inspiring mega-purchase that his followers have patiently awaited. Still, there’s much that can be gleaned from it about Buffett’s frame of mind as the nation enters month five of a pandemic that’s otherwise kept the famed investor on the sidelines. This is Berkshire’s biggest acquisition since 2015, yet it’s small by Berkshire standards — a relatively low-risk deal in the midst of a recession that’s set to change the outlook for some industries for good. Even though Buffett recently signaled little appetite to make any big bets so long as the end of Covid-19 remains entirely unknown, energy is one area where he’s been poised to make smaller, opportunistic purchases. During Berkshire’s unusually somber shareholder meeting in May, he cited the energy division, along with the BNSF railroad and insurance unit, as parts of his conglomerate that were less affected by the virus. “These businesses will produce cash even though their earnings decline somewhat,” he said. In his annual letter in February, the billionaire wrote of wanting to invest more of the energy unit’s retained earnings to take on large utility projects. The Dominion deal hands Berkshire more than 7,700 miles of gas pipelines and 900 billion cubic feet of gas storage. And it comes as Dominion and Duke Energy Corp. pull out of plans for a controversial pipeline project along the U.S. East Coast; other projects like it have been scrapped as well, and pipeline stocks have taken a beating. That confluence of factors created a rare chance in this environment for Buffett to get a deal at a price he likes in an industry he’s comfortable with — and at a time when he and seemingly everyone else is scared to do much else. It also happens to be an industry that Buffett’s successor-in-waiting, Greg Abel, knows well as the current head of Berkshire Hathaway Energy.What stood out as noteworthy in Berkshire’s deal announcement was that the first quote was from Buffett, not Abel. This says that Buffett, even as he is set to turn 90 years old next month, is still calling the shots and wants that known. It’s also a reminder that Berkshire’s history of striking sweetheart deals with favorable terms is very much because of Buffett’s celebrity and acclaim — there’s something to be said for selling your company to the Warren Buffett. That leaves the question: Will Abel be awarded the same preferential M&A treatment when Buffett’s gone? If not, what’s he to do with Berkshire’s more than $100 billion of cash that not even Buffett has been able to spend?With 2020 now marked by economic shutdowns, virus fears and a host of canceled trips, weddings and graduations, it hasn’t been a good year for anyone, not even the world’s sixth-richest man (he was fourth-richest before the crisis). Ideally, Buffett would be making a splash with one more giant deal right about now, and something more fascinating to the average investor than a bunch of underground pipes at that. (Costco Wholesale Corp. is one such example I speculated on recently.)Buffett may not seem much older than he did a year ago — he’s certainly just as sharp — but turning 90 is symbolic as a final chapter for the Oracle. He won’t want the last footnote of his legacy to be an unmemorable purchase of gas assets, even if it is a fine transaction. Then again, Covid-19 isn’t leaving him much choice. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Until a recent turnaround, Oracle Hospitality was plagued by sluggish responsiveness to hotel and vendor requests for new services and smoother integrations. But the company has shown increasing responsiveness, as illustrated last week by its first so-called innovation week. What it did during that week may be worth emulating by other organizations in the travel […]
Nike, FedEx, JPMorgan, Oracle and Constellation Brands are part of Zacks Earnings Preview
Ampere said the extra cores are important for additional security when chips are used in cloud computing data centers. Ampere is trying to challenge Intel and Advanced Micro Devices Inc <AMD.O> by targeting cloud customers such as Microsoft Corp <MSFT.O>, which is testing its chips, and Oracle, which has signed on as a customer in addition to being an investor.
Tech giant Oracle is one of a few companies in Silicon Valley that has near-perfected the art of tracking people across the internet. The company has spent a decade and billions of dollars buying startups to build its very own panopticon of users' web browsing data. One of those startups, BlueKai, which Oracle bought for a little over $400 million in 2014, is barely known outside marketing circles, but it amassed one of the largest banks of web tracking data outside of the federal government.
Oracle's (ORCL) fiscal fourth-quarter performance reflects coronavirus crisis led business impacts. However, rapid adoption of cloud ERP and Autonomous Database limited the decline in revenues.
Oracle Corporation missed Wall Street’s revenue targets in the fourth-quarter as clients in retail industries and hospitality have either cancelled or postponed purchases in the wake of the coronavirus pandemic.
"As the quarter progressed, we saw a drop-off in deals, especially in the industries most affected by the pandemic", Chief Executive Officer Safra Catz said on a post-earnings call. Oracle, which earns the biggest chunk of its sales from cloud offerings and software licensing, did not provide any financial outlook for fiscal 2021. The company, which has been pushing aggressively into the cloud computing market to make up for its late start, recorded quarterly sales of $6.85 billion in the unit that includes Oracle Cloud, missing estimates of $6.98 billion.
On the call today are Chairman and Chief Technology Officer, Larry Ellison and CEO, Safra Catz. There are many, many, many more stories like this and they all underscore how proud I am of our employees and customers as we are all actively engaged in the ongoing fight against COVID-19.
(Bloomberg) -- Oracle Corp. projected stagnant revenue in the current quarter, signaling the company may not see a revival of new license sales after clients in the hospitality and retail industries delayed software purchases amid the coronavirus pandemic.Sales will be in a range of a 1% gain to a 1% decline year-over-year in the period ending in August, Chief Executive Officer Safra Catz said Tuesday in a conference call. The midpoint of no revenue growth matched analysts’ estimates, according to data compiled by Bloomberg. Excluding some items, profit will be 84 cents to 88 cents a share, with the midpoint again in line with analysts’ projections.Catz and Executive Chairman Larry Ellison have sought to renew growth at Oracle, the world’s second-biggest software maker, which has expanded to cloud applications, servers and public cloud services. The shift to internet-based computing caught the 43-year-old tech giant off guard and it’s still struggling to switch existing database customers to cloud-based offerings and better compete against Amazon.com Inc. and Microsoft Corp. In the fiscal fourth quarter, revenue declined 6.3% to $10.4 billion, missing analysts’ estimates of $10.7 billion.Cloud license and on-premise license sales declined 22% to $1.96 billion in the period ended May 31, the Redwood City, California-based company said earlier in a statement, suggesting the company is signing fewer new deals. Oracle’s software for managing data, corporate finances, employees and customers require elaborate and often expensive installations, but during the Covid-19 pandemic, companies held off on getting new products.“Our overall business did remarkably well considering the pandemic, but our results would have been even better except for customers in the hardest-hit industries that we serve such as hospitality, retail, and transportation postponing some of their purchases,” Catz said in the statement.The software maker says some of those conversations with prospective customers have now resumed.“It was a disappointing quarter,” said Hari Srinivasan, an analyst at Neuberger Berman, which has been a long-term Oracle investor. “We were expecting a decline because although Oracle’s products are important for enterprises, that’s not where the spending is. Most companies are spending on getting employees working from home and the cloud.”The company’s sales may be weak for the next two or three quarters until spending recovers, he added.Shares declined about 3.5% in extended trading after closing at $54.59. The stock has climbed 3% since the start of the year.Catz said she expects Oracle’s revenue will accelerate this year, but didn’t provide a forecast for annual sales. She also said the company’s growing businesses now represent a larger share of overall revenue than its declining legacy product lines, which should aid sales growth in the future.Oracle said that revenue from cloud-based accounting and financial planning software climbed 32% in the quarter from a year earlier. The company’s software for managing employees increased 27%. Oracle didn’t disclose total sales of the products, which compete against those from Workday Inc.Revenue from cloud services and license support increased 1% to $6.85 billion. That metric includes sales from hosting customers’ data on the cloud, but a large portion is generated by maintenance fees for traditional software housed on clients’ corporate servers, which gives Oracle a predictable revenue base.Profit, excluding some items, was $1.20 a share, compared with analysts’ average estimate of $1.15.To keep up with its rivals, Oracle has touted the affordability of its cloud infrastructure offerings. The company notched a key win when Zoom Video Communications Inc. began using cloud services from Oracle along with Amazon to cope with a strain on its network capacity amid blockbuster demand for its videoconferencing tool. Oracle is now supporting millions of Zoom meeting participants a day, Ellison said. Catz and Ellison said there has been surging demand for its cloud infrastructure, which now has 24 data-center regions around the world. Ellison promised its number of facilities will soon surpass Amazon’s tally.(Updates with forecast 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.
Jun.16 -- Oracle Corp. reported sales that fell short of analysts’ estimates, indicating that companies are cutting spending on information technology. Dan Morgan, senior portfolio manager at Synovus Trust Co., discusses on "Bloomberg Technology."
Better-than-expected economic data, mixed with progress on the coronavirus treatment story, with the Fed clearing a path toward accommodative lending and plenty of liquidity have led to positive results.
Oracle (ORCL) delivered earnings and revenue surprises of 5.26% and -1.64%, respectively, for the quarter ended May 2020. Do the numbers hold clues to what lies ahead for the stock?
U.S. stocks are set to open higher Tuesday, continuing Monday’s late bounce amid hopes U.S. authorities will continue to offer stimulus to support the economy. At 07:05 AM ET (1105 GMT), S&P 500 Futures traded 39 points, or 1.3%, higher, Nasdaq 100 Futures up 115 points, or 1.2%. The Dow Futures contract rose 478 points, or 1.9%.
Oracle (ORCL) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
The latest developments surrounding COVID-19 and its continued impact on the U.S. economy will take center stage in a busy week ahead.