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News Breaks
June 19, 2014
14:53 EDTORCL, MCRSEarnings Preview: Oracle reports amid rumor of Micros deal
Oracle (ORCL) is expected to report fourth quarter earnings after the bell on Thursday, June 19, with a conference call scheduled for 5:00 pm ET. Oracle provides software, hardware and IT services to business customers. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $11.48B. The consensus range is 93c-97c for EPS and $11.36B-$11.62B for revenue, according to First Call. During its last earnings conference call, Oracle said it expects Q4 adjusted EPS to be between 92c-99c. At that time the company also projected its Q4 revenue to grow 3%-7% in constant currency terms compared to the prior year. Oracle noted that it expects its new software licenses and cloud software subscriptions revenues to be flat to up 10% in Q4. LAST QUARTER: The company reported Q3 adjusted EPS of 68c, which missed the consensus expectation of 70c. Oracle's revenue of $9.3B also missed the $9.36B consensus projection. Oracle reported that foreign exchange issued impacted its results, stating that excluding the impact of the U.S. dollar strengthening compared to foreign currencies and excluding Venezuela's exchange loss impact on both reporting periods, Oracle's reported Q3 adjusted EPS would have been 71c and its total revenues also would have been up 6% compared to the prior year period. NEWS: Bloomberg reported on June 17, citing people familiar with the matter, that Oracle is in exclusive talks to buy Micros Systems (MCRS) for over $5B. MICROS sells payment systems, including cash registers, and related software to companies in the retail, restaurant, and hospitality sectors. STREET RESEARCH: On May 2, Oracle was upgraded to Buy from Hold at Societe Generale, which cited the stock's valuation and potential upside related to the upgrade cycle in the database business. The firm raised its price target for shares to $47 from $38 at that time. Three days later, Bernstein upgraded Oracle to Outperform from Market Perform based on improving competitive dynamics and organic innovation. The firm raised its price target on the stock to $49 from $40. On the morning of June 17, Canaccord raised its price target on Oracle to $48 from $43 to reflect the company's continued execution, its M&A strategy, and channel checks that revealed no near term risks. Later the same day, after Bloomberg's report on Oracle's talks to buy Micros, analysts at UBS noted that Oracle bought retail software maker Retek in 2005 and said that buying a retail point of sale vendor to build on that unit may make sense. However, UBS believes other potential deals, especially in the Cloud space, would be a higher priority than MICROS for Oracle. The firm kept its Buy rating and $42 price target on Oracle. PRICE ACTION: In afternoon trading, Oracle shares are down about 0.7% to $42.51. Since the day after its last quarterly report, Oracle shares have advanced about 10%.
News For ORCL;MCRS From The Last 14 Days
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July 29, 2014
07:51 EDTMCRS, ORCLOracle extends expiration date of tender offer for MICROS to August 15
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July 28, 2014
08:49 EDTORCLOracle to benefit over longer term from shift to cloud, says Pacific Crest
Pacific Crest believes that the shift to Oracle's cloud products may result in a drop in the company's maintenance revenue initially. The firm thinks the company will ultimately collect more revenue from its customers, although the margins may decline. Pacific Crest thinks that Oracle is "making solid progress" in the cloud and Big Data. It views the stock's valuation as compelling and keeps an Outperform rating on the shares.
July 25, 2014
06:35 EDTMCRS, ORCLEU poised to decide on Oracle, MICROS agreement, Reuters says
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July 16, 2014
08:08 EDTORCLOracle Social Cloud announces LinkedIn support for SRM platform
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