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December 12, 2013
10:48 EDTORCLOracle hit with two downgrades, shares fall
Shares of Oracle (ORCL), which develops servers and storage products, are declining after two research firms downgraded their ratings on the stock. WHAT'S NEW: In a note to investors earlier today, RBC Capital analyst Matthew Hedberg wrote that the company continues to be under pressure from cloud computing companies and alternative data products. Cloud computing solutions will continue to gain market share, the analyst believes. Meanwhile, Oracle's strong data management business could be threatened in the future by the growth of unstructured data and lower-cost data solutions, the analyst contended. Hedberg - who also cited Oracle's valuation and concerns about spending trends in China as reasons for his downgrade - warned that investors may no longer see the company as a "cornerstone investment." He dropped his rating on the stock to Sector Perform from Outperform, and has a $35 price target on the shares. Also downgrading Oracle today was Morgan Stanley, which cited valuation as the primary reason for its decision. The firm dropped its rating on the shares to Equal Weight from Overweight. PRICE ACTION: In mid-morning trading, Oracle dropped $1.04, or 3%, to $33.50.
News For ORCL From The Last 14 Days
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April 22, 2014
12:18 EDTORCLBofA/Merrill's software analysts hold an analyst/industry conference call
Software Analysts, along with Ray Wang, Principal Analyst & CEO at Constellation Research, provide their perspectives on pertinent topics in the software industry and how disruptive technologies impact cross channel commerce and technology optimization on an Analyst/Industry conference call to be held on April 25 at 11 am.
April 11, 2014
09:24 EDTORCLOracle management to meet with JPMorgan
Meeting to be held in Chicago on April 17 hosted by JPMorgan.
07:06 EDTORCLOracle management to meet with Deutsche Bank
Meeting to be held in Frankfurt on April 11 hosted by Deutsche Bank.
April 10, 2014
09:06 EDTORCLOracle management to meet with Deutsche Bank
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