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News Breaks
December 18, 2013
13:51 EDTORCLEarnings Preview: Oracle remains a laggard ahead of Q2 report
Oracle (ORCL) is set to report second quarter earnings on Wednesday, December 18, with a conference call scheduled for 5:00 pm ET. Oracle is a provider of enterprise software and computer hardware products and services. EXPECTATIONS: Oracle is expected to report Q2 EPS of 67c on revenue of $9.19B, according to First Call. Consensus range for EPS is 65c-69c on revenue of $9.1B-$9.62B. On its Q1 earnings conference call, the company said it sees Q2 adjusted EPS 65c-70c on revenue growth of 1%-4% in constant dollars, and Q2 revenue in U.S. dollars ranging between a decline of 1% and growth of 2%. COMPANY NEWS: During the quarter, Oracle announced the acquisition of two companies: Compendium and Bitzer Mobile. Compendium is a cloud-based content marketing provider, and Bitzer Mobile is a mobile application solutions provider, and the terms of neither transaction were disclosed. Oracle CEO Larry Ellison also forfeited a potential payout of up to $500M to settle a lawsuit with shareholders that alleged a conflict of interest in Oracle’s 2011 acquisition of Pillar Data Systems, a company Ellison majority-owned. A number of reports during the quarter also said that shareholders are not happy with Ellison’s pay package, with shareholders voting against a resolution on the company’s pay practices at its October 31 annual meeting. STREET RESEARCH: On the day after Oracle’s Q1 report, no less than four analyst firms suggested buying Oracle shares on any weakness following the report, while William Blair assumed coverage on the stock with a Market Perform rating. Earlier this month, Oracle was downgraded at both Morgan Stanley, which took its rating to Equal Weight from Overweight, and RBC Capital, which took its rating to Sector Perform from Outperform, with both firms citing valuation. Shares of Oracle fell nearly 3% following the dual downgrades. In a note to investors yesterday, analysts at Pacific Crest said its estimates for Oracle’s Q2 and Q3 revenue are below consensus, but says that margin improvement and share buybacks make the company likely to post double-digit EPS growth in FY14. Pacific Crest maintains an Outperform rating and $35 price target on the stock. PRICE ACTION: In extended hours trade after the company’s Q1 report, shares of Oracle were lower by about 3%, but finished the first full session following the company’s report roughly unchanged. Since the company’s Q1 report, shares of Oracle are roughly unchanged, with the stock trading in a narrow range during the quarter, making a closing low of $32.19 on October 9, and a closing high of $35.60 on December 9. Year-to-date, shares of Oracle have significantly lagged the benchmark S&P 500 index, with the stock gaining about 1.4% year-to-date, while the S&P is currently higher by more than 24%. In early afternoon trade ahead of its Q2 report, shares of Oracle are up 0.5%.
News For ORCL From The Last 14 Days
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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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April 9, 2014
11:51 EDTORCLOracle management to meet with Jefferies
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10:33 EDTORCLConstant Contact surges after preliminary Q1 revenue beats consensus
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07:22 EDTORCLOracle management to meet with Deutsche Bank
Meetings to be held in Zurich/Milan on April 9 hosted by Deutsche Bank.
April 8, 2014
08:03 EDTORCLOracle management to meet with Deutsche Bank
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April 7, 2014
17:43 EDTORCLFour Oracle insiders sold $69.5M in stock, Barron's says
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09:00 EDTORCLOracle management to meet with Deutsche Bank
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