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☆ Oracle hits record after 50% surge in 2023, defying tech struggles
▼ + stars: | 2023-06-14 | by ( Jordan Novet | ) www.cnbc.com time to read: +7 min

Larry Ellison, Oracle's chairman and technology chief, speaks at the Oracle OpenWorld conference in San Francisco on September 16, 2019. For years, the database software developer lagged behind tech rivals in building cloud technology that met the demands of the modern-day enterprise. The shares are up over 50% in 2023, which would mark the best year for shareholders since the dot-com boom of 1999. Oracle got its latest boost this week after reporting stronger-than-expected earnings and revenue, prompting nods of approval from analysts. On Oracle's earnings call this week, CEO Safra Catz took a minute to express gratitude to the company's customers and employees.

Persons: Larry Ellison, Justin Sullivan, Larry Ellison's, Goldman Sachs, Ellison, Bill Gates, Let's, it's, Eric Lynch, Scharf, Salesforce, Kash Rangan, Oracle, Lynch, Safra Catz, Catz, Jefferies, Brent Thill Organizations: Oracle, Getty, Nvidia, Bloomberg, Microsoft, Scharf Investments, Google, Goldman, Amazon Web Services, Monday, Exxon Mobil, Pfizer Locations: San Francisco, TikTok, Cohere, IaaS, NetSuite, Los Gatos , California, Silicon Valley, A.I

☆ Oracle says it's seeing 'exploding AI demand' and Deutsche Bank touts one stock as a big beneficiary
▼ + stars: | 2023-06-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

A surge in demand for artificial intelligence at Oracle should have a positive effect on Digital Realty Trust , Deutsche Bank said. Analyst Matt Niknam pointed to commentary from Oracle CEO Safra Catz around "exploding AI demand" and "unprecedented" demand for the company's cloud services. Niknam has a $112 price target on Digital Realty, which implies shares could rally about 8% from Tuesday's close. As a real estate investment trust, Digital Realty also pays a dividend yield of about 4.6%. Demand is picking up for AI offerings from Digital Realty despite the company not doing much related leasing activity to date, Niknam said.

Persons: Matt Niknam, Safra, Niknam, — CNBC's Michael Bloom Organizations: Oracle, Digital Realty Trust, Deutsche Bank, Safra Catz, Digital Realty Locations: Tuesday's

☆ Stocks making the biggest moves premarket: Oracle, Urban Outfitters, Apple & more
▼ + stars: | 2023-06-13 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A sign is posted in front of Oracle headquarters on December 09, 2021 in Redwood Shores, California. Meanwhile, CEO Safra Catz said she expects adjusted earnings in the fiscal first-quarter of $1.12 to $1.16 per share. Urban Outfitters — Shares rose 3.4% following an upgrade to overweight from equal weight by Morgan Stanley. Apple — Apple declined 0.7% in the premarket after UBS downgraded the stock to neutral from buy late Monday. Home Depot is also slated to hold an investor day at 9 a.m.Ulta Beauty — The beauty stock rose 0.8% after Loop Capital upgraded Ulta Beauty to buy from hold.

Persons: Safra Catz, Refinitiv, Morgan Stanley, Apple —, Bunge, —, Brian Evans, Alex Harring, Hakyung Kim, Jesse Pound Organizations: Oracle, —, Apple, Apple — Apple, UBS, JPMorgan, Bunge, Target Locations: Redwood Shores , California, Rotterdam, Netherlands

☆ Oracle's biggest critic, Goldman Sachs, admits it was wrong about rating the stock a sell
▼ + stars: | 2023-06-13 | by ( Julie Bort | ) www.businessinsider.com time to read: +4 min

Oracle reported a record-breaking $49.95 billion in annual revenue thanks to success in cloud computing. It has convinced its biggest critic, Goldman Sachs, to change its mind about its potential. And on Tuesday, Oracle's biggest critic, Goldman Sachs analyst Kash Rangan, admitted he was wrong. He did gracefully swallow his pride enough to admit that since he first imposed the sell rating, the stock has climbed 46%. And he's also got his eye on Oracle's cash situation, given how expensive it is to build and maintain data centers.

Persons: Goldman Sachs, there's, Oracle's, Kash Rangan, Rangan, he's, What's, Safra Catz, it's, Morgan, Keith Weiss, luke, Weiss Organizations: Oracle, Morning, Yahoo Finance, Microsoft

☆ Larry Ellison tops Bill Gates as world's fourth-richest person, Bloomberg says
▼ + stars: | 2023-06-12 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Oracle (ORCL) founder Larry Ellison is reaping the benefits of artificial intelligence popularity, edging past Microsoft (MSFT) founder Bill Gates to land the number four spot on the Bloomberg Billionaires Index on Monday, according to Bloomberg. Ellison is now the world’s fourth-richest person, with a staggering $129.8 billion net worth, Bloomberg reported. He just squeaked past Gates, whose net worth — Bloomberg reported — is currently $129.1 billion. Ellison is the largest stockholder in Oracle and owns approximately 42.9% of its shares, a 2022 SEC proxy statement said. Five years later, they renamed their company “Oracle” after their software.

Persons: Larry Ellison, Bill Gates, Ellison, Gates, —, didn’t, Safra Catz, David Geffen, Musashi Organizations: New, New York CNN, Oracle, Microsoft, Bloomberg, — Bloomberg, Bank of America, SEC, Oracle Database Locations: New York, Tesla, California, Hollywood

☆ Opinion: The untold story about Anne Frank’s hiding place
▼ + stars: | 2023-04-20 | by ( Opinion Roy Schwartz | ) edition.cnn.com time to read: +10 min

British actors Bel Powley and Joe Cole play Miep and Jan, with Liev Schreiber as Otto Frank. Only Otto Frank survived. Anne Frank's (1929-1945) world famous diary charts two years of her life from 1942 to 1944, when her family were hiding in Amsterdam from German Nazis. Anne Frank has particularly been in the zeitgeist in recent years, with the 2021 French animated film “Where Is Anne Frank,” a magical retelling of her story loosely based on the 2018 graphic novel; the 2022 Dutch Netflix movie “My Best Friend Anne Frank,” based on the book “Memories of Anne Frank: Reflections of a Childhood Friend”; the controversial, eventually pulled 2022 book “The Betrayal of Anne Frank”; and “After the Annex: Anne Frank, Auschwitz and Beyond,” coming out in May. While 89% have heard of Anne Frank, 32% don’t know she died in a concentration camp.

☆ Oracle shares sink nearly 5% after third-quarter revenue miss
▼ + stars: | 2023-03-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +1 min

Oracle shares dropped nearly 5% after the enterprise tech giant reported its financial results for its 2023 fiscal third quarter. Here's how the company did:Earnings: $1.22 per share, adjusted, vs. $1.20 per share as expected by analysts, according to Refinitiv. $1.22 per share, adjusted, vs. $1.20 per share as expected by analysts, according to Refinitiv. Revenue: $12.40 billion vs. $12.42 billion as expected by analysts, according to Refinitiv. "Oracle's non-GAAP earnings per share growth hit the high end of our guidance—up 13% in constant currency to $1.22," Oracle CEO Safra Catz said in a statement.

☆ A generation of high-profile women tech leaders have stepped aside. What’s next?
▼ + stars: | 2023-02-24 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +7 min

The tech industry has now lost an entire generation of trailblazing women leaders and replaced them mostly with men. And in the wake of the pandemic, women leaders in corporate America more broadly are more likely than ever to quit, according to the most recent Women in the Workplace report from McKinsey & Company and LeanIn.Org. Now that she’s departing, Big Tech is facing a new reckoning over its failure to promote and support women leaders, and what this could mean for the next generation of women in the industry. “Without women in the C-suite who have come before them, it could make this transition period tougher for next generation women leaders,” Kray said. “I think that what she achieved and what she modeled will be something that will live on beyond the fact that now we don’t have a female Big Tech CEO.”

☆ Josh Brown buys Oracle on Uber deal, says 2023 could be the stock’s ‘coming out party’
▼ + stars: | 2023-02-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

Ritholtz Wealth Management CEO Josh Brown snapped up Oracle shares Tuesday morning, following the tech company's announcement of its partnership with Uber. On Monday, Oracle said it entered into a seven-year strategic cloud partnership with Uber to accelerate the ride-sharing platform's innovation and help deliver new products. It's a name that Brown said has been lost in the shuffle, adding this could be the year of its "coming out party." "This has been a very boring company that I have ignored for a decade," Brown said on CNBC's " Halftime Report ." The fact that Uber selected Oracle over Amazon Web Services, which powers Lyft , and over big player Microsoft is impressive, Brown said.

☆ Leaked Oracle org chart shows the top execs reporting to Larry Ellison after cloud leader Don Johnson's abrupt departure
▼ + stars: | 2023-01-30 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +2 min

Oracle's internal org chart shows the eight executives who report to chairman and CTO Larry Ellison. An internal Oracle organization chart shows the executives left reporting to cofounder Larry Ellison after cloud and health leader Don Johnson left the company. Johnson spent four years running Oracle's cloud business, Oracle Cloud Infrastructure, before stepping back in the last year. Larry Ellison Executive chairman and chief technology officer Andy Mendelsohn Executive vice president, Oracle Database Clay Magouyrk Executive vice president, Oracle Cloud Infrastructure Edward Screven Executive vice president and chief corporate architect Jeff Henley Executive vice chairman Juan Loaiza Executive vice president, Mission Critical Database Technologies Steve Miranda Executive vice president, Applications Development T.K. Anand Executive vice president, Analytics Maddie Giammona Executive assistantDo you work at Oracle or have insight to share?

☆ Oracle health cloud leader Don Johnson — once considered for co-CEO — has abruptly resigned, insiders say
▼ + stars: | 2023-01-24 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Oracle executive Don Johnson is abruptly leaving his key post, insiders say. Johnson was at one point named by Larry Ellison as a potential contender for Oracle co-CEO. Don Johnson — the former Oracle Cloud Infrastructure (OCI) boss once named by founder and CTO Larry Ellison as a potential contender for co-CEO — abruptly left his latest post, two people familiar with the matter said. Johnson came to Oracle from Amazon Web Services in 2014 and was tapped by Ellison in 2018 to run the company's all-important cloud unit, Oracle Cloud Infrastructure. About a year later, Johnson stepped down from the cloud and AI organization, according to another email viewed by Insider.

☆ Oracle beats on top and bottom lines
▼ + stars: | 2022-12-12 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Safra Catz, Oracle's CEO and then one of Oracle's two co-CEOs, smiles during Oracle's OpenWorld conference in San Francisco on, Sept. 20, 2016. Here's how the company did:Earnings: $1.21 per share, adjusted, vs. $1.18 per share as expected by analysts, according to Refinitiv. $1.21 per share, adjusted, vs. $1.18 per share as expected by analysts, according to Refinitiv. Health care software company Cerner, which Oracle acquired for $28 billion in June, contributed $1.5 billion in revenue. Without the impact from foreign-exchange rates, Oracle's adjusted earnings would have been 9 cents higher, the company said.

☆ Oracle Hires Chief Legal Officer From Facebook’s Blockchain Project
▼ + stars: | 2022-11-10 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

Oracle Corp. said it has hired the former chief executive officer of Meta Platforms Inc.’s now-closed cryptocurrency project as its new legal chief, the company said Thursday. Stuart Levey until June served as the CEO of the Diem Association, Meta Platform’s cryptocurrency project, also formerly known as Libra. Mr. Levey joined the Diem Association in August 2020 after working at HSBC Holdings PLC for more than eight years, including serving as the bank’s chief legal officer and managing more than 900 lawyers. Between 2004 and 2011, Mr. Levey served as the U.S. Treasury Department’s undersecretary for terrorism and financial intelligence, one of the agency’s top officials in charge of imposing sanctions and combating illicit finance. Representatives for Oracle declined to make Mr. Levey available for an interview.

☆ How Google's former CEO Eric Schmidt helped write AI laws in Washington without publicly disclosing investments in AI start-ups
▼ + stars: | 2022-10-24 | by ( Eamon Javers | ) www.cnbc.com time to read: +18 min

'Conflict of interest'Schmidt's investment was just the first of a handful of direct investments he would make in AI start-up companies during his tenure as chairman of the AI commission. Altogether, Schmidt and entities connected to him made more than 50 investments in AI companies while he was chairman of the federal commission on AI. To Poulson, Schmidt was simply given too much power over federal AI policy. The new entity would continue the work of the congressionally created federal commission, with many of the same goals and much of the same staff. More than a dozen staffers from the federal commission followed Schmidt to the new private sector project.

☆ Oracle’s Ellison’s Compensation Topped $130 Million Last Fiscal Year
▼ + stars: | 2022-09-24 | by ( Theo Francis | ) www.wsj.com time to read: 1 min

Oracle top executives are again among the highest-paid at big U.S. companies, thanks to a decision last year to give them more time to earn stock options. Oracle Corp.’s Chairman Larry Ellison and Chief Executive Safra Catz were each paid total compensation of more than $138 million in the company’s fiscal year ended May 31, the company said in its annual proxy statement Friday.

☆ We just got our best sign yet that Oracle's core business is getting stronger even without spending big cash on acquisitions like Cerner
▼ + stars: | 2022-09-13 | by ( Belle Lin | ) www.businessinsider.com time to read: +5 min

The database giant's overall revenue grew 18% in the quarter from the same period last year, and its cloud revenue grew 45% to $3.6 billion. That's including the contributions of Cerner, the medical-records company Oracle bought for $28 billion in a big bet on the healthcare market. But it still lags far behind Amazon, Microsoft, and Google in cloud market share, which means it can't afford to stop investing in its cloud platform. The capability allows Amazon Web Services customers to use Oracle's database without leaving AWS. Sources said Oracle's cloud group was virtually unaffected by the cuts.

☆ The executive running Oracle's tattered marketing group, called 'the hatchet man' by some employees, is tasked with cutting costs, insiders say
▼ + stars: | 2022-08-26 | by ( Belle Lin | Ryan Joe | ) www.businessinsider.com time to read: +10 min

Oracle's marketing team "imploded" following layoffs and the departure of its CMO this summer. A source told Insider that means salespeople will be selling products to sectors they never had before, including healthcare, which is now a key focus with Cerner. Plus, products like Oracle's cloud infrastructure face competition from tech giants like Amazon, making marketing a key lever in that fight. That morning, nearly 50% of some marketing groups received phone calls that they were being laid off, including Kelman's senior staff, multiple sources told Insider. Oracle's marketing structure, as it once was, is gone.

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