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☆ Stocks making the biggest moves premarket: SVB Financial, Allbirds, DocuSign and more
▼ + stars: | 2023-03-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The news weighed on the entire banking sector for a second day, with First Republic Bank losing 7.5% in the premarket and crypto focused Signature Bank down 4%. Allbirds — Shares of the footwear retailer plummeted more than 22% after the company failed to post year-over-year quarterly sales growth for the first time in its history. Oracle — The software company dropped 4.9% after revenue for its latest quarter missed analysts' expectations. It also issued weaker-than-expected guidance for its first quarter and full-year revenue, according to Refinitiv. The Wall Street firm said it's confident the online gaming platform will continue to show strong growth in spite of macro pressures.

☆ Stocks making the biggest moves after hours: SVB Financial, Oracle, Gap and more
▼ + stars: | 2023-03-09 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Oracle — The information technology company dropped 4.9% after beating analysts' expectations on earnings but missing on revenue for its third quarter. But its revenue came in lower, at $12.40 billion compared with the $12.42 billion Wall Street anticipated. Ulta — The beauty retailer slid 2.1% despite beating analysts' expectations for both the top and bottom lines, according to Refinitiv, and issuing upbeat forward guidance. The company beat revenue expectations with $1.1 billion compared with the $1.07 billion anticipated by analysts polled by FactSet. The company's guidance on net income and adjusted EBITDA for the year leading up to July came in under analysts' expectations.

☆ Uber Signs Cloud Deals With Google and Oracle
▼ + stars: | 2023-02-13 | by ( Belle Lin | ) www.wsj.com time to read: +5 min

Over 95% of Uber’s IT is currently housed in those data centers, he said. Uber declined to comment on how it plans to spread its data and applications between Google and Oracle’s cloud platforms. While Uber and Google have an existing partnership, the new cloud deal brings them closer together in other areas including launching new services, said Google Cloud Chief Executive Thomas Kurian. With Oracle, Uber is planning to integrate its freight business into Oracle’s cloud-based enterprise resource planning system, as well as other database-related projects, said Oracle Cloud Executive Vice President Clay Magouyrk. Mr. Zargahi said Uber eventually expects the cloud to cost less than its data centers, and will not renew certain data center leases as it moves to the cloud.

☆ Saudi Arabia says tech giants to invest more than $9 billion in kingdom
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

RIYADH, Feb 6 (Reuters) - Saudi Arabia has attracted more than $9 billion in investments in future technologies, including by U.S. giants Microsoft (MSFT.O) and Oracle Corp (ORCL.N), which are building cloud regions in the kingdom, a government minister said on Monday. Saudi Minister of Communication and Information Technology Abdullah Alswaha said Microsoft will invest $2.1 billion in a global super-scaler cloud, while Oracle has committed $1.5 billion to build a new cloud region in Riyadh. Saudi officials have pressed international companies to invest in the kingdom and move their regional headquarters to Riyadh in order to benefit from government contracts. The minister said China's Huawei (HWT.UL) will also invest $400 million in cloud infrastructure for its services in Saudi Arabia and another cloud region in partnership with oil giant Aramco (2222.SE). An additional $4.5 billion was invested in global and local assets across multiple sectors at the forum, Alswaha added.

☆ The generative AI boom is bringing San Francisco’s tech scene roaring back to life
▼ + stars: | 2023-01-31 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Techies fled from San Francisco during the pandemic, and its resurgence stalled for a while. It's just south of Japantown, mere blocks from San Francisco City Hall, and north of the Mission District. Someone even said it would be "irresponsible" to not work on generative AI in San Francisco. There aren't any skeptics in the space yet, and the majority of generative AI investments land in the Bay Area. Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Matt Weinberger (tweet @gamoid) in San Francisco and Hallam Bullock (tweet @hallam_bullock) in London.

☆ 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?

☆ TikTok tries to sell ‘Project Texas’ as it fights for survival in the U.S.
▼ + stars: | 2023-01-26 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +4 min

Some of the details appeared Thursday on the security blog Lawfare, where two people provided a rundown of what they said they heard at one TikTok briefing last week. He said his center has received funding from TikTok, but that he had no view on whether TikTok’s assurances were satisfactory. “We have shifted our approach,” Erich Andersen, the general counsel of ByteDance, the Chinese owner of TikTok, told the Times. A key partner of TikTok is the U.S. computing giant Oracle, which has its headquarters in Austin, Texas, where TikTok may choose to house the data of its U.S. users. The code name “Project Texas” became public last year.

☆ Leaked Oracle emails show a key exec is leaving amid more layoffs and changes to its advertising business
▼ + stars: | 2023-01-26 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Oracle Advertising laid off another round of employees this month and the unit's chief product officer, Derek Wise, is leaving, according to internal emails viewed by Insider. Previously called Oracle Data Cloud, Oracle renamed its cloud-based advertising and customer relationship management software to Oracle Advertising and Customer Experience. Oracle Advertising now falls under Edward Screven, Oracle's executive vice president and chief corporate architect who reports to founder and CTO Larry Ellison. "Over the past few days we have had to make some very tough choices about the future of Oracle Advertising," Vlaovic wrote in a Jan. 17 email. "Our strategy in Oracle Advertising moving forward is to be more focused and be able to self-fund our growth."

☆ Salesforce employees demand answers from execs about layoffs
▼ + stars: | 2023-01-25 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Salesforce employees demand answers. More than 500 employees wrote a letter to execs, demanding answers about the layoffs. Amazon employees told not to share confidential info with ChatGPT. Current and former employees told Insider that the social media company is shedding employees. This is what employees told us.

☆ 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.

☆ Wall Street likes software stocks for the long term. Here are top picks from Goldman, Citi and more
▼ + stars: | 2023-01-23 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

Citi is also sounding a cautious tone on the sector, calling 2023 a "year of dichotomy in software." Stock picks CNBC Pro had a look at Wall Street research to find the banks' top stock picks to play the software sector. The bank said the company's already "healthy" operating margins could grow about 20%. Goldman also likes tax technology software firm Vertex for its potential to "drive higher cloud margins over time." German software firm SAP is one of Bank of America 's top picks in European software.

☆ Piper Sandler upgrades Oracle, says years of low growth are coming to an end
▼ + stars: | 2023-01-09 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Oracle could jump more than 20% as it jumpstarts growth with Cloud, according to Piper Sandler. "That said, F2024 is shaping up to be a watershed year, where growth in operating profits and EPS could accelerate to 10%+," Bracelin added. For investors, the implied upside in Oracle shares would come mainly from growth in Oracle Cloud, which is expected to soon surpass revenues from database software for the company. "Despite all the banter on cloud, the 1% CAGR in revenue and operating profits between F2012-F2022 made it easy to ignore ORCL. That may no longer be the case given Oracle Cloud could expand ~26% annually to reach $21.7B by F2025," read the note.

☆ If TikTok gets banned in the US, Oracle could be the secret loser
▼ + stars: | 2022-12-21 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

TikTok's US user data is on Oracle servers, so a ban would hurt its fast-growing cloud business. Any federal TikTok ban would have far-reaching implications for the future of tech regulation, for America's relationship with China, and for the growing ecosystem of creators on the app. But the entity that might take the hardest impact from any TikTok ban is one you may not expect: Oracle, one of its biggest partners in the US. "It's been a coup for Oracle to get this, and if they lost it because of the TikTok ban, those are tough shoes to fill." The deal was a huge boon to Oracle's cloud business, and is likely one important reason the cloud infrastructure business is growing so quickly, analysts told Insider.

☆ Top Wall Street analysts pick these stocks for 2023
▼ + stars: | 2022-12-18 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

To help the process, here are five stocks chosen by Wall Street's top analysts, according to TipRanks, a service that ranks analysts based on their track record. The solid execution exhibited by the company against a difficult economic backdrop, especially for the tech sector, managed to impress several Wall Street analysts. Ranked at Number 703 among more than 8,000 analysts, White has a success rate of 54%. Giving us good reason to consider the analyst's convictions is his 370th position among more than 8,000 analysts followed on TipRanks. Standing at the 402nd position, 63% of the analyst's ratings have been profitable.

☆ Stocks making the biggest moves in the premarket: Oracle, Boeing, Moderna and more
▼ + stars: | 2022-12-13 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Boeing (BA) – Boeing rose 2.2% in premarket action after United Airlines (UAL) announced a 200-jet order that includes 100 787 Dreamliners and 100 737 Max jets, with options for further purchases. Moderna (MRNA) – The drugmaker announced that its experimental melanoma vaccine combined with Merck (MRK) cancer treatment Keytruda cut the risk of skin cancer recurrence by 44% compared with a treatment of only Keytruda. First Solar (FSLR) – First Solar rose 1.1% in premarket trading following news that it will replace Fortune Brands Home & Security (FBHS) in the S&P 500. Mirati Therapeutics (MRTX) – Mirati Therapeutics surged 8.6% in premarket trading after the drugmaker's new lung cancer treatment adagrasib received Food and Drug Administration approval. Fiverr (FVR) – Fiverr added 1.1% in premarket trading after Citi initiated coverage of the stock with a "buy" rating.

☆ Stocks making the biggest moves after hours: Oracle, Bank of Montreal and more
▼ + stars: | 2022-12-12 | by ( Samantha Subin | ) www.cnbc.com time to read: 1 min

A sign is posted in front of Oracle headquarters on December 12, 2022 in Redwood Shores, California. Oracle will report second quarter earnings today after the closing bell. Check out the companies making headlines after the bell:Oracle — Shares gained 2% in extended trading after the software stock beat analysts' estimates on the top and bottom lines for the fiscal second quarter. Trimble — Shares of the construction software company fell more than 3% after Trimble announced plans to acquire Transporeon in an all-cash deal valued at 1.88 billion euros. Bank of Montreal — The bank stock tumbled more than 4% after announcing a common stock offering to fund regulatory expenses and additional costs.

☆ Google, Oracle, Amazon, and Microsoft awarded $9 billion Pentagon cloud deals
▼ + stars: | 2022-12-07 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

The Pentagon said Wednesday that Amazon , Google , Microsoft and Oracle each received a cloud-computing contract that can reach as high as $9 billion each through 2028. Originally, the Pentagon had awarded the Joint Enterprise Defense Infrastructure, or JEDI, to Microsoft in 2019. A legal battle ensued as Amazon, the top player in the cloud infrastructure market, challenged the Pentagon's decision. Last year the Pentagon changed its approach, asking for bids from Amazon, Google, Microsoft and Oracle to address cloud needs. Oracle generated $900 million in cloud infrastructure revenue in the quarter that ended Aug. 31, a small fraction of the $20.5 billion total for Amazon's cloud subsidiary, Amazon Web Services, in the third quarter.

☆ National security concerns reportedly delay TikTok-U.S. deal
▼ + stars: | 2022-12-07 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

The government has yet to come back with TikTok with new requests on how to address the concerns, the Journal reported based on unnamed sources. TikTok confirmed it has not received an update from the government about any unresolved concerns. The two sides had reached broad agreements about storing U.S. user data on Oracle servers in the U.S., the Journal reported, moving it from TikTok data centers in Virginia and Singapore. U.S. officials and lawmakers have been vocal about their security concerns with TikTok. Cowen analysts wrote Wednesday that Meta's Reels, short-form videos similar to those on TikTok, "would be the biggest beneficiary" of a TikTok ban, followed by YouTube's Shorts.

☆ Fintech darling Brex is requiring potential engineering hires to be located outside of New York and California. Here's why the startup calls that its 'competitive advantage'
▼ + stars: | 2022-11-07 | by ( Emilia David | ) www.businessinsider.com time to read: +3 min

The fintech startup follows companies like Oracle in hiring outside of traditional tech hubs. Instead of limiting its hiring pool to San Francisco, the startup can now tap into qualified candidates anywhere, it said. In a note to employees, Brex CEO Pedro Franceschi said the current economic environment contributed to the decision to lay off workers. Tech workers traditionally concentrated in certain hubs, but research showed remote work helped expand tech talent into many other cities. But besides the cost cutting benefits other companies experience, hiring outside of tech hubs lets go of some traditional talent restraints, Brex said.

☆ Elon Musk has given us a glimpse into his plans for increasing Twitter's revenue
▼ + stars: | 2022-11-02 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +4 min

If you're snoopy like me, you probably spend a lot of time looking at homes on Zillow or Google Maps. It's not all Google Maps-based side-hustle stories today; We've got other tech news to get to. There's a lot going on in the Musk-Twitter universe this week, and while much remains murky, Musk's plans for generating revenue (and cutting costs) are starting to solidify. Amazon Prime members just got a new perk. Per The Verge, Prime subscribers now have access to Amazon Music's full catalog of 100 million songs — but will only be able to listen on shuffle unless they pay extra.

☆ Oracle layoffs finally hit its all-important cloud unit, as sources say as many as 200 are laid off
▼ + stars: | 2022-11-01 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +1 min

Oracle laid off as many as 200 employees in its cloud unit on Tuesday, two sources tell Insider. The cloud unit has largely been insulated from layoffs this year. Oracle's cloud unit on Tuesday laid off as many as 200 employees, according to two people familiar with the matter. The company has had layoffs throughout the year, but its important Oracle Cloud Infrastructure (OCI) unit has been insulated unit now. Oracle last week began layoffs in a separate cloud unit, North America Cloud Infrastructure & Technology (NACT) unit, according to internal emails viewed by Insider.

☆ Oracle is shunning job seekers in high-paying tech hubs like San Francisco, Seattle, and New York to cut costs: 'They're OK passing on the top candidates'
▼ + stars: | 2022-10-25 | by ( Ellen Thomas | Jessica Xing | ) www.businessinsider.com time to read: +9 min

Oracle hiring managers and recruiters have been told to fill roles in cheaper US cities or abroad. Filling roles in areas where talent is cheaper, especially outside the US, has long been a cost-saving strategy for Oracle hiring managers, current and former employees said. "That sounds crazy to me," said Oracle executive Ken Glueck in response to a description of the claims made by Oracle employees in this story. Glueck did not directly answer whether the company was prioritizing hiring candidates outside of tech hubs like the San Francisco Bay Area, Seattle, and New York. Cities like Philadelphia, Dallas Fort-Worth, and Denver saw the highest growth rates for tech salaries this year.

☆ Oracle is steering clear of talent from major tech hubs in the cloud giant's latest more to save money and curb labor costs
▼ + stars: | 2022-10-25 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +5 min

It's part of the cloud giant's plan to curb labor costs that insiders say is starting to hurt morale. Oracle is steering clear of job-seekers in major tech hubs. These guidelines come amid other hiring restrictions implemented at the cloud giant, which employees say are further tanking already low morale. In some cases, hiring managers are being asked to backfill formerly US-based roles with candidates from Eastern Europe to save money. Oracle is trying to cut $1 billion in costs and has already had two rounds of layoffs in recent months.

☆ A Facebook contractor describes what it's like working on the company's customer service front lines
▼ + stars: | 2022-10-20 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +4 min

In a conversation with Insider, a Meta customer service agent working for third-party firm described what it's like to work with customers, from torrents of abuse to insomnia from the stress. Each day, she fields around 20 cases a day from organizations, businesses, celebrities, and creators who depend on Facebook and Instagram for their livelihoods. More than 200 Gopuff customer service workers were let go last week. On a podcast, Glenn Howerton said he was locked out of his Tesla when his key fob broke, and that he had a difficult time reaching customer service, saying that Tesla "lost a customer." Acquired a decade ago for $22 billion, WhatsApp has yet to become a big business for Facebook.

☆ How Oracle won the carmaker Subaru as a cloud customer by being cheaper than the competition
▼ + stars: | 2022-09-29 | by ( Belle Lin | ) www.businessinsider.com time to read: +4 min

The Japanese carmaker Subaru is using Oracle's cloud for its high-performance computing. Discounting is also a common tactic to win over those marquee customers — especially as the use of multiple cloud providers has become more common. Subaru completed the move from its data centers to Oracle's cloud in about six months, anticipating a 30% reduction in its technology costs after moving to the cloud, Takekuma said. Subaru is also using other cloud providers in other parts of the company, including Google Cloud for some of its machine learning and artificial-intelligence capabilities. "So it's absolutely critical that our data transfer, our authentication, all of those pieces, are able to smoothly interface with the other cloud providers'."

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