Oracle Corporation

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  • Jul. 1, 2014, 12:29 AM
    • A week after announcing a $5.3B deal to buy Micros, Oracle (ORCL) has sold $10B in debt. Maturity dates range from 3 years to 30. 5-year notes yield just 2.3%, and 30-year notes 4.5%. The sale is the 2nd-largest dollar-denominated corporate bond offering in 2014, behind Apple's $12B April offering.
    • Aside from financing the Micros deal, there's a good chance some of the funds will be used on buybacks. Oracle spent $2B on buybacks in both the February and May quarters.
    • The software giant had $38.8B in cash/investments at the end of May (much of it offshore), and $24.2B in debt.
    | Jul. 1, 2014, 12:29 AM | 4 Comments
  • Jun. 23, 2014, 8:16 AM
    • Earlier rumors had Micros (MCRS) going for about $5B, and final deal for $5.3B works out to $68 per share.
    • The purchase is expected to be immediately accretive to Oracle's non-GAAP earnings and to "expand over time," says Oracle CFO Safra Catz.
    • MCRS +2.2% premarket to $67.20. ORCL +0.3%.
    • Previously: Bloomberg: Oracle close to buying Micros for ~$5B
    | Jun. 23, 2014, 8:16 AM
  • Jun. 23, 2014, 2:02 AM
    • Oracle (ORCL) is expected to announce a $5B acquisition of MICROS Systems (MCRS) this morning. The deal values MICROS at more than $67 a share, a slight premium to its $65.77 Friday close.
    • If confirmed, the acquisition would be Oracle's largest deal since it bought Sun Microsystems for $5.6B in 2009.
    • ORCL +0.1% AH
    | Jun. 23, 2014, 2:02 AM | 1 Comment
  • Jun. 20, 2014, 11:00 AM
    • The license growth worries that plagued Oracle (ORCL -5.7%) much of last year are back with a vengeance following yesterday's FQ4 miss, in spite of the in-line guidance that followed it.
    • Citi has cut shares to Neutral, arguing SaaS (cloud app) strength isn't reflected in earnings. Before the downgrade, the firm noted estimated total license revenue of $4.09B missed its $4.3B estimate.
    • But Oracle also has its defenders. BMO (Outperform) asserts Oracle's cloud transition efforts are still going well, and that "new product releases across the board should be a tailwind to growth."
    • The firm attributes the FQ4 miss to an apparent "thousand cuts" that include deal slippage, Asia-Pac weakness (an ongoing issue), a shift from up-front license payments to cloud subscriptions, and potential order delays ahead of Oracle's 12c database launch (previous).
    • Separately, Oracle has announced it's buying LiveLOOK, a developer of co-browsing/screen sharing tech for Web customer support apps. Terms are undisclosed.
    • Oracle, which bought cloud customer support firm RightNow in 2011, plans to integrate LiveLOOK's offerings with its Service Cloud platform. Rival LivePerson (LPSN -0.9%) recently announced a deal to buy co-browsing tech developer Synchronite.
    • Prior coverage. CC transcript.
    | Jun. 20, 2014, 11:00 AM | 2 Comments
  • Jun. 20, 2014, 9:14 AM
    | Jun. 20, 2014, 9:14 AM | 2 Comments
  • Jun. 19, 2014, 5:37 PM
    • Top gainers, as of 5:15 p.m.: ETE +5.2%. MACK +4.6%. SBGI +4.5%. CVT +3.5%. ITC +3.2%.
    • Top losers, as of 5:15 p.m.: ORCL -5.4%. EXL -4.1%. EOX -2.9%. NLNK -2.8%. SSE -1.8%.
    | Jun. 19, 2014, 5:37 PM | 3 Comments
  • Jun. 19, 2014, 5:26 PM
    • Oracle (ORCL) expects FQ1 revenue growth of 4%-6% Y/Y, and EPS of $0.62-$0.66. That's in-line with a consensus of 4.8% growth and $0.64.
    • New software license/cloud revenue is expected to be up 6%-8% Y/Y, an improvement from FQ4 and driven by an expected 25%-35% increase in SaaS/PaaS revenue. Hardware systems revenue is expected to see -1% to +3% growth.
    • CFO Safra Catz noted a $102M forex loss (Venezuela-related) pressured FQ4 EPS by $0.02.
    • FQ4 results, details
    | Jun. 19, 2014, 5:26 PM | 2 Comments
  • Jun. 19, 2014, 4:22 PM
    • With cloud competition continuing to take a toll, Oracle's (ORCL) new software license revenue was flat Y/Y in FQ4 at $3.77B. Cloud app (SaaS) and app platform (PaaS) revenue rose 25% to $322M, and cloud infrastructure (IaaS) revenue 13% to $128M.
    • Altogether, new license/cloud revenue rose 2% Y/Y to $4.22B. Oracle had guided for 0%-10% new license/cloud subscription growth.
    • License update/product support revenue (stems from existing deals, relatively stable) rose 7% to $4.7B after growing 5% in FQ3. Hardware product sales +2% to $870M, near the low end of a 0%-10% guidance range. Hardware support +2% to $596M.
    • $2B was spent on buybacks, even with FQ3 and boosting EPS. GAAP opex +8% Y/Y - sales/marketing +6%, R&D +7%.
    • CC at 5PM ET, guidance will be provided. FQ4 results, PR.
    | Jun. 19, 2014, 4:22 PM
  • Jun. 19, 2014, 4:05 PM
    • Oracle (ORCL): FQ4 EPS of $0.92 misses by $0.03.
    • Revenue of $11.32B (+3.4% Y/Y) misses by $160M.
    • Shares -8.26% AH.
    | Jun. 19, 2014, 4:05 PM | 12 Comments
  • Jun. 18, 2014, 5:35 PM
    | Jun. 18, 2014, 5:35 PM | 2 Comments
  • Jun. 17, 2014, 12:05 PM
    • Bloomberg reports Oracle (ORCL +0.9%) is close to buying leading point-of-sale hardware/software vendor Micros (MCRS +17.6%) for ~$5B.
    • Micros has soared on the report; its market cap is currently at $5.05B. Peers NCR (NCR +3.4%), VeriFone (PAY +2.2%), and PAR Technology (PAR +4.6%) are also up. Oracle has ticked higher.
    • If the report holds, Oracle will be paying ~24x FY15E (ends June '15) EPS. Micros has a long list of retail/hospitality industry clients that Oracle could offer integrated CRM hardware/software solutions to.
    • IBM and SAP have each shown an interest in growing software sales to retailers. However, Big Blue sold its POS hardware business to Toshiba in 2012.
    | Jun. 17, 2014, 12:05 PM | 4 Comments
  • Jun. 10, 2014, 6:42 PM
    • The in-memory version of Oracle's (ORCL) flagship 12c database, first detailed last September, has officially launched. Oracle continues to promise major gains in query speeds and transaction-processing rates relative to a standard database, as well as easy integration with both regular Oracle databases and 3rd-party apps.
    • The launch is aimed squarely at SAP's Hana in-memory database, which saw its sales rise 61% last year to €633M ($855M) and has developed a strong ecosystem.
    • As one might expect, Oracle argues integration with standard 12cand mature database feature set give it an edge - Larry Ellison claims data can be moved in-memory "within minutes." Ellison adds 12c in-memory is only meant to handle active data; all other data is left on cheaper flash memory or hard drives.
    • In April, Microsoft updated its SQL Server database (has gained share against Oracle in recent years) to include in-memory features.
    | Jun. 10, 2014, 6:42 PM
  • May 30, 2014, 6:41 PM
    • IDC estimates global server sales fell 2.2% Y/Y in Q1, a slightly smaller decline than the 4.4% drop seen in Q4. Gartner, however, puts the decline at 4.1%.
    • The embrace of white-label hardware by Web giants continues taking a heavy toll: IDC thinks white-label sales, which it calls ODM Direct, grew 75% Y/Y (up from Q4's 47% clip) and made up 7.3% of industry revenue, up from 6.4% in Q4 and 4.1% a year ago.
    • IDC estimates market leader H-P (HPQ) saw its share hold steady at 26.5%, after having grown (at IBM's expense) 260 bps Y/Y in Q4. #2 IBM, whose hardware sales have been battered, saw its share fall 600 bps Y/Y to 19.1%.
    • #3 Dell's share slipped 20 bps to 18%, while #4 Cisco (CSCO), which just reported a 29% Y/Y April quarter sales jump for its UCS server segment, saw its share rise 170 bps to 5.7%. #5 Oracle (ORCL), whose server sales are finally stabilizing thanks to engineered systems growth, rose 20 bps to 4.9%.
    • Sales of x86 servers, over 90% of which contain Intel (INTC) CPUs, rose 4.9% after growing 7.8% in Q4. Non-x86 server sales tumbled 25.2%, and now make up just 17.9% of industry revenue.
    • Cisco now has an estimated 24.4% of the blade server market, behind only H-P's 43.7%.
    | May 30, 2014, 6:41 PM | 11 Comments
  • May 16, 2014, 6:41 PM
    • Oracle (ORCL) is buying GreenBytes, a developer of software that optimizes the storage performance/efficiency of PC virtualization solutions (allows PC resources to be hosted on/managed by a server). Terms are undisclosed.
    • Oracle says it plans to integrate GreenBytes' technology with its ZFS storage appliances (part of its engineered systems lineup). As it is, GreenBytes' software supports the open-source ZFS file system (obtained by Oracle through the Sun Microsystems deal).
    • The Register's Chris Mellor observes GreenBytes' software includes a "highly rated" deduplication engine that could be used by Oracle's appliances. He speculates (given GreenBytes' past funding activity) Oracle may have paid ~$150M-$185M for the startup.
    | May 16, 2014, 6:41 PM
  • May 2, 2014, 7:36 AM
    • SocGen has upgraded Oracle (ORCL) to Buy, and upped its PT by $11 to $48. The firm cites a low valuation and the potential for Oracle to benefit from a database upgrade cycle.
    • Shares rose on Wednesday after Pac Crest and RBC issued bullish notes in the wake of Oracle's Cloud Forum.
    | May 2, 2014, 7:36 AM | 1 Comment
  • Apr. 30, 2014, 3:52 PM
    • "Oracle (ORCL +1.8%) has a significant advantage because it has a broader set of applications than its competitors," asserts Pac Crest's Brendan Barnicle after taking in the software giant's Tuesday Cloud Forum.
    • Barnicle also liked Oracle's efforts to trumpet cloud customer wins, and thinks the company is adding new mid-market clients. His PT has been hiked to $45 from $40 on a belief Oracle can trade at 14x his FY15 (ends in May) EPS estimate of $3.28 (above a $3.19 consensus).
    • Stifel has also upped its PT (from $45 from $43). While many faster-growing (and more richly-valued) cloud software rivals have been routed in March and April, Oracle is close to its 52-week high of $42 after underperforming the Nasdaq last year due to competitive/top-line worries.
    | Apr. 30, 2014, 3:52 PM
Company Description
Oracle Corporation develops, manufactures, markets, hosts and supports database and middleware software, application software, cloud infrastructure, hardware system including computer server, storage and networking products and related services.
Sector: Technology
Country: United States