U.S. Markets open in 3 hrs 39 mins

Amazon fires back at Oracle's Larry Ellison: 'No facts, wild claims, and lots of bluster'

Becky Peterson
OOW SF17 Larry Ellison 2

(Oracle chairman Larry Ellison spent much of his keynote comparing Oracle's database services to Amazon's.Oracle)
Amazon doesn't think much of Larry Ellison.

At OpenWorld, Oracle's annual user conference, Ellison, the company's chairman, spent much of his keynote touting the company new database and bashing Amazon's rival product. To hear Ellison tell it, Oracle 18c is not only faster, cheaper, and better than Amazon's Redshift database, it can do things that Redshift can't do.

Amazon begged to differ on Monday. A representative for the company's Amazon Web Services cloud unit not only called Ellison's claims "factually incorrect," but accused him of being full of blarney. 

"Most people know already that this sounds like Larry being Larry," the representative said. "No facts, wild claims, and lots of bluster."

One of the chief bones of contention was Ellison's claim that Amazon's Redshift database isn't "elastic." Elasticity refers to the ability to quickly and efficiently adapt to different sized workloads.

Contrary to Ellison, the AWS representative insisted that Redshift is indeed "elastic." 

"Customers can resize their clusters whenever they want or can scale compute separately from storage," the representative said.

In addition to bashing Amazon, Ellison used his time on stage to tout Oracle 18c, a new autonomous database. With those two things together, Ellison made one thing clear: Oracle considers AWS to be its biggest competitor. 

While AWS is the industry leader in cloud computing, Oracle has long-held the reins in databases. In 1979, Oracle became the first company to commercially release what's known as a relational database — now the industry standard. 

Oracle Amazon Larry Ellison 2017 OpenWorld

(Ellison shows the audience a slide calling the Amazon Relational Database Service "not reliable."Oracle)
AWS released its first database product, the Amazon Relational Database Service, in 2009. Amazon's database service can be used on top of Oracle's database.

Oracle's dominance has slipped in recent years, as AWS's developed a reputation for having cheap and quick cloud and database offerings, and Ellison has started to address the growing threat from Amazon. His OpenWorld keynote last year was similarly focused on how Oracle's cloud is better than Amazon's. 

"You know when I'm talking about Amazon, I'm being nothing but fair. You can count on that," Ellison said at the time. 

Whether or not customers agree is of great monetary importance to Ellison. He and Oracle's co-CEOs, Safra Catz and Mark Hurd, are under tremendous pressure to increase the company's cloud revenues and raise its stock price to $80 a share. They will only receive their stock awards — which represents the bulk of their compensation — if they meet their goals by 2020. 

So far, it's not looking good. Following a disappointing quarterly forecast on September 15, Oracle's stock price plunged 8%, and it has yet to recover.

NOW WATCH: Here are all the major changes coming to your iPhone September 19



More From Business Insider

  • Here is What Hedge Funds Think About Dunkin Brands Group Inc (DNKN)
    Business
    Insider Monkey

    Here is What Hedge Funds Think About Dunkin Brands Group Inc (DNKN)

    We're going to view the new hedge fund action surrounding Dunkin Brands Group Inc (NASDAQ:DNKN). How are hedge funds trading Dunkin Brands Group Inc (NASDAQ:DNKN)? Heading into the third quarter of 2019, a total of 23 of the hedge funds tracked by Insider Monkey were long this stock, a change of 5% from one quarter earlier.

  • Did Hedge Funds Drop The Ball On Entegris Inc (ENTG) ?
    Business
    Insider Monkey

    Did Hedge Funds Drop The Ball On Entegris Inc (ENTG) ?

    The financial regulations require hedge funds and wealthy investors that crossed the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. In this article, we analyze how these elite funds and prominent investors traded Entegris Inc (NASDAQ:ENTG) based on those filings. Entegris Inc (NASDAQ:ENTG) was in 24 hedge funds' portfolios at the end of the second quarter of 2019.

  • Is Now An Opportune Moment To Examine Amsterdam Commodities N.V. (AMS:ACOMO)?
    Business
    Simply Wall St.

    Is Now An Opportune Moment To Examine Amsterdam Commodities N.V. (AMS:ACOMO)?

    Amsterdam Commodities N.V. (AMS:ACOMO), which is in the consumer retailing business, and is based in Netherlands, received a lot of attention from a substantial price movement on the ENXTAM over the last few months, increasing to €19.96 at one point, and dropping to the lows of €17.60. A question to answer is whether Amsterdam Commodities's current trading price of €19.18 reflective of the actual value of the small-cap? Let's take a look at Amsterdam Commodities's outlook and value based on the most recent financial data to see if there are any catalysts for a price change.

  • Tesla to start Powerwall home battery installations in Japan
    Business
    Reuters

    Tesla to start Powerwall home battery installations in Japan

    Tesla Inc will start installing its Powerwall home power storage batteries in Japan next spring, the U.S. electric car and battery maker said on Tuesday, marking the product's debut in Asia. The 13.5 kilowatt-hour (kWh) Powerwall can store power generated by solar panels and costs 990,000 yen ($9,135), including the Backup Gateway system which manages the grid connection, but excluding installation costs and retail tax. It will be sold directly online by Tesla or via certain third-party installers.

  • Business
    Financial Times

    Why the renminbi’s challenge to the dollar has faded

    A decade ago, China launched a high-profile challenge to the dominance of the US dollar, projecting a greater role for the renminbi in the global financial system. The dollar is still used on one side of 88 per cent of all foreign exchange trades, according to the latest triennial survey by the Bank for International Settlements, while the renminbi's share is just 4 per cent, with a rise in turnover “only slightly faster” than the overall market. In Hong Kong, renminbi deposits tracked by the Hong Kong Monetary Authority have dropped more than a third from their 2014 peak.

  • Finance
    Financial Times

    Family feud at La Repubblica owner bursts into the open

    A feud at one of Italy's most powerful dynasties has burst into the open after tycoon Carlo De Benedetti sought to regain a stake in the newspaper business he founded and has accused his sons of mismanaging. Shares in GEDI media group, which is home to titles including La Repubblica and La Stampa, surged more than 15 per cent on Monday after the octogenarian made a €38m offer over the weekend to buy a 30 per cent stake in the group. The 84-year-old, who has been a towering figure in Italian media for almost half a century, also launched a withering attack on his sons Rodolfo De Benedetti, 58, and Marco De Benedetti, 57, to whom he handed control of GEDI in 2012.

  • Hong Kong Protesters Shift Tactics as Demonstrations Stretch Into Fifth Month
    World
    Meredith Videos

    Hong Kong Protesters Shift Tactics as Demonstrations Stretch Into Fifth Month

    Tearing a page out of ancient Chinese military philosophy, black-clad protesters in Hong Kong changed tactics and wreaked havoc by popping up in small groups in multiple locations across the city Sunday, pursued by but also often eluding police who m

  • World
    Reuters

    GLOBAL MARKETS-Stocks edge higher on Brexit hopes, trade optimism fades

    Global stocks edged higher on Tuesday yet safe havens were still in play as markets tried to balance fading optimism over the latest China-U.S. trade truce with the likelihood of a Brexit deal by Thursday's European Union summit. MSCI's gauge of stocks across the globe gained 0.2% with European stocks climbing briefly to a two-week high after comments from the European Union's chief Brexit negotiator that a deal with Britain over the terms of their divorce was still possible this week. The pan-European STOXX 600 added 0.2% with France's CAC and Germany's export-oriented DAX both rising while Britain's FTSE was a touch lower as sterling rose against the dollar and the euro, reflecting the cautious optimism about talks between Britain and the EU.

  • 3 EU nations say Brexit talks likely to go beyond summit
    World
    Associated Press

    3 EU nations say Brexit talks likely to go beyond summit

    Brexit divorce talks in Brussels are making such slow progress that three European Union nations predicted Monday the negotiations could spill beyond this week's crucial Brexit summit. Belying the need for speed across the Channel, Britain trotted out a horse-drawn carriage and a diamond-encrusted crown so the queen could read out the government's post-Brexit plans to Parliament. In terms of historical importance, the painstaking paragraph-by-paragraph talks at the EU's glass-and-steel Berlaymont headquarters seriously outweighed the regal ritual in which an ermine-draped monarch delivered a speech on the priorities of a Conservative Party government that could be out of office within weeks.

  • OPEC, allies to maintain oil market stability beyond 2020: Barkindo
    Business
    Reuters

    OPEC, allies to maintain oil market stability beyond 2020: Barkindo

    The Organization of the Petroleum Exporting Countries and its allies are committed to maintaining oil market stability beyond 2020, with physical supplies relatively tight globally, OPEC Secretary-General Mohammad Barkindo said on Tuesday. OPEC, Russia and other oil producer allies, a grouping known as OPEC+, have pledged to cut production by 1.2 million barrels per day (bpd) until March 2020 to support oil prices. "I have been hearing a resounding chorus from all the players that they are determined not to allow a relapse to the downturn that we just navigated out of," Barkindo told the India Energy Forum by CERAWeek, referring to a period of low oil prices in 2014-2015 that had led OPEC to cut output.

  • Charles Schwab senior exec speaks candidly about being among the latest layoffs
    Business
    American City Business Journals

    Charles Schwab senior exec speaks candidly about being among the latest layoffs

    The Financial Women of San Francisco in June named Terri Kallsen as its 2019 Financial Woman of the Year, recognizing her work and mentoring of other women as executive vice president of investor services at Charles Schwab. In accepting the recognition Oct. 11 at the Financial Women's annual lunch to raise scholarship funds, Kallsen tackled her employment status head on. Schwab said Kallsen's position was eliminated as part of recent expense reductions that included cutting 600 jobs, or 3 percent of its workforce, as the brokerage adjusts to cost pressures, including lower interest rates.

  • Volkswagen Delays Turkey Plans Over Offensive: Syria Update
    Politics
    Bloomberg

    Volkswagen Delays Turkey Plans Over Offensive: Syria Update

    Volkswagen AG has decided to delay a final decision on a 1.3 billion-euro ($1.4 billion) car plant investment in Turkey, the first sign of the economic fallout from Ankara's military operation in Syria. On Monday, The Trump administration called on Turkey for “an immediate cease-fire” in Syria and announced sanctions on members of the cabinet, but the punitive action appeared to be lot milder than what was demanded by U.S. lawmakers. Turkish military has said its forces captured Ras al-Ayn and Tal Abyad, two strategic towns on the east and the west ends of the buffer zone it's trying to create in the early stages of its operation.

  • Dow Jones Futures: Snoozing Stock Market To Get Big Jolt As 4 Dow Giants Report Early Tuesday
    Business
    Investor's Business Daily

    Dow Jones Futures: Snoozing Stock Market To Get Big Jolt As 4 Dow Giants Report Early Tuesday

    Dow Jones futures rose modestly Tuesday, along with S&P 500 futures and Nasdaq futures, after a quiet Monday session for the stock market rally. Investors continued to mull the China trade truce, which President Donald Trump on Friday touted as a "phase one" China trade deal. Tesla stock cleared a key technical level.

  • Such Is Life: How Fluor (NYSE:FLR) Shareholders Saw Their Shares Drop 70%
    Business
    Simply Wall St.

    Such Is Life: How Fluor (NYSE:FLR) Shareholders Saw Their Shares Drop 70%

    Zooming in on an example, the Fluor Corporation (NYSE:FLR) share price dropped 70% in the last half decade. The falls have accelerated recently, with the share price down 43% in the last three months. In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business.

  • The Upside to Facebook’s Libra Disaster
    Business
    Bloomberg

    The Upside to Facebook’s Libra Disaster

    If Facebook really wants to bring financial services to the “unbanked,” it should try doing it on a smaller scale than these companies' presence promised. It's clear why PayPal Holdings Inc., Stripe Inc., eBay Inc., MasterCard Inc. and Visa Inc. have decided not to join the Libra Association, which Facebook has been organizing to run the proposed digital currency.

  • Why Trump's new trade truce with China is being hated on by Wall Street
    Business
    Yahoo Finance

    Why Trump's new trade truce with China is being hated on by Wall Street

    The president quickly hyped a potential win in China buying $40 billion to $50 billion in agricultural products from struggling U.S. farmers. “It's not a game-changer,” UBS head of equities derivatives research Stuart Kaiser tells Yahoo Finance of the preliminary trade agreement, which isn't yet signed. Kaiser thinks if anything the trade truce sets a near-term floor in the stock market — but he nonetheless expects the S&P 500 to end 2019 at 2,550.

  • Exclusive: No choice but to invest in oil, Shell CEO says
    Business
    Reuters

    Exclusive: No choice but to invest in oil, Shell CEO says

    Royal Dutch Shell still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change, its chief executive said.     But in an interview with Reuters, Ben van Beurden expressed concern that some shareholders could abandon the world's second-largest listed energy company due partly to what he called the "demonisation" of oil and gas and "unjustified" worries that its business model was unsustainable. Shell, which supplies around 3% of the world's energy, set out in 2017 a plan to halve the intensity of its greenhouse emissions by the middle of the century, based in large part on building one of the world's biggest power businesses.

  • What to watch ahead of Netflix earnings this week
    Business
    Yahoo Finance Video

    What to watch ahead of Netflix earnings this week

    Netflix is gearing up to report quarterly earnings this week, as the streaming company is facing more competition in the space from Disney and Apple. R "Ray" Wang, founder and principal analyst at Constellation Research, joins Akiko Fujita on The Ticker to discuss.

  • Citigroup plans to set up wholly-owned securities business in China: sources
    Business
    Reuters

    Citigroup plans to set up wholly-owned securities business in China: sources

    Citigroup Inc plans to set up a wholly-owned securities business in China, people with knowledge of the matter said on Tuesday, taking advantage of Beijing's move to fully open up some of its financial sectors to foreigners next year. Citi is currently in the process of completing its exit from a minority-owned securities joint venture in China, a process that one of the sources said is expected to be completed by end of this year. Citi's plans to set up a wholly-owned securities business in China are in the early stages, said the sources, who declined to be identified due to the sensitivity of the matter.

  • CRWD Tanks 9.5% after Citi Initiates Coverage with ‘Sell’
    Business
    Market Realist

    CRWD Tanks 9.5% after Citi Initiates Coverage with ‘Sell’

    Shares of high-growth cybersecurity company CrowdStrike (CRWD) have fallen over 9.5% today to close trading at $54.52. According to MarketWatch, Citi (C) analyst Walter Pritchard initiated coverage on CRWD with a “sell” rating and a target price of $43. Pritchard noted, “While CrowdStrike's recent growth has generated a lot of excitement, we see its market opportunity largely pegged to the end-point security market, where peak leadership share has been in the neighborhood of ~10%.” He continued, "We see expansion into adjacencies (like EP management and cloud workload) as challenging as they are crowded already." MarketWatch reported that Pritchard also initiated “buy” ratings on Ping Identity (PING) and Okta (OKTA).

  • Business
    Barrons.com

    Earnings Season Is Starting. Here Are 12 Stocks That Should Come Out Ahead.

    Earnings season is starting, and it isn't supposed to be a good one. BTIG strategist Julian Emanuel notes that S&P 500 companies are expected to report a drop in their earnings-per-share of a about 4%. There will be winners and losers, and Emanuel expects the winners to outperform.

  • Analysts: This Next $1 Trillion Stock Will Be Bigger Than Apple
    Business
    Investor's Business Daily

    Analysts: This Next $1 Trillion Stock Will Be Bigger Than Apple

    Two S&P 500 companies already blew past the $1 trillion market value mark. But investors should expect a third soon, based on analysts' estimates. And it'll be a whopper.

  • Cannabis Roundup: HEXO, WEED, ACB, and CTST
    Business
    Market Realist

    Cannabis Roundup: HEXO, WEED, ACB, and CTST

    Cannabis stocks' performances The sector ETF, the ETFMG Alternative Harvest ETF (MJ), was down 0.4% as of 2:00 PM ET. Most cannabis stocks were also trading in the red. Earlier, on October 11, Eight Capital downgraded the stock from “buy” to “neutral.” Seaport Global's downgrade appears to have led the company's stock price to fall.

  • Hedge Funds Are Selling Halliburton Company (HAL)
    Business
    Insider Monkey

    Hedge Funds Are Selling Halliburton Company (HAL)

    Our calculations also showed that HAL isn't among the 30 most popular stocks among hedge funds. To most traders, hedge funds are viewed as unimportant, old financial vehicles of yesteryear. While there are greater than 8000 funds trading today, Our researchers look at the moguls of this club, about 750 funds.

  • Cannabis Scandal Radar: Is Tilray Next?
    Business
    Market Realist

    Cannabis Scandal Radar: Is Tilray Next?

    Scandals have engulfed the sector many times, especially for CannTrust (CTST), Curaleaf (CURLF), and Hexo (HEXO). Could Tilray (TLRY) be next on the cannabis scandal radar? Another cannabis scandal? According to a press release last week, Andrews & Springer, a boutique securities class action law firm, is investigating Tilray for potential securities violations and a breach of fiduciary duty claims.