ORCL - Oracle Corporation
| Previous Close | 55.06 |
| Open | 54.95 |
| Bid | 54.50 x 3000 |
| Ask | 54.98 x 2200 |
| Day's Range | 54.18 - 55.26 |
| 52 Week Range | 42.40 - 60.50 |
| Volume | 11,292,885 |
| Avg. Volume | 12,614,955 |
| Market Cap | 179.061B |
| Beta (3Y Monthly) | 1.19 |
| PE Ratio (TTM) | 17.86 |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.96 (1.72%) |
| Ex-Dividend Date | 2019-07-16 |
| 1y Target Est | N/A |
- Barrons.com
A Giant Fund Sold Disney, Celgene Stock, Bought Morgan Stanley and Oracle
Dutch pension manager PGGM disclosed third-quarter stock trades. It nearly halved its investment in Disney and exited its position in Celgene completely.
- American City Business Journals
Mark Hurd, with 'loquacious' style, brought Oracle into cloud era through sales revamp
Mark Hurd, remembered as “not a shrinking violet” with a fiercely competitive streak, led the reboot of Oracle's sales organization and changed the way the business operated.
- Bloomberg
Mark Hurd, Oracle CEO Who Led Three Tech Companies, Dies
(Bloomberg) -- Mark Hurd, who was chief executive officer of three major technology companies including Oracle Corp., has died. He was 62.Most recently Hurd was co-CEO at Oracle with Safra Catz where he focused on sales, marketing and press and investor relations, while she ran finances and legal matters. Oracle announced on Sept. 11 that Hurd had begun a leave of absence for unspecified health-related reasons and that Catz and Oracle Chairman Larry Ellison would assume his responsibilities during his leave. The company didn’t disclose a cause of death Friday.“It is with a profound sense of sadness and loss that I tell everyone here at Oracle that Mark Hurd passed away early this morning,” Ellison wrote in an online post. “Mark was my close and irreplaceable friend, and trusted colleague. Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle.”Hurd began his career in 1980 as a salesman for National Cash Register Corp. (now NCR), before rising in the ranks to the CEO post. In 2005, he was hired away as CEO by Hewlett-Packard Co., then the world’s biggest personal-computer maker. Hurd joined Oracle as a co-president in 2010, after resigning from HP following a sexual-harassment probe. While an internal investigation didn’t find a violation of the company’s sexual-harassment policy, it concluded that he violated company standards by filing inaccurate expense reports to conceal a personal relationship with a contractor.During his Oracle tenure, Hurd produced solid revenue and profits as the Redwood City, California-based company’s stock price hit a historic high in 2019. He was also a key driver in Oracle’s turn from an old model of licensing software toward the use of cloud computing, a burgeoning business dominated by rivals Amazon.com Inc. and Microsoft Corp.When he hired Hurd, Ellison said, “There is no executive in the IT world with more relevant experience than Mark.” Ellison described Hurd’s dismissal by HP as the “worst personnel decision since the idiots on the Apple board fired Steve Jobs.”Transformed SalesforceHurd reshaped Oracle’s salesforce. Beginning in 2013, he implemented a “specialist” model that made each member an expert in a single product category. In that year alone, he hired more than 4,000 people to implement his idea.He also created the “Class of” program that was designed to inject a startup feel into Oracle. College graduates were hired for a dedicated program that prepared them to become Oracle’s future sales leaders.In 2014, Hurd and Catz were named co-CEOs, while Ellison continued to serve as chairman of the board, orchestrate management changes and develop products as chief technology officer.Hurd was regarded as the most media-friendly of the trio, frequently serving as the public face of the company to outline its goals. At the time Hurd and Catz were named CEOs, Oracle’s central business was selling software designed to run on gear owned by the customer and charging a license fee. Hurd was among those inside Oracle who saw the company’s future in cloud computing -- which would let customers rent software and run their data on servers owned by vendors such as Oracle. He predicted in 2015 that by 2025 all enterprise data would be stored in the cloud and that 100% of software development and testing would run through it.Today, the company is much less ambitious in its cloud efforts, and has been making smaller promises. In June, Oracle said it would partner with Microsoft, a decades-long rival, to connect the two companies’ cloud services, so customers can use Oracle databases or applications tied to Microsoft’s Azure cloud. While Catz said Microsoft, the world’s largest software maker, wanted an alliance to give clients access to Oracle’s AI-driven databases, the move was a concession—signaling Oracle knew it could no longer go at it alone.It’s now Catz who will have to go it alone, at least for now. Some analysts expect the company will move to appoint a new partner soon. “It’s much more manageable to have two CEOs, so we would be surprised if Oracle goes back to one CEO going forward,” said John Barrett, an analyst at Morningstar Investment Service. “The larger question is how Oracle will go about searching for the co-CEO role and how quickly they can find a successor.”The succession will likely come from within the company’s deep bench. One option is Jeff Henley, Oracle’s vice chairman and former chief financial officer, according to Abby Adlerman, CEO of Boardspan, which provides software and services to address board governance. “I think from a succession planning perspective, they are in a much better place than most companies. They have a lot of options.” Ellison will likely stay close and in the long term, “it’s a matter of if Safra wants to go at it alone. It’s such a big company that there was a reason for the co-CEO role.”Ellison has mentioned Don Johnson, head of Oracle’s cloud infrastructure division, and Steve Miranda, head of Oracle’s applications unit, as possible partners to Catz in the future.Growth StrategyHurd led the charge to make Oracle one of the dominant cloud players, investing heavily in research and development and acquisitions, such as the $9.3 billion purchase of NetSuite Inc., sometimes called the first cloud company, in 2016. Oracle also bought Eloqua Inc., a marketing software company, and Taleo Corp., which makes talent-management.He secured significant deals with AT&T Inc., Bank of America Corp., and Qantas Airlines to transfer their existing databases to the cloud through Oracle. By late 2019, Oracle served more than 420,000 customers in 195 countries and territories, he said.Hurd had gone on a similar acquisition binge at HP, managing about $24 billion in deals, including buying Electronic Data Systems (EDS), as part of a larger plan to diversify the computer maker.He was also a drastic cost cutter who was responsible for firing thousands of workers when he first took over as HP’s CEO and laying off thousands more after the $13.9 billion purchase in 2008 of a struggling EDS, a move many investors disliked.Still, under Hurd’s tenure, HP increased profits for 22 straight quarters, while its revenue rose about 60% and its stock price doubled, according to data compiled by Bloomberg. He also helped HP surpass International Business Machines Corp. as the largest computer maker by sales.There were some dark moments at HP too. In 2006, it was disclosed that Hurd had helped launch an investigation into internal leaks from the company’s board. Outside security consultants conducted surveillance on a journalist and HP board member, and used a subterfuge to acquire phone and fax records for HP employees, board members and journalists. The California attorney general’s office opened a criminal probe into possible privacy violations, and HP’s chairwoman at the time, Patricia Dunn, resigned her post when the scandal broke.For his part, Hurd defended the need to investigate company leakers, but claimed he didn’t know about the investigators’ tawdry tactics because he’d ducked out of a briefing on the investigation and, several months later, ignored a verbal and written summary of the leak probe.After Hurd was ousted following the sexual harassment probe in 2010, HP discontinued making smartphones and its tablet computer. Eventually it split into two companies, one focused on personal computers and printers and the other on software and services.Top CEODespite navigating several scandals, Hurd was lauded by the industry. In 2007, he was named one of Fortune magazine’s 25 most powerful business leaders. In 2008, the San Francisco Chronicle named Hurd CEO of the Year.“Saddened by the loss of Mark Hurd,” wrote Bill McDermott, who stepped down as CEO of SAP SE this month, on Twitter. “He was a self-made success in the industry & presided over mega accomplishments. While we competed vigorously in the market, we enjoyed professional respect. My heartfelt prayers are with Mark’s family on this solemn day.”Mark Vincent Hurd was born on Jan. 1, 1957, in New York and lived on the affluent Upper East Side of Manhattan. His Yale-educated father was a financier who moved the family to Miami while Hurd was in high school. His mother was a debutante.Hurd received a tennis scholarship to Baylor University in Waco, Texas, where he earned a bachelor’s degree in business administration in 1979.He was hired in 1980 as a junior sales person by National Cash Register in San Antonio. He eventually became president, chief operating officer and CEO of the maker of automatic teller machines and cash registers.Based on his NCR record, HP hired him in 2005 as its CEO and added the chairman title the following year.“Mark just blew everybody else out of the water,” said Tom Perkins, a former HP executive who interviewed Hurd for the CEO job.Hurd served on a number of corporate boards and was a Baylor University trustee since 2014.He was married to the former Paula Kalupa in 1990. They had two daughters, Kathryn and Kelly.(Updates with comments from analyst in 12th paragraph)\--With assistance from Nico Grant, Peter Waldman and Candy Cheng.To contact the reporter on this story: Patrick Oster in New York at poster@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- American City Business Journals
Remembering the time Oracle's Mark Hurd delighted a roomful of Boston execs
The Oracle executive, who died Friday at the age of 62, gave a memorable performance when he spoke to business leaders at the Boston College Chief Executives Club in 2015.
- Benzinga
Oracle Co-CEO Mark Hurd Dies At 62
Mark Hurd, co-CEO of O racle Corporation (NYSE: ORCL ) and former head of HP Inc (NYSE: HPQ ), died Friday after a month-long leave of absence for health reasons. “Oracle has lost a brilliant and beloved ...
- Bloomberg
Mark Hurd: Silicon Valley’s Ultimate Salesman
(Bloomberg) -- Mark Hurd was in his element at Indian Wells.The tennis tournament–more formally known as the BNP Paribas Open at Indian Wells, California— provided him with the perfect backdrop to flex his passions: tennis and selling stuff. Hurd turned the event, which Oracle Corp. co-founder Larry Ellison bought in 2009, into a two-week database and software sales extravaganza. He could be seen strolling the grounds or at nearby hotels constantly schmoozing with customers and using his connections with tennis legends like Chris Evert and Rafael Nadal to win people over and help close a deal. Along the way, Hurd, Oracle’s co-CEO, would sneak in a hit–he had a big serve and liked to flaunt it–or check on the American college players he was mentoring and the young pros he was quietly helping with financial aid. For Hurd, business and pleasure were one and the same and almost always intermixed in his life.This is what I’ll remember most about Hurd, who passed away Friday morning after a protracted illness: he was a relentless hustler and loved the art of doing business more than just about any other executive I’ve ever run across. In a statement issued after Hurd’s death, Ellison pointed to his friend’s business acumen. “Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle,” Ellison said. “All of us will miss Mark’s keen mind and rare ability to analyze, simplify and solve problems quickly.” Hurd arrived at Oracle in 2010 under tumultuous conditions. He’d resigned as CEO of Hewlett-Packard after being investigated by the company’s board for a relationship Hurd had with a marketing contractor. The board argued that Hurd had tried to cover up the relationship and misused his expense account, and Hurd argued that they were wrong and making much ado about nothing. The squabble was acrimonious enough to end Hurd’s time at HP, even though he had revived the company’s fortunes and turned it into a lean, mean maker of corporate technology products, printers and personal computers.At Oracle, Hurd applied his trademark skills at analyzing balance sheets and streamlining operations to try and improve the software maker’s bottom line. He could recite from memory the financial minutiae of every division and be blunt about what was working and what needed to be fixed. During his years at Oracle, the company’s share price more than doubled, and Hurd was a constant presence at the company’s events, sales meetings and customer sites. In many ways, he became the public face of Oracle, enjoying the limelight while Ellison made the occasional appearance and co-CEO Safra Catz preferred to operate in the background.Though Oracle remains the dominant database company, it still has much work to do to catch up in the booming market for cloud-based software and services. Oracle was late to the game modernizing its products. Hurd tried his best to paper over Oracle’s weaknesses through salesmanship and often succeeded. One of the biggest weaknesses throughout his career, though, was favoring bottom line performance over investing in research and development and revolutionary new products. Hurd often seemed to focus on the here and now, rather than plotting for what lay ahead. Oracle’s dual-CEO structure was unusual and not always to Hurd’s liking, as he reveled in controlling a business and overseeing all of its operations. He took on sales, marketing and press and investor relations, and Catz handled finances and legal. Last month Oracle said that Hurd was taking a leave of absence for an unspecified illness and that Ellison and Catz would assume his responsibilities. Ellison has said that Catz will stay in place and that he would like to keep the two-CEO structure. He cited Don Johnson, head of Oracle’s cloud infrastructure division, and Steve Miranda, head of Oracle’s applications unit, as possible partners to Catz in the future.What’s clear is that Hurd will not be easy to replace. On a personal note, he shared a tight bond with Ellison around tennis. The two men have been pumping money into American tournaments and players for years, hoping to spark a revival of U.S. male pros. And, when Hurd was at his lowest moment after the HP fiasco, it was Ellison who came to the rescue, championing Hurd in the press and offering him a high-profile gig at Oracle. These actions–along with massive annual pay packages-made Hurd very loyal to Ellison and left Hurd as eager as ever to prove Ellison right and his critics wrong.Not short on ego, Hurd saw business as a battlefield and perceived himself as a master general. On his worst days, he was short of temper and combative. But, on his best days–of which there seemed to be many–he was a numbers and strategy savant with a rare ability to inspire those under him to work incredibly hard. Hurd himself was a workaholic and considered Oracle’s performance as a reflection on his character. Very few people are as committed to their work or as passionate in their pursuit of it.Vance covered Hurd for 15 years in his roles as CEO of NCR, HP and Oracle and even played tennis with him once. To contact the author of this story: Ashlee Vance in Palo Alto at avance3@bloomberg.netTo contact the editor responsible for this story: Molly Schuetz at mschuetz9@bloomberg.net, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Barrons.com
Oracle Co-CEO Mark Hurd Dies at 62
Hurd joined Oracle in 2010, not long after he resigned as CEO of Hewlett Packard. He served as co-CEO since 2014.
- Reuters
Oracle co-CEO Mark Hurd dies at 62
Last month, Hurd went on a medical leave for unspecified health reasons, while Catz and founder Larry Ellison took over his responsibilities during the absence. "Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle," Ellison wrote in an email to company employees. Hurd and Catz were named co-CEOs in 2014, after Ellison decided to step aside to focus on his role as chief technology officer.
- MarketWatch
Oracle co-CEO Mark Hurd has died
Oracle Corp. confirmed on Friday that its former co-chief executive Mark Hurd has died at age 62. Hurd had taken a medical leave in September, leaving Chief Executive Safra Catz alone at the helm of the software giant. Hurd had a long career in tech and left HP's chief-executive role in 2010 due to sexual-harassment claims. He joined Oracle that year and had recently been leading the company's corporate direction and strategy. Oracle's stock is off 0.8% in Friday trading. Shares have fallen 6% over the past three months, as the S&P 500 has lost 0.3%.
- American City Business Journals
Oracle co-CEO Mark Hurd dies at 62, remembered as fierce competitor and 'self-made success'
Oracle Corp. co-CEO Mark Hurd died early this morning, weeks after taking a medical leave, the company confirmed to the Silicon Valley Business Journal. He was 62.
- TheStreet.com
Oracle Co-CEO Mark Hurd Has Died at 62
Oracle co-CEO Mark Hurd has passed away about a month after the business software giant announced that he would be taking a medical leave. Hurd, who was 62, joined Oracle in 2010 after leaving Hewlett-Packard where he was named one of Fortune Magazine's 25 most powerful people in business in 2007. A month after he left HP following allegations of sexual misconduct, then-Oracle CEO Larry Ellison named him the president of his company.
- Financial Times
Facebook fights for hearts and minds
It’s hardly an exaggeration to say that Mark Zuckerberg is locked in a battle for the future of his company. Under attack on multiple fronts, Facebook has taken its case to the court of public opinion — as well as before politicians and regulators. to the FT’s Madhumita Murgia how Facebook has been working on preventing child exploitation once it moves to full encryption of messages. This is an attempt to counter the latest challenge from US politicians, who have used child safety as a cudgel to bash the company’s encryption plans.
- Financial Times
Silicon Valley veteran Mark Hurd dies at 62
“All of us will miss Mark’s keen mind and rare ability to analyse, simplify and solve problems quickly,” Mr Ellison wrote. “While we competed vigorously in the market, we enjoyed professional respect.
- Benzinga
Hydrogen Partners With TD, Oracle To Develop Simplified Digital Financial Solutions
Benzinga is highlighting nominees for the fifth annual Benzinga Global Fintech Awards ahead of the event Nov. 19 in New York City. Launched in 2017, the New York-based fintech is spearheading development of a Web 3.0 global financial platform designed to allow developers the ability to build and deploy financial applications in less time. Last month, Hydrogen’s platform achieved "powered by Oracle Cloud’ status and became available in the Oracle Corporation (NYSE: ORCL) Cloud Marketplace.
- Barrons.com
Amazon Just Proved That ‘Oracle Can Be Displaced.’ One Analyst Explains.
Oracle’s cloud business may be more vulnerable to customers switching to competing systems than some previously thought, Macquarie warns.
- Zacks
Tech Stocks for Dividend Investors to Buy as Q3 Earnings Season Heats Up
We used our Zacks Stock Screener to search for companies within the broader technology sector that also pay a dividend that investors might want to buy as Q3 earnings season heats up...
- MarketWatch
Ex-Cisco CEO John Chambers, star team of engineers have a startup targeting Amazon’s AWS
Pensando Systems, the ultra-secretive Silicon Valley company, announced Wednesday in New York it is has developed hardware and software that lets companies run their computer servers more efficiently, particularly in the cloud.
- Zacks
The Zacks Analyst Blog Highlights: Intel, Oracle, Novo Nordisk, ConocoPhillips and Advanced Micro Devices
The Zacks Analyst Blog Highlights: Intel, Oracle, Novo Nordisk, ConocoPhillips and Advanced Micro Devices
- American City Business Journals
Cisco veterans, backed by $278M, aim to disrupt Amazon's cloud dominance
The team that sold billions of dollars worth of key businesses to Cisco Systems over the past 25 years are ready to talk about their latest startup. It's a San Jose business they say will "democratize the cloud."
- Zacks
Top Analyst Reports for Intel, Oracle & Novo Nordisk
Top Analyst Reports for Intel, Oracle & Novo Nordisk
- American City Business Journals
Report: Larry Ellison has 5 possible candidates in mind as Oracle's next co-CEO
Oracle executive chairman Larry Ellison told analysts last month that he would recommend five possible internal candidates for CEO to the company’s board and named Steve Miranda, executive vice president of Oracle Applications product development, and Don Johnson, vice president of Oracle Cloud Infrastructure product development, as two possibilities.
- Benzinga
Migrating From On-Premise OTM To The Cloud For A More Positive Bottom Line
"In its essence, cloud migration is really about moving from a client-managed Oracle OTM infrastructure and support to an Oracle-managed OTM infrastructure and support," said Mark Kissell, the vice president of logistics solutions at Eminent Global Logistics, a subsidiary of Redwood Logistics. Kissel pointed out that one of the primary reasons for companies to migrate stemmed from their eagerness to reduce their IT infrastructure and support costs.
- Bloomberg
Reflecting on Oracle CEO Mark Hurd's Legacy
Oct.18 -- Mark Hurd, who was chief executive officer of three major technology companies including Oracle Corp., has died. He was 62. Bloomberg's Brad Stone reflects on Hurd's legacy. He speaks with Bloomberg's Taylor Riggs on "Bloomberg Technology."
