Oracle $ORCL is getting hit hard today after earnings. It's down 7%! That's almost $15 billion in market cap gone. In just a few hours.
stocktwits.com/symbol/ORCL
Update your resumes boys and girls. Be smart and get out before they show you the door. It’s a healthy job market out there and tons of competition for the jobs that exist.
ORCL's problem is weak cloud growth, not profits or expenses. Laying people off will do nothing to boost the stock price.
The worst part of it would probably be the publicity.
They don't go to jail, they get fined and I expect it's no big deal if you've got billions of dollars to spare.
Yeah, SC will be out all right, she’s going to be in jail for cloud fraud
I was wondering also if the change could have been caused by a need to come clean with the cloud numbers. Someone said they are getting notices about not deleting info on their machine because of an investigation. Could be they have been caught and don't want to add to the problem.
Obfuscate the numbers for a few quarters, then maybe they can start over again. If that's the case, then probably SC will get the blame and be out.
Right on the 3 stooges are changing reporting in a bid to stay out of jail. The problem is they committed securities fraud for at least 8 quarters and there is nothing they can do to undo that. Go straight to federal prison!
@TLk1rOI-1xak, you are very spot on.
But imagine that, what is behind the decision to change the reporting has not been the drop Oracle would have had with the real numbers, but other considerations about how numbers were built, potential liabilities....
I think the game is no longer faking we have a Cloud business, but try to escape from there without having people going to jail or the stock going to 5$.
ORCL is now 42.82 ... minus 8% from the previous close, and forecast is down.
LE SC and MH must have considered the impact of hiding the real cloud numbers versus showing them, and must have taken the minor loss decision.
so considering that now stock is down more than 8%, question is: real numbers are really so bad (no growth at all??) that a -10% on the stock is acceptable versus the loss that could have been with the disclosure of the numbers? must be this, and no genius needed to understand that disclosing the numbers would have caused a dramatic loss, maybe in the -20% territory.
unfortunately for all us employees, this will mean more layoffs. it's unfortunately the only thing that that MH genius is able to do.
Oracle does not stand a chance against Amazon and Microsoft. They will never claim lost market. Thomas Kurian (and his staff) are responsible for creating a product which simply does not work. No customer is keen in buying Oracle applications and middle ware.
After all what is the problem with Oracle? It's management or culture or both? Obviously, it’s both. In order to run a successful organization decentralization is must. How about empowering people to solve problems and its lowest level. Satya of Microsoft did this well but Thomas failed? Thomas has gone to all the top schools in the world, Satya did not. The question is what is needed to make a company successful? Does too much smartness screw your head that feel compelled to make all the decisions. You really need a leader who trusts his people and stay away from day to day activities.
Three cents is up bigly? You are kidding, aren't you DJT?
ORCL is already up in after hours trading, bigly
After hours 42.85 +0.030 (0.070%)
so investors are catching up to how good fourth quarter results are. All serious investors will be buying the dip tomorrow.
Yep, this goose is cooked, you can fools some people some of the time, unfortunately oracle’s failure is all over the news now and nobody is fooled anymore. Over and out!
Fake news. 7.5% loss was caused by speculators and profiteers. ORCL will be up 15% tomorrow once market realizes how great the numbers are.
LOL.... you mean the numbers they shared.... what about the numbers they hid? Nobody's that dumb.
The previous poster is correct. There will be future layoffs, but they will not be directly related to the market cap loss today. Unfortunately the current management team isn't capable of fixing the problem as they are ones who created it. Any real fixes would require massive changes that might be too disruptive to business in the short term. Instead expect more same. Continued rolling layoffs that won't happen quickly enough to offset the falling revenue and earnings growth rates.
There will be layoffs for sure. Will do nothing to the share price - it’s a revenue and competitiveness problem and the market now understand is. No growth - shares crash. LE’s nightmare is coming true.
From CNBC
"except that it has been a big lagger as a stock, both in software and the cloud space"
"this is the poor stepchild"
"they are falling behind"
"they are having their lunch eaten by competitors"
Great numbers - you deranged lunatic - they hid the numbers because they’re horrible. Rule number one: you report good numbers, you change how you report when the numbers s---. Oracle’s cloud s---s and the overall growth is zero. And that’s before you subtract cloud fraud. So in reality revenue is way down. Stock going to zero and rightly so.
This is the beginning of the end
Fake news. 7.5% loss was caused by speculators and profiteers. ORCL will be up 15% tomorrow once market realizes how great the numbers are.