Oracle stock jumps as investors take a new look at its cloud story

SourceCNBC
SectorFinancial Markets
CountryMiddle east

Safra Catz, co-chief executive officer of Oracle Corp., speaks during the SelectUSA Investment Summit in Oxon Hill, Maryland, U.S., on Monday, June 19, 2017. The SelectUSA Investment Summit brings together companies from all over the world, economic development organizations from every corner of the nation and other parties working to facilitate foreign direct investment (FDI) in the United States. The week got off to an uneventful start on Monday, with major tech stocks taking a breather. But Oracle shares had their best day in almost a year, rising 5% following the publication late Friday of a Barron's cover story about the cloud prospects of 43-year-old software and hardware maker. The thesis is that Oracle could be the next longstanding technology company to transform like Adobe, Autodesk and Microsoft, which changed up their business models to embrace cloud-based services over traditional licensed software, and saw their stocks rise as a result. The article suggests that Oracle could pick up gains in cloud computing,...read more...