Oracle Corp - ORCL STOCK NEWS

On April 1, 2021, Oracle responded to Rimini Street's claims following a decisive ruling from the US District Court, stating that Rimini Street is violating a permanent injunction from August 14, 2018. The court ordered Rimini to explain why it shouldn't be held in contempt for its actions related to PeopleSoft support. Oracle criticized Rimini's attempt to frame this legal loss as a victory, asserting that it is a deceptive tactic aimed at its customers. This continuing legal battle underscores significant ethical concerns about Rimini's business practices.

On March 31, 2021, Oracle launched Oracle Cloud Lift Services, a program designed to simplify and accelerate cloud migration for both existing and new customers at no extra cost. The initiative provides customers with access to dedicated cloud engineers and technical resources, aiming to remove barriers to adopting Oracle Cloud Infrastructure (OCI). Notable clients like Seattle Sounders FC and Cargill have successfully benefited from the program, enhancing their cloud capabilities and efficiency. The service streamlines performance analysis and application architecture, thus fostering digital transformation.

Oracle has made REST API specifications for its Hospitality Integration Platform (OHIP) publicly available on GitHub, enabling rapid innovation within the hospitality industry. This initiative, launched during Oracle’s Innovation Week virtual event, aims to streamline operations by providing over 3,000 modern REST API capabilities, enhancing guest experiences, and reducing partner fees. With more than 100 partners already integrating these specifications, the move is positioned as a significant step towards standardizing APIs in hospitality.

Red Bull Racing has selected Oracle as its official cloud infrastructure partner, enhancing data analytics and machine learning capabilities across its operations. This multi-year partnership focuses on optimizing car performance and improving fan engagement through Oracle's advanced technology. Red Bull aims to leverage Oracle's Customer Experience applications to elevate fan interaction during race weekends, ultimately enhancing their competitive edge in Formula 1.

TIM Brasil, one of Brazil's largest telecom providers with over 61 million customers, announced its partnership with Oracle and Microsoft to migrate all on-premises workloads to the cloud. This migration includes 7,000 servers, 35,000 cores, 1,200 databases, and 15 petabytes of storage. It aims to enhance customer support, billing, and management applications. The project also supports TIM's goal of achieving carbon neutrality by 2030 by utilizing renewable energy in its operations.

According to a recent Oracle Food and Beverage survey, 83% of U.S. consumers missed live events during the pandemic, with 32% eager to return to stadiums immediately. However, 56% favor continued social distancing, and many want innovative concession options like in-seat delivery. The survey highlights changing consumer preferences, such as a desire for mobile ordering and personalized experiences beyond the arena. While many consumers are excited to return, 25% plan to stay away in 2021, primarily Baby Boomers. This reflects a shift in expectations for safety and convenience in the post-pandemic environment.

Oracle Corporation has announced the pricing of its sale of $15 billion in investment-grade notes with varying interest rates and maturities from 2026 to 2061. The interest rates range from 1.650% to 4.100%, payable semi-annually starting September 25, 2021. The offering is set to settle on March 24, 2021. Proceeds will be used for general corporate purposes, including debt repayment, dividends, stock repurchases, and potential acquisitions. The offering is backed by a syndicate led by major financial institutions.

Oracle has partnered with Prosper Digital Therapeutics to utilize its Cloud Infrastructure for a machine learning platform aimed at optimizing patient care. ProsperDTX aims to enhance predictive modeling by integrating data from various medical sources, achieving a 25% cost saving. This collaboration is important amid the heightened healthcare demands caused by the COVID-19 pandemic. Oracle's solutions also ensure compliance with HIPAA, facilitating efficient data science workflows. The partnership is set to significantly boost ProsperDTX’s capacity for personalized treatment plans.

Oracle has announced significant enhancements to its Autonomous Data Warehouse, aiming to simplify data management for users at all levels. The upgrades introduce intuitive, no-code tools for data analysis, machine learning, and application development, catering to business analysts and citizen data scientists alike. Organizations report up to a 63% reduction in operational costs and improved productivity, with the potential for faster insights and lower costs. This release solidifies Oracle's position as a leader in self-driving cloud data warehousing.