Oracle Corp - ORCL STOCK NEWS

On September 15, 2020, the District Court for the District of Nevada ruled in favor of Oracle in the case against Rimini Street, granting Oracle's motions for partial summary judgment. The court found that Rimini Street's support practices infringed on at least 17 of Oracle's copyrights. As a result, Rimini Street will be unable to claim damages, while Oracle is set to pursue substantial damages at trial.

Dorian Daley, Oracle's General Counsel, emphasized the significance of the ruling and the intent to seek further damages for Rimini Street's unlawful conduct.

Oracle has announced the general availability of Java 15, continuing its six-month release cadence initiated with Java 10 in 2018. With 69% of developers using Java, this version introduces features like the Edwards-Curve Digital Signature Algorithm (JEP 339) and Hidden Classes (JEP 371). Additionally, features like Text Blocks (JEP 378) and ZGC (JEP 377) are now finalized. The release emphasizes increased developer productivity and is a result of extensive collaboration within the OpenJDK Community. Java remains vital for enterprise application development, with 51 billion active JVMs globally.

Oracle announced that Xactly will use Oracle Cloud Infrastructure as its primary cloud provider to enhance its flagship Incent SaaS application and support global expansion. This multi-year agreement involves migrating critical workloads to Oracle, aiming for improved elasticity and cost-performance. Both companies will collaborate on marketing solutions, enhancing customer experience through better performance, lower costs, and rapid geographic expansion. The sales performance management market grew 14% to $1 billion in 2019, offering potential for Oracle as a key player in supporting Xactly’s scalability.

On September 14, 2020, Oracle announced the launch of Oracle Cloud Guard and Oracle Maximum Security Zones, enhancing cloud security management. These services aim to automate security policy enforcement and monitor configurations effectively, reducing risks for customers. Oracle is the first public cloud provider to offer such capabilities free of additional costs. With increasing cloud adoption and security challenges, these tools are designed to help organizations secure sensitive workloads and improve their security posture seamlessly across Oracle's cloud infrastructure.

Oracle has confirmed its role as a trusted technology provider in the proposal submitted by ByteDance to the U.S. Treasury Department, as stated by Secretary Mnuchin. This partnership aligns with Oracle's 40-year history of delivering secure and efficient technology solutions. The company aims to leverage its expertise to ensure data security and compliance within the framework of this significant proposal.

Oracle Corporation (NYSE: ORCL) reported fiscal Q1 2021 results with total revenues of $9.4 billion, up 2% year-over-year. Cloud services and license support revenues also increased 2% to $6.9 billion. Cloud license and on-premise license revenues rose 9% to $886 million. GAAP net income was $2.3 billion, marking a 5% increase, and GAAP EPS jumped 16% to $0.72. The board declared a quarterly cash dividend of $0.24 per share. Oracle's cloud applications, including Fusion ERP and NetSuite ERP, showed significant growth, with increases of 33% and 23% respectively.

Oracle Corporation has announced that its first quarter fiscal year 2021 results will be released on September 10, 2020, after market closure. A conference call and live webcast discussing the financial results will be held at 2:00 p.m. PT. Investors can access the live webcast via the Oracle Investor Relations website. This announcement is crucial for shareholders as it sets the stage for upcoming earnings insights.

Oracle announced that Nissan Motor Co. is migrating its high-performance computing (HPC) workloads to Oracle Cloud Infrastructure. This transition will enhance Nissan's digital product design process, improving fuel efficiency and safety. By leveraging Oracle's optimized HPC services, Nissan expects higher performance and reduced costs in engineering simulations. This shift underscores Nissan's cloud-first strategy, utilizing Oracle's industry-first bare-metal HPC solution to meet increasing simulation demands while maintaining cost savings.