Oracle's stock falls toward record-long losing streak in wake of Cerner buyout deal

9 months ago 151

Shares of Oracle Corp. ORCL, -0.62% slipped 0.3% successful day trading Friday, putting them connected way to widen their losing streak to 11 sessions. That would beryllium the longest specified streak since Oracle went nationalist successful March 1986, according to Dow Jones Market Data. The database giant's banal has present tumbled 15.3% since it past gained ground, erstwhile it roseate 3.8% connected Dec. 15 to adjacent astatine a grounds $103.65. Highlighting the losing streak was the 11.2% driblet successful 2 days to Dec. 20, aft The Wall Street Journal reported, and Oracle confirmed, that it agreed to bargain medical-records institution Cerner Corp. CERN, -0.15% successful a woody valued astatine $28.3 billion. Despite the record-long losing streak, Oracle's banal has inactive tally up 35.7% this year, portion the SPDR Technology Select Sector ETF XLK, -0.30% has climbed 34.1% and the S&P 500 SPX, -0.05% has precocious 27.3%.

Read Entire Article