Enterprise software giant Oracle Corporation (
) on Tuesday announced it has hired former Hewlett Packard (
) CEO Mark Hurd as a co-president.
Hurd, who was fired from HP last month amid a sexual harassment
scandal, was also named to Oracle's board of directors. The company
also announced that Charles Phillips, a co-president and a board
member, has resigned from Oracle.
Oracle CEO Larry Ellison said in a statement that "Mark did a
brilliant job at HP and I expect he'll do even better at
Oracle shares rose $1.72, or +7.5%, in premarket trading
The Bottom Line
We had removed shares of ORCL from our recommended list back on May
4, when the stock was trading at $26.01. Shares of ORCL have a .87%
dividend yield, based on Friday's closing stock price of $22.92.
The stock has technical support in the $21 price area. If the
shares can firm up, we see overhead resistance around the $25-$26
price levels. We would remain on the sidelines for now.
Oracle Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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