Oracle Names Former HP CEO Mark Hurd as New Co-President (ORCL)

Share |

Enterprise software giant Oracle Corporation ( ORCL ) on Tuesday announced it has hired former Hewlett Packard ( HPQ ) 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."

Oracle shares rose $1.72, or +7.5%, in premarket trading Tuesday.

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 ( ORCL ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by

This article appears in: Investing , Stocks

Referenced Stocks: HPQ , ORCL

More from

Related Videos

What to Wear to a Wedding
What to Wear to a Wedding           
4th of July Outfits
4th of July Outfits                 



Most Active by Volume

  • $17.03 ▼ 1.10%
  • $30.555 ▲ 1.24%
  • $126.44 ▼ 0.13%
  • $40.59 ▼ 6.26%
  • $19.07 ▲ 1.54%
  • $26.78 ▲ 0.45%
  • $5.85 ▲ 1.56%
  • $8.83 ▲ 2.08%
As of 7/2/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by