Its database, applications programs and other services have made it a gorilla in its field, and a competitor to Microsoft, thanks also to the abrasive rivalry between CEO Larry Ellison and Bill Gates. But like all other companies in the various sectors, not even an oracle, like Oracle, foresaw the crunch in the US economy since late last year.
Sales have slowed, earnings are off and the share price is sharply lower.
For chief financial officer, Jeff Henley, it means more pressure. He spoke to Helen McCombie during a trip to Australia this week. I don't believe so. Based on history it takes a while for rates cuts to have an effect. Walmart, some of the retailers are reporting disturbingly worse numbers right now.