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2 dense fog advisories in effect for 4 regions in the area

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WEATHER ALERT

2 dense fog advisories in effect for 4 regions in the area

LARRY ELLISON


Billionaire Larry Ellison got a speeding ticket on an island he owns while driving a Corvette and told the cop there's 'no excuse'

Larry Ellison was pulled over for running through a stop sign and speeding in his orange Corvette on Lana'i, the Hawaiian island of which he owns 98%.

news.yahoo.com

Holmes' former partner gets nearly 13 years in Theranos case

A judge has sentenced former Theranos executive Ramesh “Sunny” Balwani to nearly 13 years in prison for his role in the company’s blood-testing hoax — a punishment slightly longer than that given to the CEO, who was his lover and accomplice in one of Silicon Valley’s biggest scandals.

Elizabeth Holmes faces judgment day for her Theranos crimes

A federal judge on Friday will decide whether disgraced Theranos CEO Elizabeth Holmes should serve a lengthy prison sentence for duping investors and endangering patients while peddling a bogus blood-testing technology.

Elizabeth Holmes gets more than 11 years for Theranos scam

Disgraced Theranos CEO Elizabeth Holmes has been sentenced to more than 11 years in prison for duping investors in the failed startup that promised to revolutionize blood testing but instead made her a symbol of Silicon Valley ambition that veered into deceit.

Why did Elon Musk just spend billions to take over Twitter?

Elon Musk has taken over Twitter and fired its CEO and other top executives.

Timeline of billionaire Elon Musk’s bid to purchase Twitter

Elon Musk is offering to go through with his original proposal to buy Twitter for $44 billion.

To buy Twitter, Musk has to keep banks, investors on board

If the squabbling ever stops over Elon Musk’s renewed bid to buy Twitter, experts say he still faces a huge obstacle to closing the $44 billion deal: Keeping his financing in place.

A timeline of billionaire Elon Musk's bid to control Twitter

Reports say Elon Musk is proposing to go through with his $44 billion takeover of Twitter, a move that would end a legal fight between the billionaire and the social media company.

Elon Musk texts with others about Twitter are strange to read

One billion dollars for Twitter? Two billion? Whatever you think, man.

washingtonpost.com

GOP billionaire donors direct cash to Senate leaders as Trump candidates lag Dems in fundraising

GOP billionaire donors are souring on Senate candidates endorsed by Donald Trump and instead are giving to groups aligned with Republican leadership.

cnbc.com

Musk and Twitter CEO Agrawal were briefly pals, texts show

Newly disclosed text messages between Elon Musk and Twitter CEO Parag Agrawal showed that the two men briefly bonded in April over their love of engineering — at least until Musk tweeted this message early on Aug. 9: ‘Is Twitter dying.

Who might want to buy the Phoenix Suns?

NBA team could draw interest from a range of potential suitors, from tech billionaires to former pro athletes.

cbsnews.com

Activist investor group asks SEC to investigate Tesla over plan to shrink board

SOC Investment Group alleges Tesla's board isn't independent enough and favors Elon Musk's personal interests over shareholders.

cnbc.com

Jury takes fraud case against Elizabeth Holmes's ex-partner

The fate of hard-nosed technology executive Ramesh “Sunny” Balwani is now in the hands of a jury that will weigh criminal charges alleging he joined disgraced Theranos CEO Elizabeth Holmes, his former partner, in an elaborate fraud that jarred Silicon Valley.

Billionaire Larry Ellison, among world's richest people, bought Florida estate for $173 million

A company affiliated with Larry Ellison bought a property near Palm Beach in an off-market deal. The billionaire also owns most of a Hawaiian island.

news.yahoo.com

Internet billionaire sells what is now the priciest residence ever in Florida; here are 10 things to know

Internet billionaire Jim Clark sold the property he bought in February for a recorded $94.37 million

news.yahoo.com

Will money-back guarantee win over wealthy donors?

The advocacy group Global Citizen and the finance firm NPX are engineering a new campaign that targets Forbes 400 billionaires, Giving Pledge members, and the wealthy generally — a group increasingly criticized for what is seen as tight purse strings.

Tesla proposes a 3-for-1 stock split; Ellison to leave Board

Tesla Inc. made the announcement in its annual proxy statement, which also said Oracle co-founder Larry Ellison will not be standing for re-election to the company's board. The company said in late March that was planning to split its stock for the second time in two years. Musk is planning on using his Tesla shares as collateral for buying Twitter, as well as potentially selling down his stake in the company to help with financing. Tesla shareholders will vote on the share split at the company's annual meeting on Aug. 4. The company, meanwhile, said Ellison, a major Tesla investor and friend of Musk's, will be stepping down from its board.

wftv.com

Tesla proposes a 3-for-1 stock split; Ellison to leave Board

Tesla has proposed a three-for-one split of its stock.

Tesla files for 3-for-1 stock split

Tesla just filed its annual proxy statement with the SEC and revealed it plans a three-for-one stock split, and that board member Larry Ellison does not plan to stand for re-election. "We believe the Stock Split would help reset the market price of our common stock so that our employees will have more flexibility in managing their equity." A stock split of this nature could mean that more smaller investors feel they can afford the stock, but those investors are minuscule compared to major institutions. In its 2022 proxy filing, the electric vehicle and renewable energy business, also revealed that board member Larry Ellison currently owns 1.5% of Tesla shares. The filing also says that Tesla CEO Elon Musk currently holds 6% of Tesla shares.

cnbc.com

Tom Cruise flipped and totaled one of Larry Ellison's cars while on Ellison's $300 million Hawaiian island: Bloomberg

Bloomberg spoke to eight sources about Tom Cruise's time on the Hawaiian island of Lanai, which billionaire Larry Ellison bought in 2012.

news.yahoo.com

Oracle’s Larry Ellison joined Nov. 2020 call about contesting Trump’s loss

The billionaire GOP donor, the biggest backer of Elon Musk’s attempted Twitter takeover, participated along with Fox’s Sean Hannity and Sen. Lindsey Graham, according to court filings and a participant.

washingtonpost.com

Wall Street, tech investors back Musk Twitter bid with $7B

Musk Twitter Explainer FILE - Elon Musk speaks at the SATELLITE Conference and Exhibition March 9, 2020, in Washington. Also, Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud has pledged 35 million in Twitter shares worth $1.77 billion, according to the filing. The high profile investors show "that it's not Musk single-handedly trying to turn around Twitter,” Ives said. Originally Musk had committed to borrowing $12.5 billion with Tesla stock as collateral to buy Twitter. Musk is balancing any adverse impact on Tesla stock against his desire to buy Twitter, Ives said.

wftv.com

Musk gets $7 billion in backing for Twitter bid from tech heavyweights

Tech titans including Oracle co-founder Larry Ellison have pledged funding, strengthening the equity stake of Musk's buyout.

cbsnews.com

Elon Musk expected to serve as temporary Twitter CEO after deal closes

Elon Musk is expected to serve as a temporary Twitter CEO for a few months after he completes his takeover of the company, sources told CNBC's David Faber.

cnbc.com

Musk lines up $7.1 billion in investor financing for Twitter bid

Placeholder while article actions loadOracle co-founder Larry Ellison, Sequoia Capital, Binance and others have collectively chipped in more than $7.1 billion in financing for Elon Musk’s Twitter takeover bid, according to a security filing. Now Musk’s margin loan — which allows him to borrow against the value of securities he already owns — has been cut from $12.5 billion to $6.25 billion, according to the filing. The deal will now be backed by $27.25 billion in cash and equity. Dan Ives, managing director at Wedbush Securities, said it’s no surprise Musk would seek to spread some of the costs of the $44 billion deal. GiftOutline Gift Article

washingtonpost.com

Musk gets $7B backing for Twitter bid from tech heavyweights

Musk Twitter Explainer FILE - Elon Musk speaks at the SATELLITE Conference and Exhibition March 9, 2020, in Washington. But Ellison, who is also a and Tesla board member, is making the biggest contribution, pegged at $1 billion. Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud has pledged 35 million in Twitter shares in support of Musk, according to the filing. Musk in earlier regulatory filings revealed that he has sold roughly $8.5 billion worth of shares in Tesla to help fund the purchase. Shares of Twitter Inc. have remained below the per-share offering bid by Musk of $54.20 because there are still doubts on Wall Street about whether the deal will go through.

wftv.com

Wall Street, tech investors back Musk Twitter bid with $7B

Elon Musk has strengthened the equity stake in his offer to buy Twitter with commitments of more than $7 billion from a range of investors, including Oracle co-founder and Tesla board member Larry Ellison.

Stocks making the biggest moves premarket: Twitter, SeaWorld, Shopify and more

These are the stocks posting the largest moves before the bell.

cnbc.com

Larry Ellison and other investors pledge billions to help Elon Musk pay for Twitter

Oracle co-founder Larry Ellison, venture capital firm Sequoia and crypto exchange Binance are among the investors that plan to support Elon Musk's Twitter bid.

cnbc.com

SailGP could have team owned by cryptocurrency fans by 2023

Global sailing league SailGP could have a team owned and operated by cryptocurrency enthusiasts as soon as the start of its fourth season in late 2023.

US SailGP team capsizes 6 days ahead of $1 million race

The U.S. SailGP team capsized its foiling 50-foot catamaran just off Alcatraz Island on San Francisco Bay, six days before it will race for the global league’s $1 million, winner-take-all season championship.

Heckling of Naomi Osaka will tarnish BNP Paribas Open's image for years to come

People know who the heckler is and are protecting her, a reader writes.

news.yahoo.com

Warren Buffett is worth $117 billion—once again making him one of the 5 richest people in the world

Unlike the other members of the top-five who have all lost money this year, Warren Buffett has actually seen his fortune grow by $7.8 billion.

cnbc.com

'I'm not convinced it's done yet': Section of Cliff Walk in Newport closed after collapse

"It's bad," said William Riccio, Newport’s director of public services, from the scene. Despite the damage, no injuries were reported on Thursday.

news.yahoo.com

Oracle cofounder Larry Ellison recently donated $15 million to a super PAC aligned with Sen. Tim Scott

On Sunday, Scott, one of the highest-profile Black Republicans, expressed a willingness to be Donald Trump's running mate in the 2024 election.

news.yahoo.com

Will Elizabeth Holmes' conviction sober up Silicon Valley?

The fraud conviction of former Theranos CEO Elizabeth Holmes could do more than just send a once-celebrated billionaire to prison for years.

Former Theranos CEO Holmes convicted of fraud and conspiracy

Elizabeth Holmes has been convicted of duping investors into believing her startup Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood.

Jury in Elizabeth Holmes trial hears replay of her boasts

Jurors in the fraud trial of former Theranos CEO Elizabeth Holmes returned to the courtroom Thursday to listen to a replay of audio recordings that captured her brash promises about a vaunted blood-testing technology the propelled her meteoric rise and scandalous downfall.

Oracle's Larry Ellison makes biggest deal ever, but he's buying profit over growth

In announcing its $28.3 billion purchase of Cerner on Monday, Oracle is looking to pay almost triple the price of its most expensive prior deal.

cnbc.com

Jurors starts weighing evidence in Elizabeth Holmes' case

The jurors now responsible for assessing 11 charges of fraud and conspiracy against former Theranos CEO Elizabeth Holmes are scheduled to begin their first full day of deliberations on Monday.

Larry Ellison is now richer than the Google co-founders after big Oracle run-up

Oracle co-founder Larry Ellison saw his wealth appreciate by almost $16 billion after his company's stock had its second best day in two decades.

cnbc.com

After AWS outage, Larry Ellison says a major customer told him that Oracle's cloud 'never ever goes down'

Oracle Chairman Larry Ellison used the end of the quarterly earnings call to tout his company's cloud in light of a major Amazon Web Services outage.

cnbc.com

Jury gets chance to hear Elizabeth Holmes' bold promises

A jury weighing the fate of fallen Silicon Valley star Elizabeth Holmes has had its first chance to listen to recordings of her boasting to investors about purported breakthroughs in blood-testing technology.

Tesla moving headquarters to Austin from San Francisco Bay Area

CEO Elon Musk stressed that the electric carmaker would keep a large presence in California but pointed to trends state leaders also worry about, such as a lack of affordable housing.

cbsnews.com

Jeff Bezos reportedly bought a new house on Maui after spending weeks donating to local charities

Bezos joins several other tech leaders, including Mark Zuckerberg and Larry Ellison, in putting down roots in Hawaii.

news.yahoo.com

Court battle ends tree dispute in pricey San Francisco area

SAN FRANCISCO — (AP) — Tall trees are venerated across California, but one towering Monterey Pine at the center of a heated dispute in San Francisco’s wealthiest neighborhood has to go, according to an appeals court ruling this week. A state appeals court on Wednesday ordered a couple in the hilltop Pacific Heights neighborhood to remove the tree, which is at least 32 feet (10 meters) tall. A neighbor argued the tree was blocking her view of the San Francisco Bay and other city landmarks, the San Francisco Chronicle reported. The neighbor is an 81-year-old woman who had moved into the San Francisco home with her now-deceased husband in 1976. The exclusive neighborhood of Pacific Heights, famous for its pricey mansions and breathtaking views, is no stranger to tree disputes.

wftv.com

Court battle ends tree dispute in pricey San Francisco area

Tall trees are venerated across California, but one towering Monterey Pine at the center of a heated dispute in San Francisco’s wealthiest neighborhood has to go, according to an appeals court ruling this week. A state appeals court on Wednesday ordered a couple in the hilltop Pacific Heights neighborhood to remove the tree, which is at least 32 feet (10 meters) tall. A neighbor argued the tree was blocking her view of the San Francisco Bay and other city landmarks, the San Francisco Chronicle reported.

news.yahoo.com

Former US defense secretary testifies in Holmes fraud trial

Former U.S. Secretary of Defense James Mattis testified Wednesday in the trial of fallen tech star Elizabeth Holmes, saying the entrepreneur misled him into believing she was on the verge of rolling out a blood-testing breakthrough that he hoped would help save lives of troops in battle.

Silicon Valley's quest to live forever could benefit humanity as a whole — here's why

A growing number of tech billionaires have decided they want to use their enormous wealth to try and help humans "cheat death."

cnbc.com

Elizabeth Holmes' trial to dissect downfall of a tech star

Elizabeth Holmes once seemed destined to fulfill her dream of becoming Silicon Valley's next superstar.

Remote workers from San Francisco flocked to Lake Tahoe during the pandemic. Now, thousands of people are being forced to evacuate as the Caldor fire bears down on the serene Northern California encla

The Caldor fire has burned through more than 191,000 acres in Northern California and is now headed toward Lake Tahoe.

news.yahoo.com

Israel urges Netanyahu return gifts; he denies keeping them

Israel Netanyahu Gifts FILE - In this June 14, 2021 file photo, former Israeli Prime Minister Benjamin Netanyahu speaks to right-wing opposition party members, at the Knesset, Israel's parliament, in Jerusalem. Israel's prime minister's office has urged Netanyahu to return dozens of expensive gifts he received while serving in the nation's top job. Netanyahu, ousted from the top job and replaced by Prime Minister Naftali Bennett in June, has denied all charges and has said he's a victim of a smear campaign. A senior Israeli official, speaking on condition of anonymity because he was not authorized to talk to the media, confirmed the prime minister's office contacted Netanyahu to return gifts he received as premier. Now, Netanyahu himself is on trial for fraud, breach of trust and accepting bribes in a series of cases while he served as prime minister.

wftv.com

Israel urges Netanyahu return gifts; he denies keeping them

Israel’s prime minister’s office has urged former premier Benjamin Netanyahu to return dozens of expensive gifts he received while serving in the nation’s top job.

Israel urges Netanyahu return gifts; he denies keeping them

Israel's prime minister's office has urged former premier Benjamin Netanyahu to return dozens of expensive gifts he received while serving in the nation's top job. The request, confirmed Monday by the office of Prime Minister Naftali Bennett, came as Netanyahu reportedly vacationed on a private island in Hawaii almost wholly owned by billionaire Larry Ellison. The Oracle founder is a friend of Netanyahu's and also a witness for the prosecution in the former leader's corruption trial.

news.yahoo.com

Major Republican donors are sending 'big money' to Sen. Tim Scott ahead of midterms and 2024 race

Major Republican donors are sending 'big money' to Sen. Tim Scott ahead of midterms and 2024 race

news.yahoo.com

Google will stop using Oracle's finance software and adopt SAP instead

Google plans to migrate its internal financial software from Oracle to SAP in the coming weeks.

cnbc.com

Oracle's planned wave of capital spending won't put it on par with cloud leaders like Amazon

IBM and Oracle don't disclose revenue from their public clouds, but they do disclose total capital expenditures. In the past four quarters, IBM and Oracle's combined capital expenditures total less than one-quarter Microsoft. "They're $100 billion behind," said Charles Fitzgerald, a former Microsoft general manager who has written about capital expenditures on his blog Platformonomics. Amazon, Google and Microsoft together had more than $90 billion in capital expenditures in 2020. Amazon had higher capital expenditures than any other company in the S&P 500 in the most recent fiscal year, according to FactSet data.

cnbc.com

Oracle drops after CEO delivers low earnings guidance on call

Oracle CEO Safra Catz delivers a keynote address during the 2019 Oracle OpenWorld on September 17, 2019 in San Francisco, California. Oracle CEO Safra Catz kicked off day two of the 2019 Oracle OpenWorld with a keynote address. Here's how the company did:Earnings: $1.16 per share, adjusted, vs. $1.11 per share as expected by analysts, according to Refinitiv. $1.16 per share, adjusted, vs. $1.11 per share as expected by analysts, according to Refinitiv. Revenue: $10.09 billion, vs. $10.07 billion as expected by analysts, according to Refinitiv.

cnbc.com

Oracle reports slow revenue growth as licensing and hardware businesses decline

Oracle's revenue grew nearly 2% year over year in the quarter, which ended Nov. 30, according to a statement. In the prior quarter revenue increased by almost 2%. He was referring to Oracle's cloud infrastructure, which competes with the likes of Amazon Web Services and Microsoft Azure. Oracle's second-generation cloud-infrastructure revenue grew 139% in the quarter, Oracle CEO Safra Catz said on the call. The company's $752 million in services revenue, while slightly more than the $750 million consensus, was off by 7%.

cnbc.com

Salesforce CEO Marc Benioff praises former boss Larry Ellison for TikTok deal: He's the 'master of relevance'

Salesforce CEO Marc Benioff praised Oracle chief Larry Ellison's efforts to break into the social media space with a potential TikTok partnership. The enterprise software maker was approved for a deal in principle over the weekend to partner with the rapidly growing social media app, allowing it to avoid a U.S. shutdown. "I'm so impressed by seeing them and everyone else make these aggressive moves," Benioff said Wednesday on CNBC's "Closing Bell." Benioff and Ellison have a longtime relationship, as Benioff worked at under Ellison at Oracle for 13 years before starting Salesforce. The pair had a falling-out as Oracle began challenging Salesforce, but Benioff said the two are now "very close friends."

cnbc.com

Q&A: What does a deal between TikTok and Oracle mean?

ByteDance Ltd., a Chinese company, launched TikTok in 2017, then bought Musical.ly, a video service popular with teens in the U.S. and Europe, and combined the two. TikTok says it does not store U.S. user data in China and that it would not give user data to the government. There are also concerns about TikTok censoring videos critical of China, which TikTok denies, or pushing propaganda. Oracle was among the pool of bidders, including Microsoft and Walmart, to buy TikTok’s American operations. If Oracle and TikTok can show they can safeguard user data in the U.S., CFIUS and the Trump administration might accept the arrangement.

Source: Oracle wins TikTok over Microsoft in Trump-urged bid

TikTok denies it is a national-security risk and is suing to stop the administration from the threatened ban. TikTok denies that it has shared user data with the Chinese government or that it would do so if asked. It competes with tech giants such as Microsoft and Amazon that provide cloud services as well as business-software specialists like Salesforce. The president said on Aug. 18 that Oracle was “a great company” that “could handle” buying TikTok. He declined to state his preference between Oracle and Microsoft as buyers.

Zoom got big fast. Then videobombers made it rework security

That time is up, and Zoom is ready to take a bow. Zoom hailed some of the strides that it says it has made in a Wednesday blog post. Zoom has promised to make it virtually impossible for anyone outside a meeting to eavesdrop by scrambling conversations via end-to-end encryption. The day after its original announcement, faced with a backlash, Zoom agreed to extend the encryption to free plans as well. Steckelberg said the company doesnt have any immediate plans to sell ads, but didnt rule out that possibility.

3 big Trump donors are among business leaders influencing coronavirus response

President Donald Trump looks on during the daily briefing on the novel coronavirus, which causes COVID-19, in the Brady Briefing Room of the White House on April 24, 2020, in Washington, DC. Three of the men Ellison, Schwarzman and Catsimatidis are big Trump donors. President Donald Trump has sought and received advice on tackling the coronavirus crisis in private conversations with several of his allies in the business world, according to people familiar with the matter. The person who described this response would not explain which banks or executives the White House referred to in its response. The New York Times reported Ellison discussed with Trump the idea of potentially using hydroxychloroquine, an anti-malaria drug, as a coronavirus treatment.

cnbc.com

Ousted vaccine doctor felt pressure to rush possible Covid-19 treatment after Trump spoke to Oracle boss Larry Ellison

Larry Ellison, co-founder and executive chairman of Oracle Corp., speaks during the Oracle OpenWorld conference in San Francisco on Oct. 22, 2018. A top federal doctor who was ousted from his post this week felt pressured to rush out expanded access to a potential treatment for coronavirus patients after President Donald Trump discussed the drug with Larry Ellison, chairman of tech giant Oracle, NBC News reported Thursday. The Post reported that Oracle planned to donate to the government a related website to assist in that effort. In a statement Wednesday, Bright said he was ousted after resisting widespread adoption of hydroxychloroquine, which Trump has promoted as a treatment for Covid-19. Science, in service to the health and safety of the American people, must always trump politics," said Bright.

cnbc.com

The ultra-rich are investing in companies trying to reverse aging. Is it going to work?

Many people, especially the ultra-wealthy in Silicon Valley, are investing money into companies trying to answer exactly those questions. In 2013, Google formed aging research company Calico. Oracle co-founder Larry Ellison has donated hundreds of millions of dollars to aging research, The New Yorker reported. There are a slew of other companies tackling aging, including BioAge, BioViva, The Longevity Fund, AgeX and the Methuselah Foundation. "And in this case, the market for age-related disease and aging is a trillion dollar market."

cnbc.com

Thousands of Oracle employees protest Larry Ellison's Trump campaign fundraiser

Larry Ellison, co-founder and executive chairman of Oracle Corp., speaks during the Oracle OpenWorld conference in San Francisco on Oct. 22, 2018. More than 2,300 Oracle employees have signed a petition against a fundraiser for President Trump's 2020 re-election campaign that's reportedly scheduled to be held on Wednesday at a Southern California property owned by founder and chairman Larry Ellison. In the past few years, employees at Amazon, Google, Microsoft and Salesforce have spoken out against corporate practices they've disagreed with. Former CIA chief Leon Panetta has held a seat on Oracle's board since 2015, and in 2016 Oracle CEO Safra Catz joined President Trump's transition team. Oracle sought a major contract to provide cloud computing resources to the Pentagon, and in 2018 Catz had dinner with Trump.

cnbc.com

5 things to know before the stock market opens Friday

Dow to open higher after coronavirus concerns knocked stocks from record highsTraders work at the New York Stock Exchange, February 4, 2020. Bryan R Smith | ReutersU.S. stock futures were modestly higher Friday. Tesla prices new stock offering at a discountTesla CEO Elon Musk speaks during the Tesla China-made Model 3 Delivery Ceremony in Shanghai. STR | AFP | Getty ImagesTesla said Friday it priced its secondary common stock offering, which was announced Thursday morning, at $767 per share. China reveals six infected health workers diedChina's National Health Commission said overnight that 1,716 health workers in the country had been infected with the coronavirus and six have died.

cnbc.com

Larry Ellison is helping Elon Musk spur demand for new Tesla stock with 'token purchase,' says researcher

Ellison disclosed his ownership of 3 million shares of Tesla when he joined the company's board in December 2018. Ellison has spoken highly about Tesla in the past, saying he believes the stock "has a lot of upside." Musk bought $20 million worth of shares around $242 in a 2015 offering and $25 million worth of shares around $262 in a 2017 offering, according to Silverman. Silverman credited the higher stock price as a factor in both Ellison and Musk's relatively small purchases. Correction: This story has been updated to reflect the correct amount Elon Musk invested in past public stock offerings of Tesla.

cnbc.com

Trump to attend campaign fundraising event at Oracle Chairman Larry Ellison's Rancho Mirage estate, report says

President Donald Trump is expected to attend a campaign fundraising event at Oracle Chairman Larry Ellison's California estate next week, the Desert Sun reported Wednesday. The event is set to take place at Ellison's Rancho Mirage estate on Feb. 19, which is less than two weeks before the Super Tuesday primary election, which includes California's primary. According to an invitation posted on the newspaper's website, the event will include a golf outing at Ellison's Porcupine Creek home. Supporters will have to pay $100,000 for the golf outing and to have their photo taken with the president. Supporters can pay $250,000 for a photo, golf outing, plus participation in a round table with the president.

cnbc.com

Oracle hires a new chief marketing officer from Amazon Web Services

Oracle has hired Ariel Kelman to be its new chief marketing officer, two people familiar with the matter said. Kelman is joining from Amazon Web Services, where he had been vice president of worldwide marketing for six years. He joined AWS from Salesforce, where he had held marketing roles, as head of worldwide marketing in 2011, and in 2014 he became AWS' vice president for worldwide marketing in 2014, according to his LinkedIn profile. Before joining Salesforce Kelman spent two years at MicroStrategy and co-founded a start-up, Ventaso. Matt Garman, who had been vice president of compute services, is taking on new responsibilities spanning sales and marketing in a chief operating officer-like role.

cnbc.com

Stocks making the biggest moves premarket: Oracle, Adobe, Broadcom, Costco, Tapestry & more

Check out the companies making headlines before the bell:Oracle (ORCL) Oracle beat estimates by 2 cents a share, with quarterly profit of 90 cents per share. The business software giant's revenue fell short of Wall Street estimates and its current-quarter earnings outlook falls largely below Wall Street forecasts. Adobe (ADBE) Adobe reported quarterly profit of $2.29 per share, 3 cents a share above estimates. Costco (COST) Costco came in a penny a share ahead of estimates, with quarterly profit of $1.73 per share. Broadcom (AVGO) Broadcom beat estimates by 4 cents a share, reporting quarterly profit of $5.39 per share.

cnbc.com

Oracle stock drops as revenue falls short

Oracle Chairman and Chief Technolgoy Officer Larry Ellison delivers a keynote address during the Oracle OpenWorld conference in San Francisco on October 22, 2018. Oracle shares moved 3% lower in extended trading on Thursday after the company reported fiscal second-quarter revenue that fell short of analysts' estimates. Excluding certain items, 90 cents per share, vs. 88 cents per share as expected by analysts, according to Refinitiv. For the full 2020 fiscal year Catz reiterated that Oracle would grow revenue faster than the prior fiscal year in constant currency, with double-digit earnings growth. The analysts have a neutral rating on Oracle stock, saying that they're waiting for signs of improvement in the company's core database business.

cnbc.com

Oracle shows buybacks can go too far

Oracle chief technology officer Larry Ellison speaks at a company event in Redwood Shores, Calif., on Aug. 7, 2018. Fitch Ratings cut its Oracle rating to A from A+ last year. Buybacks that were already ongoing before the tax cuts kept surging, drawing down Oracle's cash from more than $70 billion just after the law passed. Goldman analyst Heather Bellini, who declined an interview request through spokeswoman Megan Riley, has Oracle on the firm's Conviction Buy list. Morgan Stanley, meanwhile, sees only 1.6% revenue growth in Oracle's 2020 fiscal year, with all earnings-per-share growth coming from buybacks.

cnbc.com
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