Billionaire Buffet's Berkshire liquidates $2.1bn stake in Oracle – just months after buying the shares

www.theregister.co.uk | 2/16/2019 | Staff
Click For Photo: https://regmedia.co.uk/2017/08/04/shutterstock_oracle.jpg

Oracle's share prices took a buffeting last night after it was revealed billionaire Warren Buffet's Berkshire Hathaway had ditched its $2.1bn stake in Big Red.

The divestment was revealed in the firm's latest SEC filing, which lists stock at the end of the third quarter, 31 December 2018, and had a Big Red hold.

Move - Berkshire - Hathaway - Oracle - Shares

The move is particularly noteworthy because Berkshire Hathaway had only bought the 41.4 million Oracle shares in the previous quarter – and Bill Gates' bridge partner's biz rarely ditches stock that fast.

The news saw Oracle share prices fall 2 per cent, according to CNBC, although they had recovered at the time of writing.

Oracle - Plenty - Cash - Pace - Competitors

Although Oracle still brings in plenty of cash, it is widely seen to be struggling to keep pace with competitors in the cloud, while demand for on-premises kit continues to decline.

Its latest financial results, for Q2 2019, saw revenues of $9.6bn, up just 2 per cent when adjusted for...
(Excerpt) Read more at: www.theregister.co.uk
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