Billionaire Buffet's Berkshire liquidates $2.1bn stake in Oracle – just months after buying the shares | 2/16/2019 | Staff
Click For Photo:

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:
Wake Up To Breaking News!
May you always have love to share, health to spare, and friends that care
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!