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Oracle's share prices took a buffeting last night after it was revealed billionaire Warren Buffett'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...
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