Larry Ellison cancels plan to sell Oracle stock worth… - inkl
📉 Larry Ellison canceled his plan to sell up to 50 million Oracle shares worth approximately $7.5 billion.
🚫 No Oracle stock was sold under the trading plan, and Ellison has no other plans to sell his holdings.
📊 Oracle's stock is down nearly 23% year-to-date due to investor concerns over soaring capital expenditure.
💰 Ellison remains the largest shareholder, owning over 38% of the company according to LSEG data.
📈 Recent quarterly results topped Wall Street estimates with smaller-than-expected cash burn, leading to a Friday stock jump.
⚠️ Analysts caution that a full recovery in free cash flow remains some way off despite recent earnings beats.
💸 Oracle announced restructuring costs will rise by about $700 million as part of a plan including job cuts.
- Larry Ellison canceled his plan to sell up to 50 million shares worth approximately $7.5 billion, removing potential selling pressure from the market.
- Recent quarterly results topped Wall Street estimates with a smaller cash burn than expected, leading to a jump in shares on Friday.
- Analysts indicate that a recovery in cash flow remains some way off, weighing on sentiment despite recent earnings beats.
