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Oracle Stock Falls 4% as CEO Larry Ellison Creates Two-Headed Monster (ORCL)
Amid yet another dreary earnings report, Oracle Corp. (NYSE: ORCL) announced that iconic founder and CEO Larry Ellison would surrender his chief executive title after 37 years.
The one-two punch dropped Oracle stock 4% today (Friday).
But for ORCL investors, Ellison's title change, or even another weak earnings report, wasn't the biggest concern. That would be the promotion of not one, but two CEOs.
Here’s why Ellison did it – and why it’s bad news for ORCL stock…
Amid yet another dreary earnings report, Oracle Corp. (NYSE: ORCL) announced that iconic founder and CEO Larry Ellison would surrender his chief executive title after 37 years.
The one-two punch dropped Oracle stock 4% today (Friday).
But for ORCL investors, Ellison's title change, or even another weak earnings report, wasn't the biggest concern. That would be the promotion of not one, but two CEOs.
Here’s why Ellison did it – and why it’s bad news for ORCL stock…