Oracle Corporation (ORCL) Spearheading Anti-Amazon Agenda In DC

NYSE: ORCL | Oracle Corporation Common Stock News, Ratings, and Charts

ORCL – A number of fellow tech giants are trying to block Amazon from landing a lucrative government contract, and Oracle is leading the charge.

Amazon has its sights set on landing a lucrative government contract that will be awarded in the coming months, but Oracle Corporation (NYSE:ORCL) is going to have something to say about that. The tech behemoth is at the forefront of an effort aimed at insuring that Amazon falls short in its efforts to seal the deal. 

Bloomberg has the scoop on what Oracle is up to.

Oracle Corp. is leading a campaign in Washington to prevent Inc. from winning a lucrative Defense Department computing contract that’ll be awarded in coming months, according to three people familiar with the matter.

The Oracle-led effort relies on a loose coalition of technology companies also seeking a slice of the Pentagon work, including Microsoft Corp. and International Business Machines Corp., said the people, who described the matter on condition of anonymity. Dell Technologies Inc. and Hewlett Packard Enterprise Co. are also participating, said one of the people.

Amazon has been rumored to be ahead of the pack in terms of chances to land the deal, but Oracle isn’t prepared to just fade into the background with a potential multi-billion dollar deal on the table. The company is said to have ramped up lobbying efforts in recent months, and company SVP Ken Glueck acknowledged in a statement that Oracle certainly hopes to be in the running for the contract award.

“Of course Oracle is interested in competing for the DoD cloud contract and we are equally interested in the mission success of the DoD,” Glueck said in part.

Oracle Corporation shares rose $0.19 (+0.41%) in premarket trading Monday. Year-to-date, ORCL has declined -2.16%, versus a 0.35% rise in the benchmark S&P 500 index during the same period.

ORCL currently has a POWR Rating of C (Neutral), and is ranked #33 of 64 stocks in the Software – Application category.

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ORCL Current Price $53.12 0.72%
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The day of this event (Apr. 16, 2018)
ORCL Closing Price$45.51 0.35%
ORCL Volume11,778,146
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ORCL 1-mo return11.84%
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ORCL 5-day return0.20%

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