Canaccord Genuity Morning Coffee on Hewlett-Packard (HPQ) and Oracle (ORCL): Clash of the Tech Titans
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Price: $21.27 -0.42%
Rating Summary:
6 Buy, 20 Hold, 12 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 20 Hold, 12 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade HPQ Now!
Canaccord Genuity Morning Coffee on Hewlett-Packard (NYSE: HPQ) and Oracle (Nasdaq: ORCL): Clash of the Tech Titans.
Hewlett-Packard and Oracle faced off in court on Monday for opening statements in a bitter lawsuit over Oracle’s decision to end support for H-P’s Itanium-based servers. The trial, in which H-P seeks up to $4 billion in damages, comes just days after Oracle lost a separate high stakes case against Google (Nasdaq: GOOG) over smartphone technology. In March 2011, Oracle said it would stop creating software that would run on H-P’s Itanium-based servers, saying Intel made it clear that the chip was nearing the end of its life and that Intel (Nasdaq: INTC) was shifting its focus to its x86 microprocessor. HP claims that it and Oracle had agreed that to continue support for the high-end Intel-made chip, or would render the Itaniumbased H-P equipment obsolete. The PC manufacturer stated that commitment was affirmed when it settled an earlier lawsuit over Oracle's hiring of former H-P CEO Mark Hurd. H-P sued Oracle in California state court last year, calling Oracle's recruitment of Hurd “anti-customer.” Oracle says HP’s claims “cannot support” its damages estimate, and has countersued HP for false advertising, asserting that HP failed to disclose the terms of its contract with Intel.
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Hewlett-Packard and Oracle faced off in court on Monday for opening statements in a bitter lawsuit over Oracle’s decision to end support for H-P’s Itanium-based servers. The trial, in which H-P seeks up to $4 billion in damages, comes just days after Oracle lost a separate high stakes case against Google (Nasdaq: GOOG) over smartphone technology. In March 2011, Oracle said it would stop creating software that would run on H-P’s Itanium-based servers, saying Intel made it clear that the chip was nearing the end of its life and that Intel (Nasdaq: INTC) was shifting its focus to its x86 microprocessor. HP claims that it and Oracle had agreed that to continue support for the high-end Intel-made chip, or would render the Itaniumbased H-P equipment obsolete. The PC manufacturer stated that commitment was affirmed when it settled an earlier lawsuit over Oracle's hiring of former H-P CEO Mark Hurd. H-P sued Oracle in California state court last year, calling Oracle's recruitment of Hurd “anti-customer.” Oracle says HP’s claims “cannot support” its damages estimate, and has countersued HP for false advertising, asserting that HP failed to disclose the terms of its contract with Intel.
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