Oracle (ORCL) Slammed on Speculation of Executive Departure

Shares of Oracle (Nasdaq: ORCL) are under pressure today and are down 3.3 percent. Nomura analyst Rick Sherlund says Oracle's EVP of North American sales Keith Block may have left the co. on Friday, citing one "industry source." Reasons for possible departure are unclear, but could be related to recent performance or perhaps a strained relationship with Mr. Hurd.

Sherlund commented today that industry checks for Q4 indicate that the environment was a bit worse, but they still expect the company to report in-line because of large deals early in the quarter. They also think ORCL is selling at near trough valuation levels.

The technology company will be reporting forth quarter earnings on Thursday, June 21st after the market closes.

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