Oracle Proposes Moving From NASDAQ to NYSE

Oracle (NYSE: ORCL  ) has proposed moving its ticker symbol away from the NASDAQ Stock Market to the New York Stock Exchange, the company announced late yesterday in an SEC filing.

Oracle's transfer will be subject to approval from the NYSE. If approved, the company will begin trading on the NYSE on July 15 using its current ticker symbol of "ORCL." Until then, it will continue trading on the NASDAQ using "ORCL."

Oracle said the transition would "be in the best interests of its stockholders, customers and partners."

Oracle's news was included in the company's fourth-quarter earnings release. During the quarter, its GAAP revenues were unchanged at $10.9 billion, although its GAAP operating income was up 9% to $5 billion.

The company also announced doubling its dividend for the fourth quarter to $0.12 a share from $0.06 a share. Oracle has a market cap of $143 billion.

NYSE Euronext (UNKNOWN: NYX.DL  ) put out its own press release on Oracle's plans this morning, saying "Oracle’s decision to transfer to the New York Stock Exchange validates the strength of the NYSE brand and our global leadership across all sectors -- including technology." NYSE said Oracle would be the fourth NASDAQ-100 company to transfer to the NYSE during the past year.

link


Read/Post Comments (1) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On June 22, 2013, at 9:25 AM, mmrhino wrote:

    Forgive my ignorance but what advantages does being quoted and traded on the NYSE have over the NASDAQ

Add your comment.

DocumentId: 2503288, ~/Articles/ArticleHandler.aspx, 4/16/2014 4:26:17 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement