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.
Dan Radovsky has no position in any stocks mentioned. The Motley Fool recommends NYSE Euronext. The Motley Fool owns shares of Oracle.. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.