Oracle's Project Jupiter with BorderPlex showcases commitment to sustainability
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 01 2024
0mins
Should l Buy ORCL?
Source: Businesswire
Oracle Corp's stock is down 5.01% in pre-market trading, hitting a 5-day low amid broader market weakness with the Nasdaq-100 down 0.47% and the S&P 500 down 0.14%.
The decline comes despite Oracle's announcement of Project Jupiter, a collaboration with BorderPlex that will utilize Bloom Energy fuel cells, significantly reducing emissions and committing $50 million to local water systems and $360 million for schools and infrastructure, creating thousands of jobs in New Mexico. This project highlights Oracle's focus on sustainability and economic development, which could positively impact its long-term growth prospects.
The implications of this project are significant, as it not only addresses environmental concerns but also fosters local economic growth. However, the current stock decline suggests that investors may be reacting to broader market conditions rather than the positive developments within the company.
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Analyst Views on ORCL
Wall Street analysts forecast ORCL stock price to rise
34 Analyst Rating
25 Buy
9 Hold
0 Sell
Moderate Buy
Current: 161.390
Low
180.00
Averages
309.59
High
400.00
Current: 161.390
Low
180.00
Averages
309.59
High
400.00
About ORCL
Oracle Corporation offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. The Company operates through three businesses: cloud and license, hardware and service. Its cloud and license business is engaged in the sale, marketing and delivery of its enterprise applications and infrastructure technologies through cloud and on-premise deployment models including its cloud services and license support offerings, and its cloud license and on-premise license offerings. Its hardware business provides infrastructure technologies including Oracle Engineered Systems, servers, storage, industry-specific hardware, operating systems, virtualization, management and other hardware-related software to support diverse IT environments. Its services business provides services to customers and partners to help maximize the performance of their investments in Oracle applications and infrastructure technologies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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