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-0.00153683094859576 -0.000380498145204007 -0.0067302596714362 -0.00604133545310024 0.0142554319024907 0.0179650238473767 0.0188659247482777 0.02241653418124
Stock impact report

Oracle stock jumps 5% as cloud provider joins investor group to run TikTok's U.S. business [CNBC]

Oracle Corporation (ORCL) 
Last oracle corporation earnings: 3/12 04:02 pm Check Earnings Report
Company Research Source: CNBC
The deal prevents a shutdown of the app in the U.S. over national security concerns. Oracle shares have been on a tumultuous run in recent weeks as fears mount over the sustainability of the AI trade. In this article Oracle 's stock jumped about 4% Friday after the cloud provider joined a group of investors slated to lead TikTok 's U.S. operations. In a memo to employees Thursday, CEO Shou Zi Chew said the social media company's U.S. division will be run by a joint venture that includes Oracle, Silver Lake, and Abu Dhabi-based MGX. The deal is expected to close on Jan. 22. The agreement prevents the popular social platform from getting banned after President Joe Biden signed a law requiring a divestiture of the company's U.S. unit due to national security concerns. President Donald Trump extended the deadline for a deal on multiple occasions and signed an executive order in September that approved a potential plan for China-based ByteDance to divest. Oracle will be task Show less Read more
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