This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sun/Oracle Prompts E.U. Optimism

Updated with IBM's comments on the E.U.'s concerns

BRUSSELS ( TheStreet) -- Sun's (JAVA) controversial acquisition by Oracle (ORCL - Get Report) is entering into a crucial few days although E.U. officials are said to be optimistic before Thursday's hearing to discuss the proposed merger.

Reuters reports that despite the European Commission's much-publicized objections to the deal, competition commissioner Neelie Kroes is hopeful of striking a compromise with database giant Oracle at the two-day hearing.

"I am still optimistic that we can reach a satisfactory outcome that will ensure there is no adverse impact on effective competition in the European market," said Kroes at a press conference on Wednesday, according to Reuters.

Sun shares crept up 3 cents, or 0.35%, to $8.52 shortly after the market opened on Wednesday. Oracle's stock dipped 4 cents, or 0.17%, to $21.87, mirroring the Nasdaq, which was down 0.21%.

E.C. officials recently issued a formal objection to the deal as regulators voiced their concern about Oracle taking control of Sun's MySQL technology, which has strong links to the open source community.

This prompted a war of words between Oracle and the E.C., with both sides trading barbs. In a statement released last month, Oracle vowed to oppose the E.C. and said that it was confident of its ability to clinch the sale with "unconditional clearance."

The software maker has also denied a report that it is willing to create a separate unit to house Sun's contentious MySQL database technology.

MySQL, which competes with Oracle, Microsoft's (MSFT - Get Report) SQL and IBM's (IBM - Get Report) DB2, is one of Sun's core technologies. The MySQL server powers many open-source programs such as WordPress, and the E.C. is worried about behemoth Oracle controlling such a key technology.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
IBM $145.94 0.00%
MSFT $49.87 0.00%
ORCL $39.86 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs