This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Oracle's Hurd Flexes His Muscles

Stocks in this article: ORCL HPQ IBM

REDWOOD SHORES, Calif. ( TheStreet) -- Former Hewlett-Packard (HPQ) CEO Mark Hurd is already flexing his muscles in his new role as co-president of Oracle (ORCL), according to analyst firm JMP Securities.

Hurd, who was hired by Oracle after being ousted by HP following an expenses scandal, has laid out his plans for the database giant, said Pat Walravens, an analyst at JMP.

Citing conversations with people familiar with his activities, Walravens said that Hurd immediately targeted Oracle's sales force execution and productivity after joining the firm on Sep. 6. "Hurd reportedly told Oracle employees at an internal meeting that his biggest priority is fixing the disconnect between Oracle's sales and consulting services," added the analyst in a note released on Monday.

Mark Hurd
Mark Hurd

Walravens also maintained his market outperform rating and $33 price target on Oracle. "Overall, Mr. Hurd's impact on the organization increases our confidence in our estimates of non-GAAP EPS of $1.98 in fiscal year 2011 and $2.34 in 2012," he wrote.

Beloved by Wall Street, Hurd was credited with turning HP's fortunes prior to his ouster. Hurd's extensive knowledge of the hardware market will prove key as Oracle attempts to shake off its reputation as primarily a software company.

Oracle beat Wall Street's forecast in its recent first-quarter results, boosted by new software license sales. Hurd's boss, Larry Ellison, seems hell-bent on clawing share from tech giant IBM (IBM), which missed analysts' revenue estimate in its most recent quarterly results.

By focusing on sales and consulting, Oracle is looking to up the pressure on its arch rival. IBM, which wields its vast Global Services division as a cudgel, has also taken a big swipe at Oracle by acquiring data warehousing specialist Netezza for $1.7 billion. Oracle, however, says that it is enjoying strong demand its Exadata database machine , and the company has also been confounding the critics who said that its $7.4 billion acquisition of Sun Microsystems was a bad move.

Oracle shares rose 6 cents, or 0.21%, to $28.96 on Monday, as the Nasdaq crept up 0.13%.

--Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com

Readers Also Like:


Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs