Oracle Snags Micros Systems, Vertex Soars & America Exports Oil
Oracle announced Monday the purchase of Micros Systems for $5.3B, or $68 per share. Oracle plans to combine Micros' industry-specific applications with its own business software. Not only that, Oracle says the deal will immediately add to its adjusted earnings. Meanwhile, shares of Vertex Pharmaceuticals soared more than 40% Tuesday after the drugmaker said its cystic fibrosis treatment worked better than a placebo in a late-stage study. Cystic fibrosis is a rare inherited disease that causes thick mucus to form in the lungs. Finally, the Commerce Department gave Pioneer Natural Resources and Enterprise Products Partners permission to ship a type of ultralight oil to foreign buyers. The shipments will be America's first oil exports in nearly 40 years.