Oracle Corp. (ORCL) - Get Report shares were up 2.8% to $51.69 in morning trading Friday after analysts at Argus upgraded the stock to "buy" from "hold" with a $61 price target following the company's fourth-quarter earnings beat.
"Oracle's primary execution task is now to accelerate the conversion of its blue chip customer base to the cloud," analyst Joseph Bonner said.
Bonner says that fiscal 2018 will be the tipping point for growth in the company's cloud business. The cloud business is already showing signs of margin expansion, Bonner said.
What's Hot On TheStreet:
Well OK then, Jeff Immelt: General Electric's (GE) - Get Report outgoing CEO Jeff Immelt had some choice things to say at an event in NYC on Thursday night, TheStreet's Kinsey Grant reports. First, Immelt revealed a possibly fatal management mistake Kroger's (KR) - Get Report CEO might have made about Amazon (AMZN) - Get Report who as we all know, just inked a $13.7 billion deal for organic grocer Whole Foods (WFM) . Immelt then took a jab at Hillary Clinton and Barack Obama for not visiting factories in their push to lift manufacturing wages. Talk about a well-paid boss going down swinging.
Why Sears Canada is dying: Sears Canada (SRSC) has one foot in the grave just like its ailing U.S. friend Sears Holdings Corp. (SHLD) . Unfortunately for Sears Canada, it's that friend across the boarder that has played a large role in its demise, TheStreet's Michelle Lodge reports. Sears has sucked badly needed cash away from Sears Canada through the years, leaving it unable to upgrade stores and do other things to compete effectively in the always challenging Canadian retail market.
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