REDWOOD SHORES, Calif. (TheStreet) -- Oracle (ORCL - Get Report) is expected to provide an update on its controversial acquisition of Sun (JAVA) when it reports its second-quarter results after the market closes on Thursday.

After trading insults with the European Commission about the antitrust implications of the deal, there have been rumblings that the two sides are close to burying the hatchet.

Oracle attended a behind-closed-doors hearing with the E.C. last week that focused on Sun's core MySQL database technology. MySQL powers many free software programs such as WordPress and has prompted European concern that the deal could have widespread ramifications for the overall tech sector.

With Oracle recently promising publicly to maintain MySQL's open source credentials, E.U. competition commissioner Neelie Kroes is said to be optimistic about achieving a successful outcome in the case. The E.C. has until Jan. 27 to approve or reject the acquisition, although Oracle CEO Larry Ellison and his executive team are expected to face questions on the deal during Thursday's second-quarter conference call.

The Oracle chief may also use the call to fire more shots at arch-rival IBM ( IBM - Get Report). During his opening keynote at Oracle's annual user conference in October, Ellison came out with guns blazing, blasting IBM for allegedly claiming that Oracle would get rid of Sun's hardware business.

Sun uses its SPARC processor technology within its hardware, whereas IBM sells systems based on its own chips, called Power. The two companies are set to go head to head.

Oracle missed analysts' sales estimates in its first quarter as it felt the impact of weak license sales in Europe and Asia. However, the company's database business is expected to rebound in the second quarter as firms prepare to revamp their IT infrastructure, according to Broadpoint AmTech analyst Yun Kim.

Analysts surveyed by Thomson Reuters expect Oracle to post revenue of $5.69 billion and earnings of 36 cents a share, compared to $5.6 billion and 34 cents a share in the same period last year.

Oracle's shares, which have risen just over 30% this year, closed down 4 cents, or 0.18%, at $23.12 Wednesday.

-- Reported by James Rogers in New York

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