NEW YORK (TheStreet) -- Oracle (ORCL) shares are up 0.26% to $40.82 in early market trading on Friday after the business software manufacturer agreed to rival SAP's (SAP) $359 million settlement, ending a dispute between the companies over stolen copyrighted instruction manuals.
Thursday's announcement puts to rest a seven year dispute between the two companies after Oracle sued SAP for the theft which was engineered by a German software company that SAP purchased for $10 million.
The conflict's resolution comes after a jury initially awarded Oracle a $1.3 billion settlement that was later lowered to $272 million by a federal court judge. That settlement had been tied up in the appeals process until an appeals court ruled in August that Oracle either had to accept a $356.7 million settlement plus $2.5 million in interest or go back to trial.
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TheStreet Ratings team rates ORACLE CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ORACLE CORP (ORCL) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, reasonable valuation levels, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had sub par growth in net income."