REDWOOD SHORES, Calif. (TheStreet) -- Oracle (ORCL) - Get Oracle Corporation Report is expected to provide an update on its controversialacquisition 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

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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 International Business Machines (IBM) 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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