Oracle Stock Price Drops After Disappointing Quarterly Results

Oracle co-CEO Mark Hurd delivers a keynote address during the Oracle OpenWorld on October 23, 2018 in San Francisco, California.

We beg to differ. A day after Spotify complained about what it called anti-competitive practices at Apple, Apple fired back. The iPhone maker noted that most Spotify users listen for free with ads, and Spotify doesn’t share any of its ad revenue with Apple. “Developers, from first-time engineers to larger companies, can rest assured that everyone is playing by the same set of rules,” Apple said. Apple also announced the date for its World Wide Developer Conference. WWDC 2019 will be held in San Jose from June 3-7.

Never gone keep me down. Looking cool, calm, and collected in an all-black outfit, Tesla CEO Elon Musk unveiled the company’s new electric crossover SUV, the Model Y. The Verge has a 3-minute video clip of highlights from the event, including Musk’s parting words now that Tesla offers a Model S, 3, X and Y: “We are bringing sexy back, quite literally.”

Leaking from the top. The Facebook news hose never runs dry. On Thursday, the social network said chief product officer Chris Cox and WhatsApp vice president Chris Daniels are leaving the company. Cox, one of the first 15 engineering hires at Facebook, said he was leaving because of the company’s pivot to privacy and encryption. “This will be a big project and we will need leaders who are excited to see the new direction through,” Cox wrote in a post on his Facebook page.

If at first you don’t succeed. Just a a few days after news leaked that Google was scaling back its long-suffering tablet efforts comes word that Walmart may be stepping in to fill the gap. The retailing giant filed an application to start selling tablets made in China that run Google’s Android software. No word on specs or pricing yet. Speaking of Google, the search giant is likely to be hit with a massive antitrust fine by the EU for the third time. After paying $8 billion in fines for misbehavior in mobile and online shopping, the next fine—coming next week—will relate to search advertising, the Financial Times reports.

Snapshot. On Wall Street, in addition to Oracle’s report that Adam discussed, Adobe said it revenue rose 25% to $2.6 billion but investors were disappointed by a light forecast for the upcoming quarter. Adobe shares, previously up 18% this year, lost 4% in premarket trading on Friday.

Off the hook. A Japanese court found Mark Karpelès, the head of defunct cryptocurrency exchange Mt. Gox, guilty on only one charge against him following the 2014 collapse of his business. Karpelès produced illegal business records but did not embezzle money or use his position for personal gain, and thus likely won’t face time in prison, the court ruled.

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