- Oracle (ORCL) shares fell over 3% to $141.22 in early trading Friday as the U.S. Department of Defense canceled its $280 million over-budget HR software plan for 900,000 civilian employees, Bloomberg News reported.
- The Pentagon’s cost-cutting move, driven by Trump and Elon Musk’s efficiency push, scrapped Oracle’s 2019 initiative and Leidos Holdings’ (LDOS) $75 million support contract from 2020, leaving both companies silent and Leidos shares down 2.2%.
- Despite Oracle’s $16…
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https://wallstreetpit.com/125575-us-defense-cost-cutting-puts-oracle-leidos-deals-at-risk/
