Evercore ISI analyst Kirk Materne upgraded Oracle to Buy from Hold and kept his $44 price target on shares. Materne believes Oracle's risk/reward is more attractive heading into 2016 as valuation now reflects a higher degree of skepticism related the the Database business and ahead of the Cloud business reaching a tipping point in FY17 when sub revenue growth becomes greater than license declines. The analyst expects shares to re-rate over the next few quarters as earnings estimates bottom and sees an opportunity for shares to rebound from an already discounted valuation.

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Vertex (VERX) announced that it has been selected to join the Oracle Independent Software Vendor, ISV, Accelerator for SaaS Initiative. With expertise in Oracle (ORCL) Cloud Fusion Cloud Applications integrations, Vertex continues to leverage the power of contract and tax data to optimize customer operations and outcomes. "Building on our longstanding relationship with Oracle, we are thrilled to join the Oracle ISV Accelerator," said Bradd Wildstein, Vice President, Indirect Sales at Vertex, Inc. "Through this partnership, Vertex can now enhance our customers' finance and sales processes by integrating essential tax solutions into Oracle Fusion Applications. It's more than just data integration - it's about unifying disparate functions, streamlining operations, and amplifying benefits for our mutual customers."

Oracle Chairman Larry Ellison said the company is moving its world headquarters to Nashville, Tennessee, Ashley Capoot of CNBC reports. Ellison said Oracle is moving to a "huge campus" and it is closer to "the center of the industry we're most concerned about, which is the health-care industry." Reference Link