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ORCL

Oracle

$48.23

0.21 (0.44%)

, RMNI

Rimini Street

$6.01

0.11 (1.86%)

18:26
08/14/18
08/14
18:26
08/14/18
18:26

Court grants Oracle's motion for permanent injunction against Rimini Street

For the second time, a Federal Court in Nevada granted Oracle's (ORCL) motion for a permanent injunction against Rimini Street (RMNI) for "years of infringement of Oracle's copyrights." In an opinion notable for its strong language condemning Rimini Street's actions, the Court made clear that since its inception, Rimini's business "was built entirely on its infringement of Oracle's copyrighted software," Oracle said in a press release. The Court also highlighted Rimini's "conscious disregard" for Oracle's copyrights and Rimini's "significant litigation misconduct" in granting Oracle's motion for its attorneys' fees to be paid, Oracle said. "The Court noted that it was Rimini's brazen misconduct that enabled it to "rapidly build" its infringing business, while at the same time irreparably damaging Oracle because Rimini's very business model "eroded the bonds and trust that Oracle has with its customers." It also stressed that for over five years of litigation, "literally up until trial", Rimini Street denied the allegations of infringement. At trial, however, Rimini CEO Seth Ravin, who was also a defendant, changed his story and admitted for the first time that Rimini Street did in fact engage in all the infringing activities that Oracle had identified," Oracle said. :Finally, the Court declared that over $28M in attorneys' fees should be awarded to Oracle because of Rimini Street's significant litigation misconduct in this action. Rimini comments to the market that this award would have to be returned to Rimini have proven to be false and misleading, like so many of its actions and assurances to customers and others."

ORCL

Oracle

$48.23

0.21 (0.44%)

RMNI

Rimini Street

$6.01

0.11 (1.86%)

ORCL Oracle
$48.23

0.21 (0.44%)

06/22/18
FBCO
06/22/18
NO CHANGE
Target $150
FBCO
Neutral
Red Hat results, guidance 'disappointing,' says Credit Suisse
Credit Suisse analyst Brad Zelnick maintained a Neutral rating and $150 price target on Red Hat (RHT) after the company's "disappointing" Q1 results and lowered FY19 guidance. Unlike recent disappointments in Oracle (ORCL), Adobe (ADBE) and Workday (WKDAY), Zelnick said he believes this event may be too difficult to dismiss as a "harbinger of deceleration in enterprise IT spend."
07/03/18
LEHM
07/03/18
NO CHANGE
Target $58
LEHM
Overweight
Oracle valuation remains attractive on fundamentals, says Barclays
Barclays analyst Raimo Lenschow, while acknowledging current investor skepticism for the name, says Oracle's current valuation remains attractive given its underlying fundamentals. The analyst believes, however, that Oracle "will remain in the penalty box in the near to mid-term" as investors digest the reporting structure changes and wait for additional metrics in lieu of the condensed financial reporting. Nonetheless, Lenschow continues to see upside in the shares and reiterates an Overweight rating with a $58 price target.
07/25/18
JEFF
07/25/18
NO CHANGE
Target $61
JEFF
Buy
Oracle EPS target cut at Jefferies on reduced license revenue
Jefferies analyst John DiFucci kept his Buy rating and $61 price target on Oracle but lowered his FY19 EPS target to $3.34 from $3.42. The analyst notes that he is updating his model based on the new ASC 606 accounting standard, and the changes in his valuation model are driven by modestly reduced license revenue due to the requirement to recognize declining term license upfront. DiFucci contends that this requirement translates negatively to the bottom line.
08/09/18
UBSW
08/09/18
NO CHANGE
Target $51
UBSW
Neutral
Oracle price target raised to $51 from $48 at UBS
UBS analyst Jennifer Lowe raised her price target on Oracle to $51 from $48 following the release of its Autonomous Database for transactional workloads. She believes this will likely be a focus for Oracle bulls and her channel checks have generally been positive on the product. The analyst remains cautious on the longer-term secular threats, but also sees the potential for positive product commentary. Lowe maintained her Neutral rating on Oracle shares.
RMNI Rimini Street
$6.01

0.11 (1.86%)

11/06/17
COWN
11/06/17
INITIATION
Target $13
COWN
Outperform
Rimini Street initiated with an Outperform at Cowen
Cowen analyst J. Derrick Wood initiated Rimini Street with an Outperform rating. The analyst sees the company as battle-tested and determined to drive an inflection of adoption in third-party software support services. He also sees a path for valuation to be unlocked as it improves liquidity, restructures debt, and reinvests to accelerate growth. Wood has a $13 price target on Rimini Street shares.
11/06/17
11/06/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. CarGurus (CARG) was initiated with a Sector Perform at RBC Capital, a Market Perform at Raymond James and JMP Securities, and a Neutral at Goldman Sachs. 2. OrthoPediatrics (KIDS) was initiated with a Buy at Stifel and BTIG while being initiated with an Overweight at Piper Jaffray. 3. Rimini Street (RMNI) initiated with an Outperform at Cowen. 4. Rigel Pharmaceuticals (RIGL) assumed with a Buy at H.C. Wainwright. 5. Great Elm Capital (GECC) initiated with a Neutral at Janney Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

AKAO

Achaogen

$1.80

0.06 (3.45%)

17:58
12/12/18
12/12
17:58
12/12/18
17:58
Hot Stocks
Breaking Hot Stocks news story on Achaogen »

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FLR

Fluor

$34.11

0.29 (0.86%)

17:56
12/12/18
12/12
17:56
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17:56
Hot Stocks
Fluor announces participation in $2.1B rail project in Chicago »

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FIVE

Five Below

$101.38

1.86 (1.87%)

17:55
12/12/18
12/12
17:55
12/12/18
17:55
Upgrade
Five Below rating change  »

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BTC

Bitcoin

$0.00

(0.00%)

, BITCOIN

Bitcoin

$0.00

(0.00%)

17:49
12/12/18
12/12
17:49
12/12/18
17:49
Hot Stocks
SEC says former execs behind allegedly fraudulent ICO settle scam charges »

Two former executives…

BTC

Bitcoin

$0.00

(0.00%)

BITCOIN

Bitcoin

$0.00

(0.00%)

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PK

Park Hotels & Resorts

$29.28

0.08 (0.27%)

17:44
12/12/18
12/12
17:44
12/12/18
17:44
Hot Stocks
Park Hotels & Resorts announces Q4 dividend of $1.00 per share »

Park Hotels & Resorts…

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PK

Park Hotels & Resorts

$29.28

0.08 (0.27%)

17:44
12/12/18
12/12
17:44
12/12/18
17:44
Hot Stocks
Park Hotels & Resorts announces Q4 dividend of $1.00 per share »

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CNP

CenterPoint Energy

$28.90

0.12 (0.42%)

17:37
12/12/18
12/12
17:37
12/12/18
17:37
Hot Stocks
CenterPoint Energy raises dividend 4% to 28.75c per share »

The company's board…

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UPLD

Upland Software

$27.47

0.51 (1.89%)

17:34
12/12/18
12/12
17:34
12/12/18
17:34
Syndicate
Breaking Syndicate news story on Upland Software »

Upland Software files…

03/08/13
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  • 19

    Dec

  • 20

    Dec

GNTY

Guaranty Bancshares

$29.78

0.13 (0.44%)

17:32
12/12/18
12/12
17:32
12/12/18
17:32
Syndicate
Breaking Syndicate news story on Guaranty Bancshares »

Guaranty Bancshares files…

03/08/13
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03/06/13
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BW

Babcock & Wilcox

$0.77

0.0569 (7.94%)

17:32
12/12/18
12/12
17:32
12/12/18
17:32
Hot Stocks
Babcock & Wilcox receives purchase orders for 11 industrial boilers in Q4 »

Babcock & Wilcox…

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GVA

Granite Construction

$42.75

0.4 (0.94%)

17:31
12/12/18
12/12
17:31
12/12/18
17:31
Hot Stocks
Granite Construction awarded $50M highway improvement contract in Nevada »

Granite has been awarded…

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GE

General Electric

$6.72

-0.05 (-0.74%)

17:17
12/12/18
12/12
17:17
12/12/18
17:17
Hot Stocks
General Electric awarded maximum $157.73M Defense Logistics Agency contract »

General Electric has been…

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DE

Deere

$148.16

1.17 (0.80%)

17:16
12/12/18
12/12
17:16
12/12/18
17:16
Hot Stocks
Deere reports rolling 3 month retail sales trends to November »

Deere reported that…

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XPO

XPO Logistics

$60.25

-6.42 (-9.63%)

17:10
12/12/18
12/12
17:10
12/12/18
17:10
Initiation
XPO Logistics initiated  »

XPO Logistics initiated…

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SAIA

Saia

$55.30

(0.00%)

17:09
12/12/18
12/12
17:09
12/12/18
17:09
Initiation
Saia initiated  »

Saia initiated with a Buy…

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  • 18

    Dec

  • 20

    Dec

JNJ

Johnson & Johnson

$147.18

0.66 (0.45%)

17:09
12/12/18
12/12
17:09
12/12/18
17:09
Periodicals
J&J said to be ready to pay more than $400M to settle hip cases, Bloomberg says »

Johnson & Johnson is…

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  • 12

    Dec

  • 12

    Dec

ECHO

Echo Global

$21.76

-0.44 (-1.98%)

17:08
12/12/18
12/12
17:08
12/12/18
17:08
Initiation
Echo Global initiated  »

Echo Global initiated…

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COOP

Mr. Cooper

$14.20

0.24 (1.72%)

17:08
12/12/18
12/12
17:08
12/12/18
17:08
Hot Stocks
Mr. Cooper names Christopher Marshall as new CFO »

On December 12, Mr.…

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ARCB

ArcBest

$36.49

0.42 (1.16%)

17:08
12/12/18
12/12
17:08
12/12/18
17:08
Initiation
ArcBest initiated  »

ArcBest initiated with a…

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LSTR

Landstar System

$96.61

-0.06 (-0.06%)

17:07
12/12/18
12/12
17:07
12/12/18
17:07
Initiation
Landstar System initiated  »

Landstar System initiated…

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R

Ryder

$51.17

0.08 (0.16%)

17:06
12/12/18
12/12
17:06
12/12/18
17:06
Initiation
Ryder initiated  »

Ryder initiated with a…

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  • 13

    Dec

SPXC

SPX Corporation

$27.51

0.43 (1.59%)

17:06
12/12/18
12/12
17:06
12/12/18
17:06
Hot Stocks
SPX Corporation to buy Carmanah marine/obstruction lighting business for $77M »

SPX Corporation announced…

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QTNA

Quantenna Communications

$14.92

0.11 (0.74%)

17:03
12/12/18
12/12
17:03
12/12/18
17:03
Hot Stocks
Quantenna further strengthens its strategic partnership with Telefonica »

Quantenna…

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  • 06

    Jan

WGO

Winnebago

$21.11

0.03 (0.14%)

17:01
12/12/18
12/12
17:01
12/12/18
17:01
Hot Stocks
Winnebago raises quarterly dividend to 11c from 10c per share »

The dividend is payable…

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  • 19

    Dec

LOW

Lowe's

$92.13

2.64 (2.95%)

16:52
12/12/18
12/12
16:52
12/12/18
16:52
Recommendations
Lowe's analyst commentary  »

Lowe's management…

03/08/13
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  • 12

    Dec

  • 27

    Feb

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