The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
NetSuite shares rose about 18 percent to $108.05 in morning trading, just shy of the offer price of $109 in cash per share.
Oracle shares were up slightly to $41.01.
"It's definitely pricey from Oracle's perspective, but it's understandable and it's justifiable especially in this environment, when we've seen software-as-a-service companies go as high as 10, 11, 12 times sales," said Morningstar analyst Rodney Nelson.
Oracle and NetSuite both offer software applications that help companies automate back end and administrative operations from technology to human resources.
Oracle's cloud business, which stores enterprise software and data on remote servers, lets the company sell to clients who lack the budget for on-site hardware and technology staff.
The deal could also help Oracle, which is aggressively trying to build and sell more cloud-based business software, play catch up with competitors such as Workday and Salesforce.com that specialize in cloud-based offerings.
Jefferies analysts said in a note the deal provides an immediate, significant entry into the mid-market for corporate applications, but also said "the price paid seems steep."
Oracle has also acquired companies such as Textura and Opower to increase its competitiveness in the cloud market.
The company expects the deal to add to its adjusted earnings in the first full fiscal year after it closes.
NetSuite on Thursday reported strong second second-quarter results, with revenue up 30 percent to $230.8 million and adjusted net income that beat estimates.
Oracle Executive Chairman Larry Ellison and his family owned around 40 percent of NetSuite's shares, according to a regulatory filing from NetSuite. Oracle said the deal was led by a committee of independent directors.
NetSuite, founded in 1998, pioneered cloud computing by creating the first company dedicated to providing business applications over the internet, Oracle said. NetSuite's chief executive, Zach Nelson, was responsible for Oracle's global marketing from 1996 to 1998.
In June, Oracle said that revenue from its cloud-computing software and platform service accounted for 8 percent of overall revenue.