Will Oracle Corporation (NASDAQ:ORCL) buy Hawaiian airline
Oracle Corporation (NASDAQ:ORCL) is currently trading at $30.27 after up by 0.45% ($0.14). The stock traded during the day in the range from $30.03 to $30.44. Around 59.46 million shared were traded during the day which is higher than the average volume of 24.71 million shares calculated over 30 days.
The chief executive officer of Oracle Corporation, Larry Ellison has shown an interest in acquiring a second Hawaiian airline after buying most of the tropical land of Lanai last year. A Honolulu-based carrier, Island Air, with some of the island hopping planes was bought by Ellison this February. This event confirmed the discussion between the Island and the parent company of interisland of Hawaii, “go! Airlines”. Peter Forman the aviation historian of Hawaii said that the deals for Island Air to purchase “go! Airlines” will not only save more planes for Lanai, island of Ellison but also can indicate that Larry Ellison wants to become a player in the airline market of Hawaii. Another airline is expected by many industrial observers who say that the airline will come for the market of tourist rich interisland. This airline can enter Hawaii and compete with Hawaiian Airlines. Combining Island Air and go! Airlines can give a platform from which to compete and critical mass to Ellison.
There has been news that the shares of Oracle Corporation, after the quarterly sales, fell by nine percent but there is no reason to worry for the investors on the results because the fundamentals still remain intact. Oracle has also decided to transfer its stock listing to NYSE (New York Stock Exchange). This indicates the strength of NYSE brand. After listing on the NYSE, Oracle Corporation will be the largest market transfer. It will be the 48th company to transfer to NYSE during the past year.