Shares of Oracle Corporation (NYSE:ORCL) ended Thursday session in red amid volatile trading. The shares closed down -0.09 points or -0.22% at $41.22 with 9.69 million shares getting traded. Post opening the session at $41.27, the shares hit an intraday low of $41.09 and an intraday high of $41.32 and the price vacillated in this range throughout the day. The company has a market cap of $169.94 billion and the numbers of outstanding shares have been calculated to be 4.12 billion shares.
On Aug. 8, 2016 Asahi Refining, the world’s leading provider of precious metal assaying, refining, and bullion products, selected Oracle Cloud Applications and Oracle Cloud Platform to streamline its procurement and financial processes to get a more comprehensive and accurate picture of its financials to provide better visibility into the business. By moving to the cloud, Asahi Refining has been able to shift its full attention to its core business of refining gold and silver and accelerate business growth.
The ongoing digitization of the refining industry means that organizations need an integrated financial platform to leverage data insights that can help evolve their business models and retain their competitive advantage. To address this market shift, Asahi Refining needed to overhaul its legacy enterprise resource planning (ERP) system, which was difficult to maintain, had limited reporting capabilities and contained fragmented data spread across various silos. The company needed a modern, integrated system to gain the insights needed for swift approvals and decision making.
“In order to update our outdated and over-extended IT infrastructure, we needed to move our financials to a centralized and secure environment,” said Kevin Braddy, IT director, Asahi Refining. “The Oracle ERP Cloud gives us real-time visibility into finance operations across the company and helps drive efficiencies across our financial processes. With this accurate financial information easily at hand, we are able to focus on growing our business.”
Shares of EMC Corporation (NYSE:EMC) closed at $28.99 with 43.36 million shares getting traded. Post opening the session at $28.88, the shares hit an intraday low of $28.86 and an intraday high of $29.00 and the price vacillated in this range throughout the day. The company has a market cap of $57.36 billion and the numbers of outstanding shares have been calculated to be 1.96 billion shares.
On August 30, 2016 Dell Inc. and EMC Corp. (EMC) announced that they intend to close the transaction to combine Dell and EMC on Wednesday, September 7, 2016. Dell Technologies, the name of the new combined company, will begin operating immediately following the close of the transaction.
Announcement follows regulatory approval of the Dell and EMC transaction by China’s Ministry of Commerce (MOFCOM), which has granted clearance for the companies’ proposed combination. MOFCOM approval was the final regulatory condition to closing the transaction. EMC shareholders approved the transaction on July 19, with approximately 98 percent of voting EMC shareholders casting their votes in favor of the merger, representing approximately 74 percent of EMC’s outstanding common stock.
“This is an historic moment for both Dell and EMC. Combined, we will be exceptionally well-positioned for growth in the most strategic areas of next generation IT including digital transformation, software-defined data center, converged infrastructure, hybrid cloud, mobile and security,” said Michael Dell, chairman and CEO of Dell Technologies. “Our investments in R&D and innovation, along with our 140,000 team members around the world, will give us unmatched scale, strength and flexibility, deepening our relationships with customers of all sizes.”
“I am proud of everything we’ve built at EMC – from humble beginnings as a Boston-based startup to a global, world-class technology company with an unyielding dedication to our customers,” said Joe Tucci, chairman and chief executive officer of EMC. “The combination of Dell and EMC creates a new powerhouse in the industry – providing the essential technology for the next era in IT.”