Oracle falls after report that Amazon, Salesforce are developing own databases
Oracle Corp. shares declined Tuesday after a report that Amazon.com Inc. and Salesforce.com Inc. are looking to end their respective deals for Oracle database software. The Information reported that Amazon and Salesforce are both developing their own internal solutions that will allow them to stop using Oracle's ubiquitous database offering, according to anonymous sources. While Amazon and Salesforce are customers of Oracle, they are rivals as well, especially with Amazon moving more into enterprise software through its Amazon Web Services segment, and Oracle co-founder Larry Ellison has targeted both in barbed comments, with Amazon in special focus as of late. The Information reported that Salesforce's internal database was code-named "Sayonara," Japanese for goodbye, and that Amazon called one of its database products "RedShift" in reference to Oracle. Oracle stock was trading about 1% higher Tuesday morning before the report hit, but shares dropped to a daily loss of about 0.7% after the news hit.
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