Software giant, Oracle (NYSE: ORCL), is reportedly in talks to buy TikTok’s US operations from ByteDance
Software giant, Oracle (NYSE: ORCL), is reportedly in talks to buy TikTok’s US operations from ByteDance. Oracle’s interest challenges Microsoft (NASDAQ: MSFT), which has also been working to acquire TikTok. Oracle is working with venture capital firms like General Atlantic and Sequoia Capital to see the deal through. Oracle does not have a social media or video business, so a TikTok acquisition would spark some novelty in the company. Click here to read more
Rackspace’s (NASDAQ: RXT) stock climbed over 15% on Monday, following a report that Amazon was interested in acquiring a minority stake in the cloud services company. Trading on the stock was halted for a short while due to volatility. Rackspace helps companies shift their data to cloud services, such as Amazon Web Services, Microsoft’s (NASDAQ: MSFT) Azure Cloud and Alphabet’s (NASDAQ: GOOG) Google Cloud. Click here to read more
Yesterday, Cruise operator Carnival Corp (NYSE: CCL), said that it opened an investigation into a ransomware attack on one of its IT systems. The company did not disclose the affected brand but stated that the attack included unauthorised access to personal data of guests and employees. The attack on the company’s IT systems compounds the hardship that it has been dealing with due to the Covid-19 pandemic. Click here to read more
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Here are the biggest movers in pre-market trading
1. Tesla shares reached a record high of $1,800 for no apparent reason. Click here to read more
2. Uber’s food delivery business will continue even if its rides business is shut down in California. Click here to read more
3. Apple says it won’t make an exception on its App Store for Epic Games. Click here to read more
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