While the financial markets bled on Thursday, with the Nasdaq falling more than 2.4 percent, shares of Oracle (Nasdaq: ORCL) were strong, gaining 7/16 to 38-1/8.
On Wednesday, Oracle announced it will make a big push into the business-to-business e-commerce software market later this year with a new online procurement service known as Oracle Exchange. Oracle says that purchasing-related content and services from more than 260 companies will be available via Oracle Exchange. This new venture puts Oracle in direct competition with high-flying Internet companies such as Ariba and Commerce One, which are trading at much higher multiples.
You have to like Oracle’s chances in the market, especially when you consider that Oracle’s technology powers e-commerce powerhouses like Amazon.com, eBay and Dell.