Oracle’s stock falls toward record-long losing streak in wake of Cerner buyout deal


Shares of Oracle Corp.
ORCL,
-0.91%

slipped 0.3% in afternoon buying and selling Friday, placing them on observe to increase their losing streak to 11 classes. That can be the longest such streak since Oracle went public in March 1986, in accordance with Dow Jones Market Data. The database large’s stock has now tumbled 15.3% because it final gained floor, when it rose 3.8% on Dec. 15 to shut at a document $103.65. Highlighting the losing streak was the 11.2% drop in two days to Dec. 20, after The Wall Street Journal reported, and Oracle confirmed, that it agreed to buy medical-records company Cerner Corp.
CERN,
-0.29%

in a deal valued at $28.Three billion. Despite the record-long losing streak, Oracle’s stock has nonetheless run up 35.7% this yr, whereas the SPDR Technology Select Sector ETF
XLK,
-0.49%

has climbed 34.1% and the S&P 500
SPX,
-0.26%

has superior 27.3%.



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