Jason Maynard News
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Mount Kellett Capital Management LP, the investment firm founded by two former Goldman Sachs Group Inc. executives, plans to raise a new fund matching the $4 billion gathered in 2012 by its last global special-situations vehicle, according to two people familiar with the matter.
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Oracle Corp. reported sales and profit that missed analysts’ estimates as corporate customers transitioning to Web-based programs bought less hardware and software. The shares fell the most since 2011.
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Wells Fargo & Co. hired Maynard Um, an analyst from UBS AG’s securities unit, to cover information- technology hardware companies including Apple Inc. and Hewlett- Packard Co.
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Oracle Corp. , the second-largest software maker, rose in Nasdaq trading after forecasting profit for this quarter that may top analysts’ predictions, a sign it’s benefiting from an acquisition-fueled expansion into hardware.
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The following are the day's top business stories:
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Oracle Corp ., the world’s top supplier of database software, forecast fourth-quarter profit that exceeded analysts’ predictions as companies stepped up spending on hardware and the programs needed to organize data.
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Microsoft Corp.’s push into cloud computing will help the company compete with Google Inc., Apple Inc. and Salesforce.com Inc. It also will hurt profit margins.
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Oracle Corp. reported fiscal second- quarter sales and profit that topped analysts’ estimates on growing demand for Internet-based software, which is now on track to bring in more than $1 billion in revenue this year.
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Dell Inc. plans more data-storage acquisitions following the $960 million purchase today of Compellent Technologies Inc. to strengthen its hand in the market against rivals Hewlett-Packard Co. and EMC Corp.
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SAP AG, the world’s top maker of business applications, will rely on software innovation rather than large acquisitions to vie with Oracle Corp. in the $2 trillion global corporate-technology market.
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