Oracle Acquires CEO Mark Hurd From HP

Oracle Corporation (NASDAQ: ORCL) has announced the acquiring of ex-HP CEO Mark Hurd upon the resignation of Charles Phillips, Goldman Sachs reports.

Goldman views Mark Hurd as a positive due to his experience selling storage and hardware systems, his position as a good fit with Oracle's M&A strategy, and believes that Oracle has the advantage of executive firepower as the company continues to pursue new areas of growth outside of its expertise.

JP Morgan currently has a Buy rating and $27 price target for Oracle Corporation, which closed yesterday at $22.92.