Oracle Set to Switch From NASDAQ to NYSE

by Christopher Freeburn | June 21, 2013 9:43 am

NYSE facade american flag 630 flickr 300x225 Oracle Set to Switch From NASDAQ to NYSE[1]In a big with for NYSE Euronext¬†(NYX[2]), one of Nasdaq OMX Group’s (NDAQ[3]) leading tech names is jumping to the Big Board[4].

On Thursday, Oracle (ORCL[5]) filed documents with regulators indicating that it has applied for listing on the New York Stock Exchange. The software giant, which has a market capitalization of $156.4 billion, has been listed on Nasdaq since 1986, the New York Times notes.

If the NYSE approves the switch, Oracle is expected to begin trading on the exchange on July 15. It will retain its current ticker symbol.

Oracle’s move represents on of the largest defections between the rival exchanges. The NYSE has been looking to attract more technology leaders.

Eight companies have moved from Nasdaq to the NYSE this year, while at least one has moved in the other direction. The NYSE is also leading NASDAQ in initial public offerings[6].

Word of Oracle’s switch came as the company reported EPS of 80 cents for its fiscal fourth quarter, disappointing analysts who were expecting 87 cents.

Shares of Oracle plunged more than 8% in Friday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/07/NYSE_facade_american_flag_630_flickr.jpg
  2. NYX: http://studio-5.financialcontent.com/investplace/quote?Symbol=NYX
  3. NDAQ: http://studio-5.financialcontent.com/investplace/quote?Symbol=NDAQ
  4. is jumping to the Big Board: http://dealbook.nytimes.com/2013/06/20/oracle-to-leave-nasdaq-for-the-big-board/?_r=0
  5. ORCL: http://studio-5.financialcontent.com/investplace/quote?Symbol=ORCL
  6. in initial public offerings: http://investorplace.com/ipo-playbook/nyse-clubbing-nasdaq-in-the-ipo-fight/

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