Reports about Oracle Corporation (NYSE:ORCL)’s charismatic founder and Chief Executive Officer Larry Ellison, who also happens to be the multi-billion dollar company’s first and only CEO until now, stepping down have been all over the news channels. eBay Inc (NASDAQ:EBAY) is also up for some structural changes in its senior management after its Senior Vice President and Chief Technology Officer Mark Carges announced his decision to resign from the company citing family matters about a week ago. CNBC’s Fast Money traders Timothy Seymour and Pete Najarian picked Oracle and eBay respectively as their first move on Monday on the channel’s Final Trade.
Seymour was a buy on Oracle Corporation (NYSE:ORCL) after the Redwood City based computer company dropped over 4 percentage points and closed at $39.80. He predicted that it would go over $40. “I’m a buyer back above $40, this is an opportunity,” said Seymour, founder of Triogem Asset Management and investments based media website EmergingMoney.com. Last Thursday, the company posted total revenue of $8.6 billion for the first quarter of the fiscal year 2015. Earnings per share were 62 cents which was 2 cents lower than market estimates.
Pete Najarian, options trader and co-founder of the website OptionMaster.com was all bullish on eBay Inc (NASDAQ:EBAY), which closed at $52.40 dropping by about half a percentage point. “Those options got me back in eBay, I love it,” he said. The San Jose based technology company is still recovering from the aftermath of a major data hack earlier this year. It also suffered the wrath of the Panda 4.0 update to Google Inc (NASDAQ:GOOGL)’s search results ranking algorithm. After the update was rolled out, eBay lost its hold on the search engine’s most valuable real estate among the top ten search results. But this fall might largely be due to eBay’s tactic of inserting any search term into an ad producing absurd results.
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