The U.S. Department of Defense plans to terminate a plan to use Oracle (ORCL) software to manage its civilian workforce as part of the Pentagon’s cost-cutting efforts, reports Bloomberg, which quotes Defense Secretary Pete Hegseth as having said in a memo released last week that spending more on the HR software project “would be throwing more good taxpayer money after bad.” In 2020, Leidos (LDOS) said it would provide services and support for the initiative, with a total potential value of about $75M, the report noted.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ORCL:
- TD Synnex price target lowered to $125 from $148 at Barclays
- Trump ‘willing’ to lower tariffs on China to do TikTok deal, Reuters reports
- OpenAI Is Set to Close $40B SoftBank-Led Funding at $300B Valuation
- DA Davidson technology analysts hold an analyst/industry conference call
- TikTok framing itself as ‘savior’ of Americans in new ad campaign, NYT reports
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue