Summary (from SeekingAlpha):
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Oracle reported the results of its fiscal Q1 Thursday evening. The results missed and the company guided down.
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At current levels the shares do not reflect many risks that have yet to be appreciated.
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The company has a cash flow that is built on an installed base whose longevity must be in question.
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The company is not replacing all of the customers it is losing in the transition to cloud.
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The company has seen upticks in operating expense that may reflect some issues that are as yet not clearly visible.