Oracle Stock Is Rising Thanks to a $7 Billion Defense Department Deal -- Barrons.com
Dow Jones2026/07/24 11:16By George Glover
Oracle stock was rising on Friday after the software company agreed a 10-year, near $7 billion contract with the U.S. Defense Department.
Shares climbed 2.9% to $123.48 ahead of the opening bell. Futures tracking the S&P 500 were 0.2% higher as oil prices dipped back below $100 a barrel, easing the market's worries about higher interest rates.
The agreement announced late Thursday will consolidate military departments' existing partnerships with Oracle into one bulk enterprise software deal.
The Defense Department said it expects to save taxpayers at least $441 million over the contract's life cycle.
Earnings from peer SAP were giving Oracle stock an extra boost. The German company's second-quarter results beat analysts' expectations, easing fears about the disruptive impact artificial intelligence is having on the software industry.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
July 24, 2026 07:16 ET (11:16 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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