By Melodie Warner
Oracle Corp. (ORCL) is transferring its stock to the New York
Stock Exchange from the technology-heavy Nasdaq Stock Market,
becoming the fourth Nasdaq-100 company to transfer to the Big Board
during the past year.
"Oracle's decision to transfer to the New York Stock Exchange
validates the strength of the NYSE brand and our global leadership
across all sectors--including technology," said NYSE Euronext (NYX)
Chief Executive Duncan L. Niederauer.
With a global market capitalization of $156.4 billion, Oracle
will be the largest market transfer when it lists on the NYSE on
July 15.
Luring Oracle is a big win for the unit of NYSE Euronext after
its unsuccessful tussle last year to secure the listing of Facebook
Inc. (FB) and the loss of Kraft Foods Inc., a component of the Dow
Jones Industrial Average, to move to Nasdaq. Kraft had a market
value of $68 billion when it announced its shift from the Big
Board, and at the time was the biggest-ever U.S. listings
transfer.
Exchanges battle fiercely over listings, which bring listing
fees as well as revenue from trading the shares.
Oracle shares were trading 8% lower at $30.53 premarket. The
stock has climbed 19% over the past year.
-Jacob Bunge contributed to this report.
Write to Melodie Warner at melodie.warner@dowjones.com
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