Oracle says hackers are trying to extort its customers
1. Oracle confirms threats against E-Business Suite customers. 2. Google issued initial warning about potential extortion emails.
FAQ
Why Bearish?
Concerns over customer security can diminish trust in Oracle's products, affecting sales. Historical data shows breaches often lead to a negative market response.
How important is it?
The incident raises cybersecurity issues, directly affecting Oracle’s market reputation and customer confidence. Given the increasing importance of data security, the impact is considerable.
Why Short Term?
Immediate customer concerns likely to influence Oracle’s sales, therefore impacting stock short-term. Similar incidents led to temporary price drops in firms like Equifax.