| NEW YORK, June 20
NEW YORK, June 20 Oracle Corp said on
Thursday it was moving its stock listing to the New York Stock
Exchange from Nasdaq OMX Group's main U.S. exchange, a
major coup for NYSE Euronext, as it lands the
largest-ever U.S. market transfer.
Oracle, which has a market capitalization of around $160.6
billion, announced the move in an earnings statement, saying the
directors of the world's No. 3 software maker determined the
move "would be in the best interests of its stockholders,
customers and partners."
Oracle expects to begin trading on the NYSE on July 15 and
in the meantime will continue to trade on the Nasdaq, where it
is the fourth-largest stock in the Nasdaq 100 Index.
"We wish them well in the future," said Nasdaq spokesman Joe
Christinat. "Nasdaq offers a low-cost value proposition that has
delivered one of the most liquid stocks in the world, Oracle,
which grew nearly 10,000 percent while listed on the Nasdaq."
The NYSE declined to comment.
Traditionally, Nasdaq had a lock on technology company
listings, and NYSE on blue-chip stocks, but both have made gains
into each others' respective territories in recent years.
The turf war for marquee tech names heated up last year
ahead of Facebook Inc's long-awaited market debut, with
the chief executives of both exchanges reportedly flying to
California to woo the management of the social network.
Last June, Kraft Foods moved to Nasdaq from the
NYSE in what was, until Oracle's announcement, the biggest
company to ever switch exchanges, with a market cap at the time
of $68 billion. Other big wins for Nasdaq have included Texas
Instruments Inc, Western Digital Corp and Analog
Companies that have switched to the NYSE from Nasdaq include
Monster Worldwide, Infosys, and Charles Schwab