A third Google (GOOGL) exec has motored over to join Web-based ride-summoning service Uber, as the company that upended the taxi business develops its own transportation technologies and hires top talent in the process. Former Google Maps chief Brian McClendon will head Uber’s Advanced Technologies Center in Pittsburgh, directing Uber’s mapping, self-driving cars, and car safety programs, according to tech news site Re/Code. McClendon will be
Oracle’s (ORCL) fiscal Q4 earnings were not what investors had hoped, analysts say, but they see a ray of sunshine in improved cloud momentum. RBC Capital Markets analysts Ross MacMillan and Matthew Hedberg said in a research report Thursday that it’s “never easy to defend a revenue and EPS miss and guide lower, but we believe it’s happening for the right reasons as cloud bookings and billings accelerate.” RBC lowered its price target on Oracle
Fitbit (FIT) turned in one of the hottest IPOs of the year, with shares popping 50% as trading opened early Thursday. Fitbit priced shares at 20, above its expected range, and opened at 30 on the NYSE. In early trading, Fitbit stock was near 31. Fitbit set a record as the largest tech IPO this year, raising $732 million with its initial public offering that priced late Wednesday. The big opening price is a sign of investor confidence in the