(Reuters) - Shares of Oracle Corp, the world's No. 3 software maker, rose 4 percent to their highest in 19 months on Wednesday after it forecast strong sales for next year, prompting several brokerages to raise their price targets on the stock.
President Donald Trump said he approved a deal on Saturday that will see the creation of a U.S.-headquartered firm called TikTok Global with Oracle and Walmart taking minority stakes. Oracle will become TikTok's secure cloud provider and host U.S. user data.
TikTok rejected Microsoft bid. They will make a partnership with Oracle to appease the demands of Donald Trump's administration.
In the ongoing saga between TikTok and the US, it seems that Microsoft and Oracle are now out of contention. Here's what to know.
