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Oracle share price rise indicates investor backing for Hurd

Simon Quicke

The move by former HP CEO Mark Hurd to Oracle might have unleashed law suits and anger from his former employer but it appears to have been backed by investors.

If the share price is an indicator of support then the rise in Oracle's share price by 6% since Hurd was unveiled as president and board director has been seen by analysts as an indication that investors are impressed by the appointment.

Last night HP made its displeasure with Oracle over the appointment of their former head honcho a legal matter filing a lawsuit in California against Hurd for breach of contract.

HP is naturally concerned that Hurd will share some of the information about the business he picked up in his few years at the vendor.

According to Reuters analysts and investors have seen the Hurd appointment as a positive move with the expectations that the former HP CEO will bring his skills to bear on the software giant.

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