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Oracle slumps on cloud computing worries

September 16, 2017 at 7:00PM
FILE-- A Dow chemical refinery in Oyster Creek, Texas, Jan. 28, 2015. DuPont and Dow Chemical, with more than three centuries of history between them, said Dec. 11, 2015, they had agreed to merge, in one of the biggest deals of the year. The combined company would be known as DowDuPont. Once combined, they plan to split into three separate companies, consisting of agricultural chemicals, specialty products and materials, like plastics. (Michael Stravato/The New York Times)
DowDuPont rose to $68.52 after announcing changes. Dow refinery in Oyster Creek, Texas, above. (The Minnesota Star Tribune)

Cloudy forecast: Oracle shares dropped 8 percent to $48.74 Friday despite better than expected earnings as analysts expressed concern about forecasts for its cloud ­computing business.

Irma relief: Royal Caribbean Cruises rose 3 percent to $121 Monday after Hurricane Irma didn't turn out to be as destructive as many had feared. Royal Caribbean shares closed Friday at $120.92. Insurers also rebounded, led by Chubb, which rose 3.2 percent to $145.58 Monday and closed the week at $143.51.

Jilted: Hard drive maker Western Digital slumped 5.2 percent, to $84.15 after its partner Toshiba said it will sell its computer memory business to a consortium led by Bain Capital Private Equity. Western Digital wants to buy that business. Shares closed the week at $88.52.

On sale? Department store chain Nordstrom climbed 6 percent Wednesday to $47.74 after reports that the Nordstrom family is close to a deal to take the company private. The stock closed Friday at $46.74.

If they can make it there: Medicaid coverage provider Centene's shares rose 6.6 percent to $96.90 Wednesday after it said it will expand into New York through a $3.75 billion acquisition of Fidelis Care. Centene shares closed Friday at $95.98.

New formula: DowDuPont rose 2.5 percent to $68.52 Tuesday after announcing some changes to its breakup plan that activists had sought, including moving $8 billion in businesses from the materials science division to the specialty products division. Shares closed Friday at $69.86.

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