US Stock Market Move | Oracle Corporation (ORCL.US) plunged over 12% as capital expenditure exceeded expectations and a massive financing plan raised concerns.

On Thursday, Oracle Corporation (ORCL.US) plummeted more than 12%, closing at 176.80 US dollars. On the news front, Oracle Corporation announced its fourth quarter and full-year earnings for the period ending May 31, with higher-than-expected capital expenditure and a new financing plan causing concerns in the market. The company expects capital expenditure for the new fiscal year to be 70 billion US dollars. The free cash flow for this fiscal year was -23.7 billion US dollars. It is expected that the company will raise 40 billion US dollars through debt and equity financing in the new fiscal year, including the previously announced 20 billion US dollar stock issuance plan.