Market Chatter: Oracle, Leidos' Contract to Be Terminated by US Defense Department
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Oracle's contract with the US Department of Defense, supported by Leidos, will be terminated due to cost-cutting measures. The program is reported to be six years delayed and over $280 million over budget. The department has 60 days to devise a new plan for HR technology operations. Shares of Oracle and Leidos fell by 2.4% and 3.6%, respectively, in premarket trading.
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