Ellison Cancels $7.5B Oracle Stock Sale Plan

Larry Ellison cancelled a Rule 10b5-1 trading plan that would have allowed him to sell up to 50 million Oracle shares by October 24. The plan, adopted June 22, was disclosed on a Wednesday and cancelled the next day with no stock sold. Oracle shares had fallen 16% since the plan's adoption, and the company recently reported shrinking gross margins and raised the cost of its job cuts to $2.8 billion.