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NetSuite (N) Stock Spikes on Oracle Deal, Q2 Earnings

NEW YORK (TheStreet) -- Shares of NetSuite (N) are spiking 18.04% to $108.09 on heavy trading volume Thursday afternoon after Oracle (ORCL) offered to purchase the cloud-based software services provider in a deal valued at $9.3 billion.

Oracle made an offer of $109 per share for NetSuite, representing a 19% premium to the stock's closing price on Wednesday.

The transaction is expected to close this year and be "immediately accretive" to Oracle's adjusted earnings thereafter.

Additionally, NetSuite reported adjusted earnings of 8 cents per...