Pros
Large, stable company. Good benefits and culture. Leadership communicates well and often. Even in a downer economy, Oracle is still producing good numbers for the Street. The flexible culture allows good hours and work from home or telecommuting. There's good lateral movement opportunities, and given how many companies Oracle buys, you have a decent chance to switch compentencies or area of expertise if you choose to go after it as such. Co-workers vary with the group you are in but are generally effective and smart. The area of growth now is Asia, and there are plenty of good opportunities there.
Cons
Can get lost in the size and employee pool. The management structure setup is highly complex and often I find groups of employees working on similar or relevant areas unaware. The knowledge share competency could be improved.