Stocks drop on Oracle's view and rate concerns
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U.S. stocks fell on Wednesday as concerns about the outlook for software maker Oracle Corp.  hit technology shares and investors worried that stronger-than-expected job growth could delay a cut in interest rates.
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Stocks fell on Tuesday after disappointing earnings from Procter & Gamble and U.S. Steel and a Wall Street Journal article that cast doubt on the chances for a Federal Reserve interest rate cut on Wednesday.
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The Dow and S&P stock gauges fell on Tuesday after disappointing quarterly results from Procter & Gamble and U.S. Steel hurt confidence about the outlook for earnings, while a Wall Street Journal article raised doubt the Federal Reserve would cut interest rates this week.
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Stocks fell on Wednesday, with both   the Nasdaq and S&P 500 earlier dropping more than 1 percent, as   Intel Corp. INTC.O dragged other tech issues lower and   surging U.S. labor costs renewed inflation concerns.
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SAN FRANCISCO - Oracle Corp. topped Wall Street's profit forecast, but the business software maker saw sales of its business applications software slide 36 percent - with the reversal of that slump a key goal behind Oracle's tenacious pursuit of rival PeopleSoft Inc...
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Stocks fell on Tuesday as a sharp drop  in U.S. consumer confidence in August stirred fresh doubt about  the economy and analysts lowered revenue forecasts for  technology bellwether Intel Corp. INTC.O
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U.S. stocks fell on Thursday as  investors took a breath after yesterday's broad-based rally and  a decision by China's central bank to raise interest rates for  the first time in nine years hit shares of companies that have  benefited from its rapid growth.
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U.S. blue-chip stocks fell on Wednesday after stronger-than-expected inflation data dimmed hopes for an interest-rate cut and computer maker Hewlett-Packard Co.  failed to impress investors with its latest earnings report.
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(InfoWorld) - The tech-heavy Nasdaq has been climbing recently, spurred by some of the usual suspects, such as Google. But Oracle results and prospects for chip makers also inspired confidence among IT investors this week. Expectations have not been great this year for mature areas of the enterprise software market. But Oracle inspired IT investors this week with aÂ strong financial reportÂ that indicates its acquisition strategy has been paying off. Quarterly revenue rose 20 percent to $5.8 billion and profit increased 23 percent to $1.6 billion. Excluding extraordinary charges, Oracle's $0.37 per share in the quarter beat estimates by analysts polled by Thomson Financial, who had forecast $0.35 per share. Oracle shares jumped $0.53 to close at $19.69 on Wednesday, a day after the earnings report, and continued strong. Over the last three years, including theÂ PeopleSoft deal, Oracle has made about 30 purchases for approximately $25 billion. For example, business intelligence software maker Hyperion,Â a recent acquisition, added $43 million to Oracle's new license revenue in the quarter. Oracle is now going after companies that will help the company target sales in vertical markets. On the post-earnings report conference call with analysts, CEO Larry Ellison said that Oracle will continue its acquisition strategy. Meanwhile, Google continues to break records and expectations. Brokerages, including Oppenheimer & Co., Sanford C. Bernstein & Co., and JMP Securities,Â issued bullish analysis reports this weekÂ and raised share-price targets after seeing the company's share price rise about 15 percent over the last quarter. As Google continues to dominate search advertising, however, it has also spent lavishly on R&D, technology infrastructure and acquisitions. Though profit has been great, the spending has sparked some debate. But this week, JMP's Bill Morrison added a new twist to conventional thinking, writing in a research report that the capital expenditures have given Google a cost-efficient technology platform. This platform gives Google an ongoing cost advantage over competitors, he said. After the report, Google shares hit their highest close on Tuesday since the company's 2004 IPO, although they drifted down over the next few days. In the chip sector, a price war between Intel and AMD, coupled with expectations for a soft PC market this year, has caused concern. But some new reports and forecasts have cheered investors lately. Lehman Brothers raised its rating on Intel this week to "overweight" from "equal weight." Lehman analyst Tim Luke cited new product cycles, progress on restructuring, and a reasonable share valuation. The report echoed a similar research paper issued by brokerage Stifel Nicolaus and Co. last week, only that one was directed at AMD. Meanwhile, GartnerÂ said this week that worldwide personal computer shipments are projected to rise 11.1 percent in 2007, higher than previously expected. PC shipments are estimated to increase to 257.1 million from 231.5 million a year earlier as sales in emerging markets grow, Gartner said, in the wake of a similar report several weeks ago from IDC. The news caused shares of Intel and AMD to spike. Intel shares closed at $23.79 Wednesday, up by $0.41, and continued strong Thursday. AMD also spiked on Wednesday, though lost some ground later in the week.
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Stocks fell on Monday as investors  worried about higher oil prices and warnings of lower company  earnings and delayed decisions before Tuesday's meeting of the  Federal Reserve on interest rates.
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BEA Systems Inc  shares fell 4  percent on Tuesday on concerns a $6.7 billion takeover bid by  Oracle Corp  will fall through after both sides refused  to budge from their positions.
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U.S. shares are expected to fall on  Thursday as investors wrestle with worries about inflation,  interest rates and economic growth, with economically sensitive  sectors such as technology likely to be hurt again.
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U.S. stocks fell on Tuesday after news of the sharpest rise in producer prices in 32 years and disappointing financial results from tech bellwether Oracle and Circuit City, a leading electronics retailer.
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U.S. stocks fell on Thursday, with the  Nasdaq sliding more than 1 percent, as a larger-than-expected  drop in an economic forecasting gauge renewed concern about  slower growth ahead.
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Stocks fell on Wednesday as data showed higher-than-expected inflation in January and shares of Hewlett-Packard Co.  fell a day after the technology bellwether reported financial results.
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U.S. stocks slipped on Tuesday as disappointing results from software maker Oracle Corp.  hurt technology stocks, and an unexpected quarterly loss from electronics retailer Circuit City  renewed fears about consumer spending during the holiday shopping season.
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U.S. stocks fell on Friday after Microsoft Corp.  tempered revenue expectations for the Vista computer operating system.