Oracle Fails to Inspire Tech Rally
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Oracle Corp. handed the software industry some positive earnings news after the bell on Tuesday, but investors pulled cash from the sector on concerns that information technology spending has become anemic.
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The company's strong operations don't excite the market.
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SAN FRANCISCO Sept. 15, 2004 - Oracle Corp. topped Wall Street&#39;s profit forecast, but the business software maker saw sales of its business applications software slide 36 percent with the reversal of that
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At its user conference yesterday, Oracle continued to send out mixed messages about how it will support PeopleSoft products if it succeeds in its $9.2bn (Â£4.8bn) takeover bid for its rival.
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SAN FRANCISCO - Business software maker Oracle Corp.'s quarterly earnings exceeded analyst expectations, overcoming sluggish sales in a product line that the company hopes to bolster by completing a long-sought takeover of rival PeopleSoft Inc.    The Redwood Shores-based company said Tuesday it earned $509 million, or 10 cents per share, during the three months ended in August, a 16 percent improvement from $440 million, or 8 cents per share, at the same time last year...
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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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InfoWorld - Oracle Corp.&#39;s launch of new releases of its five application families was a surprisingly sober affair, designed to restate the vendor&#39;s May 2006 pledge to continue to enhance all of the software products.
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InfoWorld - Robust software sales pushed Oracle's second-quarter net income up 35 percent compared to the same period last year, to $1.3 billion, or $0.25 per share, the company said Wednesday.
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WALL Street&#39;s broad market indicators ended nearly flat today after an early rally attempt ran out of steam, but tech stocks held on for solid gains.
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By Ryan Blitstein, San Jose Mercury News, Calif.  Dec. 18--Oracle earned $967 million during the second quarter, an  increase of 21 percent from the same quarter last year, the company said  today.
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Melding a hodgepodge of different software makers into a cohesive business is supposed to be difficult. But Oracle Corp. is making the task look easy as the Redwood Shores-based company churns out one impressive quarter after another, nearly three years into a $25-billion shopping spree that is yielding bigger dividends than many skeptical software analysts and executives anticipated.
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Robust software sales pushed Oracle&#39;s second-quarter net income up 35 percent compared to the same period last year, to $1.3 billion, or $0.25 per share, the company said Wednesday.Total revenue grew by 28 percent to $5.3 billion, Oracle said.Excluding one-time charges, Oracle&#39;s reported earnings per share were $0.31, beating forecasts of $0.27 per share from analysts polled by Thomson Financial.Oracle logged major gains in new license revenue for applications, which rose by 63 percent, and in database and middleware products, which logged a 28 percent increase. The company saw services-based revenue grow by 22 percent to $1.2 billion over last year.(More to follow.)
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Close those deals Oracle today learned that buying double-digit growth doesn't impress investors like it used to.â¦
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After 18 months of rancor, Oracle makes PeopleSoft an offer it can't refuse.  Also: IBM, AMD find ways to boost the performance of silicon chips & hellip;.  Survey ranks the most IT savvy countries; U.S. slips to 7th place & hellip;. and more.
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U.S. stocks were little changed on Wednesday as investors paused after two days of strong gains, while worries about the outlook for software companies, including Oracle Corp. , weighed on technology shares.
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The company has no further expansion plans after buying a Chinese website. Also: Virgin joins quest for a better iPod & hellip;. PeopleSoft makes promise that Oracle will live up to & hellip;. and more.
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the continuing brouhaha between Oracle (Nasdaq: ORCL) and PeopleSoft (Nasdaq: PSFT) being a notable exception. South Africa&#39;s Harmony