MBIA and Bear Stearns offset Oracle's boost
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Wall Street stocks had a lacklustre day after MBIA (NYSE:MBI), a bond insurer, revealed billions of dollars in exposure to high-risk securities, causing its shares to drop as much as 30 per cent.
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Shares of software maker Oracle Corp.  rose as much as 8 percent in early trading on Wednesday, a day after the company posted strong quarterly profit fueled by steady demand for its flagship database products.
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US stocks rebounded strongly on Thursday after MBIA (NYSE:MBI) helped alleviate some of the concerns about troubled bond insurers at the end of the worst January for equities since 1990.
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Plus earnings from Bear Stearns, Research In Motion and Palm.
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US stocks rose on Monday after software maker PeopleSoft Inc. (PSFT.O: Quote, Profile, Research) accepted rival Oracle Corp.&#39;s (ORCL.
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Morgan Stanley, the second-biggest US securities firm, and Bear Stearns Cos. reported higher fiscal fourth-quarter earnings, boosted by gains in stock trading and investment banking.
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Oracle Corp. on Tuesday reported  a 16 percent rise in quarterly net income as the world's second  largest software company benefited from steady demand for its  flagship database software.
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US blue chips recovered ground on Friday as falling oil prices offset a profit warning from aluminum maker Alcoa Inc. (AA.N: Quote, Profile, Research) , while a tech rally was fueled by software maker Oracle Corp.
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Oracle on Tuesday announced a 16 percent increase in its first-quarter net income, attributing the gain to demand for its database software, Oracle Database 10g.
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U.S. stocks rose on Friday after robust results from software maker Oracle Corp  brightened the outlook for technology and helped the Dow and S&P 500 post their best weekly performance since March.
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Stocks rallied yesterday after the software maker PeopleSoft accepted Oracle&#39;s $10.3 billion sweetened buyout offer and other big deals fueled expectations for more takeovers.
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Stocks rose after Warren Buffett offered to help out troubled bond insurers, easing some of Wall Streetâs concerns about further deterioration in the credit markets.
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WASHINGTON - Bear Stearns Cos. , reeling from mortgage-related losses, shored up investor support by selling a stake to China's government-controlled Citic Securities Co. and gaining a foothold in the world's best-performing stock market.
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The Dow industrial average and the S&P 500 briefly turned higher as shares of JPMorgan Chase & Co  , the No. 3 U.S. bank, led a rebound in financial shares, while the Nasdaq pared losses.
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Morgan Stanley  and Bear Stearns Cos. Inc. , two of Wall Street's biggest securities firms, on Tuesday said their fourth-quarter profits rose as a flurry of mergers and a year-end stock rally boosted investment banking fees.
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And slaps $1.3bn on Q2 bottom line Database giant Oracle said yesterday that it saw earnings jump by 35 per cent in its second quarter buoyed by strong sales of software licenses.â¦
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Oracle, the world's second largest software producer, saw profits jump 16% to $509m (Â£283m) in the first half of the year on strong sales of its core database products.