Stocks Surge on Oracle, PeopleSoft Merger
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Investors welcomed the end of Oracle Corp.&#39;s 18-month battle to take over PeopleSoft Inc., pushing stocks higher Monday. A better-than-expected survey of retail sales also helped the markets.
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NEW YORK - Newly optimistic investors sent stocks sharply higher Friday, propelling the Dow Jones industrials up more than 100 points, after economic data showed strength in manufacturing and construction. Wall Street greeted the departure of PeopleSoft Inc.'s chief executive by buying up technology shares...
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REDWOOD SHORES, Calif. -- After months of wrangling, Oracle said Monday that it has signed a merger agreement to buy rival business software maker PeopleSoft.
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US software company Oracle reports a jump in profits after acquisitions boosted its sales of business products.
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LOS ANGELES (CBS.MW) -- Oracle shares jumped Wednesday morning after the corporate software giant&#39;s quarterly results narrowly outpaced expectations overnight, with strength at its core database operations offsetting declines in its applications business.
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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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Stocks rebounded on Wednesday, pushing the S&P 500 and the Nasdaq up more than 2 percent, after investors snapped up beaten down technology shares, while the energy sector benefited from a surge in oil prices.
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U.S. stocks surged on Tuesday, as  battered insurers rose on confidence a probe of the industry  would end quickly, helping blue chips snap a 5-day streak of  losses.
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US stocks rallied on Monday after software maker PeopleSoft Inc. (PSFT.O: Quote, Profile, Research) accepted rival Oracle Corp.&#39;s (ORCL.
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U.S. stocks soared on Wednesday, driving the Dow up more than 100 points and propelling it to an all-time high for the second day as positive momentum brought buyers into the market.
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U.S. stocks rose sharply on Tuesday, driving all three major stock indexes up more than 1 percent, as nearly a week of steep declines made shares' valuations look enticing to buyers.
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U.S. stocks surged on Tuesday, as  battered insurers rose on confidence a probe of the industry  would end quickly, helping the Dow break its 5-day streak of  losses to score its strongest one-day rally since early June.
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PeopleSoft Inc. shares surged 15 percent as investors interpreted the ouster of the company&#39;s chief executive as a sign the company might now be willing to accept Oracle Corp.
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U.S. stocks surged higher on  Wednesday, extending their rally for a fourth day as investors  bought beaten-down shares and pushed the Dow industrials index  above the 10,000 level for the first time in two weeks.
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Shares surged yesterday, pushing up the Dow Jones industrials by more than 100 points as a report that two companies are independently trying to buy Alcoa fueled hopes for a pickup in takeover activity.
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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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NEW YORK US stocks rose Monday after the software maker PeopleSoft accepted Oracle&#39;s buyout offer and data showed better-than-expected November retail sales, signaling an uptick in consumer spending.