RealTime IT News

Oracle Delivers

Investors were expecting good things from Oracle's fiscal fourth-quarter earnings, and the company delivered.

Oracle beat earnings and revenue estimates after the close on Thursday, with year-over-year earnings growth of 31% and revenue growth of 2.1%.

More importantly, sales of new software licenses rose for the first time in more than two years.

Oracle also guided first-quarter earnings and revenue estimates in line with analysts' estimates.

Oracle's stock rose after hours on the news, capping a tumultuous day in which PeopleSoft formally rejected Oracle's hostile takeover bid. Also after the bell, JD Edwards , which is being acquired by PeopleSoft, sued Oracle for allegedly trying to disrupt the merger.

Adobe also beat estimates after the bell, but the stock fell sharply after the company guided revenue estimates lower.

The broader market climbed during the day on lukewarm jobless claims and retail sales, as expectations have increased for a Federal Reserve rate cut of as much as 50 basis points in two weeks.

The Nasdaq rose 7 to 1653, the S&P 500 climbed 1 to 998, and the Dow added 13 to 9196. Volume rose to 1.53 billion shares on the NYSE, but declined to 1.8 billion on the Nasdaq. Advancers led by 19-13 on the NYSE, and by 16-15 on the Nasdaq. Upside volume was 51% on the NYSE, and 59% on the Nasdaq. New highs-new lows were 464-4 on the NYSE, and 259-4 on the Nasdaq.

AMD soared 7.6% on its latest battle with Intel .

eBay rose 1.7% after acquiring a Chinese shopping site.

SCO Group climbed 4.6% as Friday's deadline for a settlement with IBM approached.

3Com rose 1.1% on news of layoffs.

Sun gained 3% amid skepticism of its Web services strategy.

And the Semiconductor Industry Association issued a bullish chip forecast.

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