Oracle lost ground Friday despite a strong earnings report, but at least the rest of the market bounced for a change.
Oracle’s earnings report included the company’s strongest database license growth in more than three years, and analysts were generally positive on the report. But after gapping up at the start of trading, investors decided to take profits the rest of the day.
Not so for the broader market, which started strong and ended stronger, ending a steep four-day sell-off.
The Nasdaq surged 40 to 1984, the S&P 500 gained 13 to 1120, and the Dow rose 111 to 10,240. Volume declined to 1.39 billion shares on the NYSE, and 1.71 billion on the Nasdaq. Advancers led 24-8 on the NYSE, and 23-7 on the Nasdaq. Upside volume was 87% on the NYSE, and 83% on the Nasdaq. New highs-new lows were 78-18 on the NYSE, and 62-10 on the Nasdaq.
University of Phoenix Online jumped 5% after beating estimates and raising guidance.
California Micro fell 15% on a warning.
Cisco gained 4% on network security plans.
Broadcom jumped 4% on an upgrade, and Dell
gained 3% on multiple upgrades.
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