Oraclebeat estimates after the close on Tuesday, but investors proved to be tough to please.
Oracle’s earnings of 19 cents a share beat estimates by a penny, revenues of $3.08 billion topped $3.07 billion forecasts, and license revenues of $1.313 billion came in ahead of $1.31 billion estimates.
Database sales were strong, but analysts were hoping for stronger application results and new license growth. The stock slipped about 2% after hours.
Stocks rallied during the day on inflation data that wasn’t as bad as feared and soothing comments from Fed Chairman Alan Greenspan.
The Nasdaq gained 25 to 1995, the S&P 500 added 6 to 1132, and the Dow climbed 45 to 10,380. Volume rose to 1.35 billion shares on the NYSE, and 1.53 billion on the Nasdaq. Advancers led 25-7 on the NYSE, and 21-10 on the Nasdaq. Upside volume was 78% on the NYSE, and 79% on the Nasdaq. New highs-new lows were 85-31 on the NYSE, and 56-39 on the Nasdaq.
Gatewaysoared 20% after raising guidance.
Red Hatfell 9% on the resignation of its CFO.
Corningrose 5% after reaffirming guidance.
Symantecslipped on worries about competition from Microsoft.
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