Oraclebucked a sea of red on Friday, rising 1.1% on its first gain in sales of new software licenses in more than two years.
Oracle also beat earnings and revenue estimates with year-over-year earnings growth of 31%, fueled in part by cost-cutting, and revenue growth of 2.1%, and the company guided first-quarter earnings and revenue estimates in line with analysts’ estimates.
Oracle’s stock finished 4% off its highs for the day, as negative economic data and the company’s takeover and legal battle with PeopleSoftand JD Edwardstook its toll.
SAP, meanwhile, edged higher on speculation that it could benefit from the Oracle-PeopleSoft-JD Edwards war.
The broader market plunged on falling producer prices and consumer confidence, as the steady drumbeat of deflation fears and negative economic news finally took a toll.
The Nasdaq fell 27 to 1626, the S&P 500 lost 9 to 988, and the Dow declined 79 to 9117. Volume declined to 1.26 billion shares on the NYSE, but rose to 1.82 billion on the Nasdaq. Decliners led by 21-11 on the NYSE, and by 21-11 on the Nasdaq. Downside volume was 75% on the NYSE, and 80% on the Nasdaq. New highs-new lows were 301-10 on the NYSE, and 171-5 on the Nasdaq.
Adobeplunged 12.3% after the company guided revenue estimates lower.
SCO Groupsoared 24% on optimism about a settlment with IBM.
Amdocsrose for a second day on reports of a lucrative deal with Verizon.
Intellost 3.5% on a downgrade.
Creeplummeted 18.5% on legal concerns.
Netflixfell 12.4% on reports of insider selling.
NVIDIAfell 8% on concern that it could lose Xbox business to ATI, which surged 6%.
Ameritradegained 1.2% after raising guidance.
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