Oracle bucked 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 PeopleSoft and JD Edwards
took 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.
Adobe plunged 12.3% after the company guided revenue estimates lower.
SCO Group soared 24% on optimism about a settlment with IBM
.
Amdocs rose for a second day on reports of a lucrative deal with Verizon
.
Intel lost 3.5% on a downgrade.
Cree plummeted 18.5% on legal concerns.
Netflix fell 12.4% on reports of insider selling.
NVIDIA fell 8% on concern that it could lose Xbox business to ATI
, which surged 6%.
Ameritrade gained 1.2% after raising guidance.
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