Oracle Rises, But Not Much Else

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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