Shares of Oracletumbled 8% Friday after the company’s sales weren’t quite up to Wall Street’s expectations.
Oracle’s quarterly earnings were in line with estimates, but revenues and software license sales came in below expectations, and the company forecast November quarter sales that were also below analysts’ estimates.
Also taking a hit on Friday were shares of Palm, which plunged 18% after the company offered an earnings forecast that was below Wall Street estimates.
The broader market finished mixed as Hurricane Rita weakened further to a Category 3 storm shortly before it was expected to hit the Gulf Coast. Oil prices tumbled on the news, but a warning from Alcoaheld back the Dow.
The Nasdaq rose 6 to 2116, the S&P edged higher to 1215, and the Dow slipped 2 to 10,419. Volume declined to 1.97 billion shares on the NYSE, and 1.63 billion on the Nasdaq. Decliners led 17-15 on the NYSE, and 18-11 on the Nasdaq. Upside volume was 56% on the NYSE, and 60% on the Nasdaq. New highs-new lows were 86-122 on the NYSE, and 104-95 on the Nasdaq.
3Comgained 10% on a narrowing loss.
JDS Uniphasejumped 11% on plans for a reverse split.