Oracle At Highs Not Seen Since 2001 (ORCL)

Posted in pre-market 
December 18th, 2009

Oracle Corp. (NASDAQ: ORCL) rose on its earnings and is actually at 52-week highs if this level  holds.  The software giant beat earnings and revenue expectations.  Guidance was not stellar, but the company did talk about enterprise orders picking up consistently and sequential growth. Also noted was how it has continued to take market share from SAP (SAP) in all geographies; it also noted that it plans on closing the Sun Microsystems (JAVA) deal in the first quarter.  Last night the stock was up 4% at $23.80 on 3.2 million shares in the after-hours session.  This morning in pre-market trading we have shares up a bit more at +4.2% at $23.84 (have seen $23.91 this morning) on 910,000 shares as of 8:23 AM EST.  Anything above $23.46 that holds will mark a new 52-week high close today.  The high in August 2008 was $23.62 and $23.57 in June 2008… But then you have to go all the way back to FEB-2001 to get higher prices.

JON C. OGG

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