Oracle Drops on Earnings Worries

Software

TSC Staff

05/10/01 - 01:34 PM EDT

Software giant Oracle (ORCL Quote) was dipping slightly after an analyst's report this morning that lowered estimates for its fourth quarter ending May 31. In recent trading, Oracle was off 42 cents, or 2.5%, to $16.64. At times in early trading, shares dropped as much as $2.

Investors have worried lately that the second-largest software firm would warn for the second consecutive quarter. A note by Salomon Smith Barney analyst Gretchen Teagarden Thursday dropped fourth-quarter estimates from 15 cents per share to 13 cents per share. Consensus estimates gathered by Thomson Financial/First Call are for the company to earn 15 cents per share.

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