Jefferies, which is one of the Oracle bears with a hold rating and $32 price target on the stock, said its recent channel checks are pointing toward an in-line quarter.
"Our most recent field work suggests F1Q13 biz trends continued to be mixed, as integrated systems picked up steam (Exadata and ODA), software was in-line, and commodity hardware continued to deteriorate," the firm said. "The deal activity we heard of was mostly transactional, which is to be expected for a F1Q. We think there was some modest impact in the Q from typical sales reorganization efforts, although we don't think these were unusual and should be resolved by the end of F2Q13. Our F1Q13 ests are in-line with consensus and assume a result in-line w/ historic seasonality."
Check out TheStreet's quote page for Oracle for year-to-date share performance, analyst ratings, earnings estimates and much more.
Elsewhere on the earnings docket, the morning reports include
In addition, to Oracle, the late roster features
Thursday's economic calendar includes weekly initial and continuing jobless claims at 8:30 a.m. ET; the Philadelphia Fed regional manufacturing activity survey for September at 10 a.m. ET; and leading indicators for August at 10 a.m. ET.
And finally, shares of
Bed, Bath & Beyond
(BBBY - Get Report)
were lower in late trades after the Union, N.J. home products retailer missed Wall Street's earnings expectations with its second-quarter results. The company posted earnings of $224.3 million, or 98 cents a share, for the three months ended in August, missing the average estimate of analysts polled by
for a profit of $1.02 a share.
The stock was last quoted at $65.06, down 5.4%, on volume of more than 900,000, according to
(ADBE - Get Report)
late Wednesday after its quarterly report. The publishing and design software developer posted an in-line profit for its fiscal third quarter but revenue of $1.081 billion was below the consensus view of $1.103 billion.
For its fourth quarter ending in November, Adobe forecast non-GAAP earnings of 53 to 58 cents a share, far short of the average analysts' view for a profit of 67 cents a share. The stock traded as low as $30.16 in after-hours action, a decline of roughly 9%, but was bouncing back close to the flat line.
Written by Michael Baron in New York.
>To contact the writer of this article, click here:
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts