Oracle's Earnings Power Past Estimates in After-Hours Report

SAN FRANCISCO -- After the close, software maker Oracle (ORCL Quote) reported earnings of $527 million, or 36 cents a share, for its fiscal fourth quarter, up from 27 cents reported last year. Analysts surveyed by First Call expected earnings of 32 cents a share. Sales rose 22% to $2.9 billion. Ahead of the report, Oracle stock closed down 1 5/16, or 5%, at 25 1/8.

It was a mostly positive day for the technology sector and beleaguered Internet stocks, though price action certainly indicated a lack of conviction.

The Nasdaq closed up around 16 points, while TheStreet.com Internet Sector index finished up 1.95, or 0.4%, at 504.08 after reaching a high of 513.25 earlier in the session. There may have been some trepidation ahead of Wednesday's Consumer Price Index report for May as strength seen in the April report helped spook the market.

Texas Instruments Merrill Lynch upped the price target on Texas Instruments to 155 today, but the stock hasn't needed much help lately. TI has gone from around 105 at the start of the month to 134 11/16 today, up 5 7/16, or 4%. It is a big reason why the Philadelphia Stock Exchange Semiconductor Index is at record highs.

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