Oracle Rises After Beating Street

By TSC Staff ,

Oracle (ORCL) - Get Report was up 13.8% in preopen Island trading and sparking buying in other tech stocks after the software company said it believed its key U.S. market was improving. The software giant said first-quarter revenue would be flat with the year-ago period.

The company posted fourth-quarter earnings of 15 cents, beating the

Thomson Financial/First Call

estimate of 14 cents but down from the year-ago 16 cents. Revenue was $3.26 billion, down from $3.37 billion a year ago.

This morning

Merrill Lynch

raised its rating on the stock to long-term buy from accumulate. Among software stocks,

Siebel

(SEBL)

was up 10% and

Microsoft

(MSFT) - Get Report

was up 2.3%.

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