Tech stocks gained thanks to a strong earnings report from sector giant
, even as the broader market indices held flat on mixed economic data and continuing worries about the health of the financial sector.
Oracle soared 6.8% after the company blew past analysts' expectations for its
second quarter. Earnings rose 35% to $1.30 billion, or 31 cents a share, excluding items. Analysts were looking for EPS, less items, of 27 cents. Revenue soared 28% to $5.31 billion from $4.16 billion a year ago, beating analysts' expectations of $5.04 billion. Oracle's guidance also offered some upside to Wall Street's forecast. Shares were up $1.46 to $22.22.
Research In Motion
gained 3.7% ahead of its third-quarter earnings after the market close Thursday. Analysts are expecting EPS of 62 cents on revenue of $1.65 billion, compared with earnings of 31 cents a share on revenue of $835 million a year ago. For the fourth quarter, analysts are expecting EPS of 65 cents on revenue of $1.74 billion. The stock was up $3.76 to $105.89.
added $2.20, or 6.3%, to $37.16 after the company reported higher-than-expected earnings for the first quarter and raised guidance. Accenture said revenue increased 19% to $5.67 billion in the quarter and it reported EPS of 60 cents. That was higher than analysts' expectations of revenue of $5.45 billion and earnings of 56 cents a share. For the full fiscal year, Accenture raised its EPS outlook for the full year by 15 cents to a range of $2.36 to $2.41. Analysts were expecting EPS of $2.26 for the full year.
Satellite radio company
fell 50 cents, or 3.8%, to $12.56 as analysts raised concerns that
buyout of XM would take longer than expected. Earlier this month, investors had hoped that regulatory approval for the deal would come by the end of this week. Shares of Sirius were down 6 cents, or 1.8%, to $3.19
Online travel sites
declined after a Wall Street analyst said in a research note that weaker economic and travel trends will hurt online travel agencies. The stocks were downgraded to hold from buy by an analyst from Stifel Nicolaus. Shares of Orbitz were off 82 cents, or 8.7%, to $8.57. Expedia fell $1.15, or 3.5%, to $31.42.