Updated from 2:02 p.m. ESTIt was billed as an analyst day, but Oracle's ( ORCL) semiannual meeting with Wall Street seemed more like a pitch for Larry Ellison's plan for world domination. The brash billionaire and his minions promised investors that the company would pay off the $9.2 billion debt remaining from its acquisition of PeopleSoft by the end of fiscal 2006, push margins to 50% within four years and, armed with the cash generated by the acquired company, drive EPS growth to a compound rate of 20%. And as they say on the late night TV commercials -- wait, there's more. Oracle claims that the new version of its application server is so good, it will allow the company to go head-to-head with the two leading suppliers of business intelligence software, Business Objects ( BOBJ) and Cognos ( COGN). Both companies are currently Oracle partners, but Executive Vice President Charles Rozwat said he was confident that the newly competitive relationship would not stop the companies from working together, much as SAP ( SAP) cooperates with Oracle despite the intense rivalry between the two companies. Earlier in the day, Oracle raised its guidance for 2006, and CEO Ellison said newly acquired PeopleSoft will help the database giant get back on the acquisition trail. Ellison said he intends the company to become No. 1 in the application server business by a combination of organic growth and acquisitions. Although Ellison did not mention a candidate, he has in the past said that BEA Systems ( BEAS) is a company he would like to buy should the price be right. Also on the shopping list: companies that can help Oracle become the leader in more industry-specific applications. Ellison referred repeatedly to economies of scale as a key benefit of the PeopleSoft acquisition and said "one of the nice things about being bigger is pricing -- you can use it as a weapon. And we will. But we won't go crazy about it."