BEA Systems

was down 7.3% in midmorning after

Merrill Lynch

began coverage with an intermediate-term accumulate, long-term buy rating and a 12-month target of $57.

Merrill said it considers BEA a core software provider for both corporate and Internet-based applications.

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Among other large software providers,

Microsoft

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was up 1.7% and

Oracle

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rose 0.2%.