The earnings season began in earnest today when, after the close of market,

Oracle

(ORCL) - Get Report

reported third-quarter earnings of $293 million or 20 cents a share, squeaking past analyst expectations of 19 cents a share. Last year the software maker earned 14 cents a share. Oracle closed lower 1 1/16 to 36 7/8.

But for technology stocks, the day was a snooze. There was some movement but not enough to get the heart racing. The day began on a sour note for computer distributor

Ingram Micro

(IM)

, which warned this morning that first-quarter earnings will fall short of analysts' expectations. The Santa Ana, Calif.-based company also announced 1,400 job cuts and attributed the shortfall to intense margin pressure, year 2000 fears and economic jitters outside the United States.

After opening lower, Ingram Micro closed the day stronger and moved 1 1/8 higher to 19 3/4.

PC makers were not so lucky.

Dell

(DELL) - Get Report

fell 1 7/16 to 41 7/8. Another casualty was

Compaq

(CPQ)

, which fell 1 1/16 to 30 1/2.

Net stocks did not provide much upward support. Both

Lycos

(LCOS)

and

CMGI

(CMGI)

gave back some of their gains made earlier this week as both sides kept quiet. Both companies had seen a rise in their stock as doubts

mounted about Lycos' proposed merger with units of

USA Networks

(USAI) - Get Report

. Lycos ended the day 1 point lower to 109 while CMGI declined 9 9/16 to 182 1/8.

Internet portal

Yahoo!

(YHOO)

entered a deal with German telecom

Mannesman Arcor

in an attempt to get into the fast-growing European market. Investors liked the sound of that. Yahoo! ended the day higher 5 3/8 to 179.