Oracle Higher Following Ellison Comments

Oracle

(ORCL) - Get Report

was gaining 4.7% to $14.45 in premarket Instinet trading, a day after the company's chief executive said growth would return next year.

Speaking at a conference in San Francisco, Larry Ellison

said the current recession would end in 2002, and that when it does, his company would boast operating margins of up to 50%.

Still, Ellison couched his optimism by saying the current economic downturn was "uncharted territory" and "a different kind of recession."