Software giant Oracle (ORCL) - Get Report is likely to be the name of the tech-game today with the stock catching an upgrade ahead of its much-awaited fiscal first-quarter earnings report due out today.
Morgan Stanley Dean Witter
analyst Charles Phillips lifted his rating on the stock to strong buy from outperform. While the 28-analyst estimate according to
First Call/Thomson Financial
calls for 13 cents a share, the whisper number, or the earnings-per-share figure investors hope it will meet, is put at 14 cents according to one website.
The stock has been in a funk, along with the broader
Nasdaq Composite Index
so far this month. For the month of September the stock is down 10%. But optimism is running high over its upcoming report with a number of analysts expecting good things from the tech bellwether. Today's upgrade is likely to inject decent upside into the stock.
Oracle was bumping higher in pre-open trading, and was the most actively traded stock on Instinet this morning. The stock traded at $85.31, up from a regular trading close of $81.81 yesterday.