Oracle Recovers, But Still Finishes Down - TheStreet

Updated from 11:49 a.m. ET

Oracle

(ORCL) - Get Report

fell 2% Wednesday, after being down as much as 9% on concerns about the company's growth.

The stock was helped by statements from the company affirming current fiscal second-quarter and full-year earnings estimates. In addition, the company said it sees database revenue growing faster than last year.

Still, Wednesday's decline came a day after Oracle met analysts and introduced a new version of its database software at its hoopla-filled

OpenWorld

show in San Francisco. The stock tumbled 12% Tuesday afternoon as a broad-based decline swept the

Nasdaq

, following the

Federal Reserve's

widely expected decision to stand pat on interest rates. Wednesday, several analysts made negative remarks about Oracle, citing concerns about the stock's valuation and the company's growth prospects

Robertson Stephens

analyst Eric Upin downgraded the stock to long-term attractive from buy, citing valuation concerns and near-term product transition risk in software applications. Meanwhile,

First Union Securities

analyst Chip Whitman cut his price target to $80 from $95.

UBS Warburg

analyst Andrew Roskill said many of the company's followers were citing "less enthusiastic body language" from Oracle CFO Jeff Henley during his presentation Tuesday. (None of the firms have done underwriting for Oracle.)

Oracle was off $1.38, or 2%, at $68.13.

As originally published, this story contained an error. Please see

Corrections and Clarifications.