Updated from 11:49 a.m. ET
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
show in San Francisco. The stock tumbled 12% Tuesday afternoon as a broad-based decline swept the
, following the
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
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.
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.
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