Oracle, Microsoft Are Cut as Currency Soars, PC Sales Weaken

Stronger currency and weaker PC sales caused cuts to Oracle, Microsoft and Micron Technology, all in Wednesday's Analysts' Actions. Oracle's price target was cut to $48 at Barclays, though an OVERWEIGHT rating was maintained. The firm said it remains positive on Oracle, but that currency pressure would likely cap share growth in the near term. Microsoft was lowered to $46 at Morgan Stanley with an EQUAL WEIGHT rating reiterated. Analysts said, like Oracle, the company faces significant currency exposure in addition to softer PC demand. Micron was cut to $40 at Jefferies. The firm said pricing of Micron's DRAM chips will weaken in the short term.