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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (20960)1/10/2005 7:27:09 PM
From: RealMuLan  Read Replies (1) of 116555
 
Oracle Could Lay Off 6,000
01.10.05, 11:51 AM ET

Piper Jaffray raised estimates on Oracle (nasdaq: ORCL - news - people ) and reiterated an "outperform" rating, noting that the company "currently presents an attractive buying opportunity." Piper Jaffray expects Oracle to lay off about 6,000 employees in the wake of the combination with PeopleSoft, about 11% of the total headcount of 53,805. The research firm's model for the combined company also includes the assumptions for no revenue synergies, a 50% writedown of PeopleSoft's deferred maintenance, 3% incremental maintenance attrition for PeopleSoft customers and $2 billion in incremental debt. Piper Jaffray raised the fiscal 2005 revenue estimate to $11.977 billion from $11.008 billion but left the earnings estimate at 63 cents per share; the firm raised the fiscal 2006 revenue estimate to $14.521 billion from $11.888 billion, and raised the earnings estimate to 79 cents per share from 71 cents. Piper Jaffray said risks to Oracle include the integration of PeopleSoft, increasing competitive pressure from IBM (nyse: IBM - news - people ) and Microsoft (nasdaq: MSFT - news - people ) in the database market, and "difficulty in growing new markets required to accelerate growth."

forbes.com
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