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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: MeDroogies who wrote (11484)	8/18/1999 4:20:00 PM
From: alydar	Respond to of 19080

Oracle Shares Fall on Concern About Sales Force Reorganization Redwood City, California, Aug. 18 (Bloomberg) -- Oracle Corp. shares fell as much as 7 percent amid concern that the top database software maker's sales force reorganization may cause some disruption in fiscal first-quarter sales. Oracle fell 1 1/2 to 35 13/16 in early afternoon trading of 20.4 million shares, making it the second most-active stock in U.S. markets. Earlier it touched 34 11/16. The company reorganized its sales force in an effort to deliver better revenue and earnings growth and boost sales for its Internet-focused software. Oracle, based in Redwood City, California, has been pushing to gain market share as some corporations delay software spending to fix the Year 2000 computer bug and rivals stumble. Joseph Farley, an analyst at Donaldson, Lufkin & Jenrette, said in a report that Oracle's shuffling of its sales force might cause some problems in the first quarter. He also said consulting revenue may be weaker than in the year-earlier period. Farley didn't change his ``market performance' rating on the stock or his first-quarter per-share earnings estimate of 17 cents. Oracle's first quarter ends Aug. 31. Analysts expect the company to earn 16 cents a share, the average estimate according to First Call Corp. Some analysts dismissed Farley's concern. ``Management itself doesn't know what the quarter will be until they wrap it up,' said Douglas Crook, an analyst at Prudential Securities, who rates the stock ``strong buy.' The company addressed the sales force reorganization on its fourth-quarter conference call, and ``they described it as minor,' Crook said. ``There's no new information here,' he said, referring to Farley's note. Aug/18/1999 13:28 For more stories from Bloomberg News, click here. (C) Copyright 1999 Bloomberg L.P. Any redistribution of Bloomberg content, including by framing or similar means, is expressly prohibited without the prior written consent of Bloomberg L.P. Any reference to the material must be properly attributed to Bloomberg News. The information herein was obtained from sources which Bloomberg L.P. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities.(C) Copyright 1999 Bloomberg L.P. BLOOMBERG, Bloomberg News, Bloomberg Financial Markets, Bloomberg Television, Bloomberg News Radio are trademarks, tradenames and service marks of Bloomberg L.P.