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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Loring who wrote (30973)	4/8/2000 10:19:00 PM
From: Spartex	Respond to of 42771

Friday April 7, 7:21 pm Eastern Time Oracle to more than double number of shares outstanding SAN FRANCISCO, April 7 (Reuters) - Oracle Corp. on Friday is seeking to more than double its number of shares outstanding, the No. 1 database software company said in a regulatory filing. The Redwood Shores, Calif.-based Oracle (NasdaqNM:ORCL - news) said in a filing with the Securities and Exchange Commission that it would put to shareholder vote on May 10 a plan to boost shares outstanding to about 11 billion from the current 4 billion. Oracle said in the filing its board believes ``the proposed increase is desirable so that, as the need may arise, the company will have the flexibility to issue shares of common stock without additional expense or delay, in connection with possible future stock dividends of stock splits,' among other needs. Oracle recently split its high-flying stock 2-for-1. Shares rose 4-15/16 to 87-1/8 on the Nasdaq on Friday amid a broad rally in high-market-value technology stocks. The Nasdaq surged 178.89, or 4.19 percent, to 4446.45. On March 15, the board authorized an amendment to Oracle's articles of incorporation to boost the number of shares outstanding. Stockholders of record on March 22 are entitled to vote their shares either for or against the proposal at a special shareholder meeting to be held May 10 at the company's headquarters. --------------------------------------------------------------------------------