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To: Greg h2o who wrote (30005)	3/1/2001 6:23:14 PM
From: Greg h2o	Read Replies (2) \| Respond to of 42804

this market just can't catch a break...SBC and ORCL warned (not that ORCL wasn't pretty much expected): Thursday March 1, 6:05 pm Eastern Time After the Bell - Oracle, SBC warnings slap stocks NEW YORK, March 1 (Reuters) - Technology stocks staggered lower in extended-hours trading on Thursday, dazed after Corporate America delivered more warnings about weaker results from high-tech companies. Software maker Oracle Corp. (NasdaqNM:ORCL - news) and SBC Communications Inc. (NYSE:SBC - news), the No. 2 U.S. local telephone company, both said their results would fall below Wall Street's estimates, joining the recent parade of technology companies complaining of dwindling earnings. Oracle, the world's second-biggest software company, said its quarterly results will lag expectations because of waning spending by customers on information technology. Based on the slowing sales, Oracle now expects to report earnings per share that rose 25 percent to 10 cents a share, from 8 cents, a year ago, excluding investment gains. Redwood Shores, Calif.-based Oracle had been expected to earn 10 cents a share, according to First Call/Thomson Financial. The company's shares dropped 14 percent from their close on Nasdaq to $18-3/8, its lowest level since December 1999, on the Instinet electronic brokerage system. During the regular trading session, Oracle shares rose $2-3/8 to finish Thursday at $21-3/8. Earlier in the day, Oracle stock hit a new 52-week low of $18-3/4. Other high-tech heavyweights were dragged down, as well. Cisco Systems (NasdaqNM:CSCO - news) fell to $23-11/16 on Instinet from a close at $24-1/2, while Intel Corp. (NasdaqNM:INTC - news) slipped to $28-5/8 from a close at $29-1/8. SBC Communications said after the bell its first-quarter profits may fall short of Wall Street's expectations because of costs to roll out new services such as high-speed Internet access and long-distance service, and improve service quality in its Ameritech unit. As a result of these expenses, SBC expects first-quarter 2001 earnings per share to be in the range of 50 cents to 53 cents. Wall Street analysts had expected the company to earn 59 cents in the first quarter, according to research firm First Call/Thomson Financial. SBC's shares stumbled to $44 on Instinet after ending Thursday's session at $45.50.