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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: HammerHead who wrote (9442)	6/19/2001 11:20:31 AM
From: TechTrader42	Respond to of 52237

Yes, ORCL's report was terrific, wasn't it? Naturally, it was upgraded, on the heels of such a stellar report. The upgrades really make one wonder. From the NYT: "The earnings came on revenue for the quarter of $3.26 billion, down from $3.37 billion last year, a drop-off Mr. Henley said was attributable to softer-than-expected sales in Europe compounding the existing slowdown of the United States economy and the 'implosion of the dot-com world.' "Analysts cautioned not too read too much into Oracle's exceeding the earnings expectations of Wall Street because those estimates were based on Oracle's own guidance, given at the beginning of the quarter. "The quarter reflected mixed results for Oracle's two main software businesses, database and applications. Revenue from the database business was $1.235 billion, roughly the same as a year ago. "More troubling, analysts said, were sales of applications software that companies use to automate many facets of their business which Oracle has sought to make a larger percentage of its overall product mix. For the quarter, the company's applications revenue was $338 million, down 24 percent from the period a year ago. "'The applications were extremely disappointing,' said Mark Verbeck, a research analyst with Epoch Partners, an investment bank. 'They expected application revenue to be up 15 percent.' In an interview, Mr. Henley blamed larger economic conditions for the slower-than-desired revenue from applications, but he also said the rollout of the new applications software, Oracle 11i, introduced last year, 'took longer to sort out than expected.'"