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

To: MeDroogies who wrote (17136)	6/5/2002 3:50:52 PM
From: Jerome	Read Replies (1) \| Respond to of 19080

>>>Does ORCL announce before options expiry? <<< ORCL reports on the 18th and options expire on the 21st. Ellison just announced that they would meet expectations of $.12.

To: MeDroogies who wrote (17136)	6/5/2002 4:08:46 PM
From: Bipin Prasad	Respond to of 19080

U.S. Stocks Rise on Growth in Service Industries, Oracle Profit Estimate By Danielle Sessa New York, June 5 (Bloomberg) -- U.S. stocks rose for the first time in three days after an industry report showed the service economy expanded more than expected in May. Microsoft Corp. and Wal-Mart Stores Inc. led the advance. Oracle Corp. surged and triggered a jump in benchmark indexes after the software company's Chief Executive Officer Lawrence Ellison said earnings ``at least met'' forecasts. ``With the strength of the economic data it's pretty obvious that we are going to see a tremendous improvement in earnings,'' said Eric Green, who helps oversee $600 million at Penn Capital Management in Cherry Hill, New Jersey. ``Still, there is plenty of fear in this market.'' The Dow Jones Industrial Average climbed 99.83, or 1 percent, to 9786.21. The Standard & Poor's 500 Index rose 8.03, or 0.8 percent, to 1048.72. Consumer stocks accounted for one-third of the gain. The Nasdaq Composite Index added 11.09, or 0.8 percent, to 1590.42, reversing an earlier loss. Stocks' gains have been limited by increased scrutiny of corporate management and escalating tensions in the Middle East and South Asia. Investigations into allegations of improper trading at Knight Trading Group Inc. and market manipulation by energy traders including Williams Cos. have fueled concern corporate managements have misled investors. ``Investors have got their hands full,'' said Ed Larsen, who oversees $158 billion in assets as chief investment officer of AIM Capital Management Inc. in Houston. Four stocks fell for every three that rose on the Nasdaq Stock Market, while advancing and declining shares were about even on the New York Stock Exchange. Some 967 million shares traded on the Big Board by 3 p.m. New York time, up 19 percent from a week ago. Economic Data Stocks jumped after the Institute for Supply Management said its index for retail, financial services, construction and other non-manufacturing companies - which accounts for 83 percent of the economy -- rose last month to 60.1, the highest since August 2000, from 55.3. Analysts surveyed by Bloomberg had forecast a reading of 56. Profits for companies in the S&P 500 are expected to climb this quarter for the first time since final three months of 2000, according to Thomson First Call. Oracle added 51 cents to $8.33. Ellison said the software maker ``at least'' met analysts' consensus profit estimates for the fourth quarter ended May 31. ``Had we not done at least 12 cents in operating income, we would have had to warn and we didn't warn,'' Ellison said at a press conference. Wal-Mart Gains Wal-Mart gained 80 cents to $54.80. The biggest merchant said sales at stores open more than a year rose 6.2 percent in the past month, topping forecasts. Lowe's Cos., the second-biggest home- improvement chain, advanced $1.41 to $47.41. Gap Inc. jumped 66 cents to $15.21. Stacy Pak, a Prudential Securities Inc. analyst, said the worst of the retailer's sales slump has passed and the forthcoming appointment of a new chief executive may propel the shares. She raised her recommendation to ``buy'' from ``hold.'' Procter & Gamble gained $1.16 to $90.71. The maker of Bounty paper towels and Folgers coffee said earnings per share will rise at least 10 percent as it trims costs and sell more new products such as Crest teeth-whitening strips. Microsoft Advances Microsoft advanced 93 cents to $50.91, paring its loss this year to 23 percent. Credit Suisse First Boston analyst George Gilbert said concern that the world's largest software maker's profitability is deteriorating is overdone. Gilbert estimated margins at the company's computer desktop and enterprise software divisions will increase to 58 percent from 56 percent. He raised his fiscal fourth-quarter earnings target by 3 cents to 45 cents a share. Manugistics Group Inc. tumbled $2.16 to $5.78. The business- software maker said it had an unexpected loss instead of a profit in its fiscal first-quarter as sales trailed targets. The company plans to cut an unspecified number of jobs. Energy Traders Slide Williams dropped to a seven-year low after federal regulators threatened to revoke the right of four energy traders to charge market rates for power and natural gas after failing to cooperate with an investigation of possible market manipulation in California. The Federal Energy Regulatory Commission said Williams, El Paso Electric Co., Avista Corp. and a unit of Enron Corp. have 10 days to explain why they shouldn't lose their rights. Williams shed $2.11 to $9.10. Avista slid $2.34 to $11.81. Perot Systems Corp. slumped $4.03 to $13.95 before trading was halted at 2:26 p.m. The computer-services company founded by H. Ross Perot gave energy trader Enron Corp. tips on how to manipulate California's power market, state Senator Joseph Dunn said. ``In my lifetime, American business has never been under such scrutiny,'' said Henry Paulson, chairman and chief executive of Goldman Sachs Group Inc. in a speech at the National Press Club ballroom in Washington. ``To be blunt, much of it is deserved.'' EFunds Corp. plunged $4.25 to $9. The provider of electronic- payment services cut its revenue and profit forecasts for the rest of the year and said Chief Financial Officer Paul Bristow will leave at the end of this month. The company didn't give a reason for Bristow's departure. The Russell 2000 Index of smaller stocks slipped 0.53, or 0.1 percent, to 473.23. The Wilshire 5000 Total Market Index, the broadest measure of U.S. shares, gained 30.91, or 0.3 percent, to 9885.47. Avista Corp. (AVA) Dell Computer Corp. (DELL) Efunds Corp. (EFDS) Exxon Mobil Corp. (XOM) Gap Inc. (GPS) Hewlett-Packard Co. (HPQ) Lowe's Cos. (LOW) Manugistics Group Inc. (MANU) Microsoft Corp. (MSFT) Perot Systems Corp. (PER) Procter & Gamble (PG) Wal-Mart Stores Inc. (WMT) Williams Cos. (WMB)