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

To: Michael C. Woodward who wrote (4336)	12/10/1997 9:13:00 PM
From: Duke	Respond to of 19080

Something I found in Techinvestor, good luck to you all and remember "patient is the key". Oracle's Ellison Does Little To Soothe Investors (12/10/97; 5:00 p.m. EST) By Larry Dignan, TechInvestor NEW YORK -- Oracle chief executive officer Larry Ellison was short on answers regarding his company's future earnings prospects, but long on one-liners Wednesday. Ellison, who gave the afternoon keynote speech at New York's Internet World under the glare of camera flashes, spoke before a packed house, but said little to soothe investors. "It's fortunate we're talking about the network computer," he said. "If you lost a lot in the market like I did, you can save a fortune with network computing." Ellison, who lost more than $2 billion in Tuesday's slide, quipped his way through the first few minutes of his familiar network computing speech, handed the presentation off to two of his troops, and left via a door to the right of that stage before the lights went up. Ellison did not attend a news conference following the keynote, but left it up to Oracle's senior executives to try to shed some light on the Redwood Shores, Calif., company's disappointing earnings. Karen White, senior vice president of worldwide marketing and business development for Oracle, said the fundamentals driving the company were still strong, and any problems in the quarterly results can be fixed. The recent quarter could be attributed to "growing pains," she said. White added that the extent of Asia's problems and an internal reorganization cut into the second quarter results. She also defended Oracle's network computing strategy, which some Wall Street analysts have said is keeping the company from focusing on its core applications business. "We are in two businesses: low-cost computing and high-value business applications," said White. "We moved from a vendor of databases to a solution provider. We made the changes when we were flying high." Oracle executives pushed the network computing theme as the company unveiled a series of products that will enable corporations to move from the client/server model to the network. Among the products unveiled Wednesday, Oracle launched its Application Server 4.0, Internet Commerce Server 1.1, Payment Server 1.0, and Lite 3.0, which will be a Java-enabled database. Oracle said it is hoping the new products will jump-start revenue growth, but success depends on the speed existing customers move toward network computing and how many new clients are attracted. "The new products make our applications more competitive, and that adds to revenue," said Ron Wohl, senior vice president of applications development. It will have a positive impact, but how much is hard to predict." Oracle [ORCL] closed up 1/2 to 23 7/16 in heavy trading Wednesday.