ORCL, take profits?

Discussion in 'Stocks' started by S2007S, Dec 6, 2006.

  1. S2007S


    NEW YORK (MarketWatch) -- Shares of Oracle Corp. (ORCL :
    Oracle Corporation
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    Last: 18.11-0.75-3.98%
    9:51am 12/06/2006
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    ORCL18.11, -0.75, -4.0% ) fell 4%, and hit a one-month low in intraday trading, after Lehman Bros. analyst Israel Hernandez encouraged investors to "take profits" ahead of the business software company's release of second-quarter results on Dec. 18. Hernandez said that while the outlook for the second half of fiscal 2007 remains solid based on channel feedback and historical seasonal trends, "we believe investors are likely to find database results disappointing." He sees evidence that core database sales tracked below his $871 million forecast as "end-of-quarter deal slippage" led to weakness in the North America market. Meanwhile, Hernandez reiterated his overweight rating and his $20 price target on the stock. The stock was last down 82 cents, or 4.4%, at $18.01. The stock hit a low of $17.80 earlier in the session, which was lowest price seen since Nov. 3. As of Tuesday's close, the stock had been up 19% over the past 3 months. End of Story