TECH STOCKS: Oracle, RIM Lead Tech Action Ahead Of Earnings

Date : 12/16/2010 @ 10:48AM
Source : Dow Jones News
Stock : Take-Two Interactive Software, Inc. (MM) (TTWO)
Quote : 77.07  0.0 (0.00%) @ 8:00AM

TECH STOCKS: Oracle, RIM Lead Tech Action Ahead Of Earnings

Oracle Corp. (NYSE:ORCL)
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By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) - Oracle Corp. and Research In Motion Ltd. were among the leading tech stocks getting attention from investors Thursday due to expectations for the companies' quarterly results, due after the market close.

Oracle. (ORCL) rose 15 cents a share to $30.64 with its fiscal second-quarter earnings on tap. Analysts surveyed by FactSet Research estimate Oracle will report earnings excluding one-time items of 46 cents a share on $8.3 billion in revenue for its second quarter. During the same period a year ago, Oracle earned 39 cents a share on sales of $5.9 billion the same period a year ago.

Improvements in corporate spending on information technology, as well as growth in Oracle's hardware business is expected to help boost Oracle's results.

RIM (RIMM) shares remained near their breakeven point of $59.18 in advance of the company's third-quarter earnings report. Analysts estimate RIM will report income of $1.64 a share on sales of $5.4 billion, and are looking for RIM to report smartphone shipments of 14 million units in the quarter.

Video game publisher Take-Two Interactive Software Inc. (TTWO) was at its breakeven point of $12 a share ahead of its fourth-quarter earnings report, due after the market close.

Other gains came from Apple Inc. (AAPL), Cisco Systems Inc. (CSCO), Netflix Inc. (NFLX) and Intel Corp. (INTC)

(INTC)The Nasdaq Composite Index (RIXF) rose almost 5 points to 2,621, while the Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High Tech 35 Index (MSH) also edged into positive territory.

 
 

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