Oracle Earnings Disappoint, Futures Tank

Oracle (ORCL) reported earnings after the bell just minutes ago that were not up to par as the stock is down almost 10% trading around $19 a share after hours. This in turn has sent the rest of the Tech stocks tumbling and alongside it the NASDAQ futures.

As of now the NASDAQ is down over .5% after hours, and looks to be continuing to slide.

The reason why Oracle is having such a big impact on the overall sector is because of its strength historically and independence from the current economic conditions. Many investors feel Oracle should have had a strong quarter because of its strong international exposure and slew of recent acquisitions. This news then puts a damper on the rest of the market as the thinking goes if Oracle is having problems, then something simply isn’t right.

I will see you in a few hours with my Nightly Stock Picks.

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Related Posts From the Past:

• Morning Stock Report, March 27 2008
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Comments on "Oracle Earnings Disappoint, Futures Tank" are closed unless our forms appear below.

Pingback by Blain’s Nightly Stock Picks, March 26 2008 | Stock Trading To Go

2008-03-26 19:44:30

[...] Oracle tanked 10% on earnings at the closing bell. This brought down the rest of the NASDAQ in post-hours trading which now looks [...]

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Pingback by Morning Stock Report, March 27 2008 | Stock Trading To Go

2008-03-27 09:00:30

[...] that is less the NASDAQ which is currently feeling the side affects of the bearish news from the Oracle earnings last [...]

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