Jun 19, 2001 : Markets: Oracle Shines, Exodus Flops
📅 - Shares in computer software giant Oracle were up considerably in early morning trading Tuesday after the company reported fairly positive earnings after the bell yesterday.
Last night, the company posted Q4 earnings of $855 million, or 15 cents per share, which beat analysts' lowered expectations.
Investors have been cheering the news in morning trading today, sending shares in the company up more than two dollars to about $16.80.
"While the economy slowed our sales growth, we still managed to increase profits and improve margins to record levels this past year,'' said Oracle CFO Jeff Henley. "That's a pretty good financial result in this difficult economic climate."
Web hosting firm Exodus Communications is having a far worse week, getting hit with sell-offs and downgrades after a brokerage firm cut the company's price target.
A research note from Lehman Brothers released yesterday slashed the target price of shares in the company to $9 from $15.
Things got worse for Exodus this morning when two brokerage houses downgraded the stock. CSFB cut its rating from "Buy" to "Hold", and Morgan Stanley downgraded Exodus from "Strong Buy" to "Neutral".
Shares in Exodus have been sliding significantly since last Wednesday, and were trading at $2.88 Tuesday morning - a far cry from last week's levels of six to seven dollars.
Last night, the company posted Q4 earnings of $855 million, or 15 cents per share, which beat analysts' lowered expectations.
Investors have been cheering the news in morning trading today, sending shares in the company up more than two dollars to about $16.80.
"While the economy slowed our sales growth, we still managed to increase profits and improve margins to record levels this past year,'' said Oracle CFO Jeff Henley. "That's a pretty good financial result in this difficult economic climate."
Web hosting firm Exodus Communications is having a far worse week, getting hit with sell-offs and downgrades after a brokerage firm cut the company's price target.
A research note from Lehman Brothers released yesterday slashed the target price of shares in the company to $9 from $15.
Things got worse for Exodus this morning when two brokerage houses downgraded the stock. CSFB cut its rating from "Buy" to "Hold", and Morgan Stanley downgraded Exodus from "Strong Buy" to "Neutral".
Shares in Exodus have been sliding significantly since last Wednesday, and were trading at $2.88 Tuesday morning - a far cry from last week's levels of six to seven dollars.
Reads: 1414 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/exodus619.cfm
Want to add a website news or press release ? Just do it, it's free! Use add web hosting news!