Oracle (ORCL) NewsBite - ORCL Earnings Top Estimates

Posted: Wednesday, June 24, 2009 10:11 AM EDT

Oracle (NasdaqNM: ORCL) opened at $20.86. So far today, the stock has hit a low of $20.78 and a high of $20.92. ORCL is now trading at $20.89, up $1.02 (5.13%). Over the last 52 weeks the stock has ranged from a low of $13.80 to a high of $23.62. Shares of ORCL are rising this morning after the company reported its fourth-quarter profit fell to $1.89 billion, or 38 cents per share. Excluding one-time items, ORCL earned 46 cents per share, beating analysts' projections of 44 cents per share. Technical indicators for the stock are neutral and S&P gives ORCL a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ORCL the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 18 range. [ABR-Seven Summits Strategic Investments NewsBite]

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