Oracle (ORCL) NewsBite - SAP Forecast Pulls Down ORCL

Posted: Wednesday, October 28, 2009 10:06 AM EDT

Oracle (NasdaqNM: ORCL) opened at $21.30. So far today, the stock has hit a low of $20.87 and a high of $21.42. ORCL is now trading at $21.36, down $0.51 (-2.33%). Over the last 52 weeks the stock has ranged from a low of $13.80 to a high of $22.95. ORCL is receiving pressure this morning from a disappointing forecast from competitor SAP (SAP). The German company expects fiscal-2009 software and software-related service revenues to fall 6 to 8 percent, down from a previous forecast of a 4 to 6 percent contraction. This could be a bad sign for ORCL. 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 January out-of-the-money bear-call credit spread above the 24 range. [ABR-Seven Summits Strategic Investments NewsBite]

Click Symbol For More News On: (ORCL) (SAP)