Oracle Rises to 13-Year High as Forecast Tops Estimates
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Oracle Corp., the largest maker of database software, rose to a 13-year high after forecasting quarterly sales and profit that may top some analysts’ estimates as it seeks to sell Web-delivered software to fuel growth.
The shares jumped 5.8 percent to $36.60 in New York, the highest closing price since October 2000. Revenue in the current quarter will climb 2 percent to 6 percent, and profit before some costs will be 68 cents to 72 cents a share, Oracle said yesterday. Analysts predicted sales growth of 4 percent to $9.35 billion and 70 cents in profit.