By Dow Jones Business News,
June 20, 2014, 04:23:00 PM EDT
By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks closed the week with mixed results Friday, with Oracle Corp. one of the
biggest decliners following a disappointing quarterly report from the business-software company.
Oracle ( ORCL ) shares fell almost 4% to close at $40.82 after the company reported a fiscal fourth-quarter profit of $
3.64 billion, or 80 cents a share, on revenue of $11.3 billion. During the same period a year ago, Oracle earned $3.8
billion, or 80 cents a share on $10.94 billion in sales.
Excluding one-time items, Oracle would have earned 92 cents a share. Analysts surveyed by FactSet had forecast Oracle
to earn 95 cents a share on $11.48 billion in revenue. The company has been dealing with sluggish sales of late as it
has been transitioning to cloud-based services and software.
In addition to Oracle, losses also came from Pandora Media Inc. ( P ), down by 1.6%; Groupon Inc. ( GRPN ), which gave up
1.4% and Yahoo Inc. (YHOO), which fell by almost 2%.
Amazon.com Inc. ( AMZN ) also gave up almost 1%, to close at at $324.20 a share two days after the company unveiled its
Apple Inc. ( AAPL ) shares shed 1% to end the week at $90.91 following reports that the company will release multiple
versions of a smartwatch this fall.
The Nasdaq Composite Index (RIXF) managed to gain almost 9 points and close at 4,358 and the Philadelphia
Semiconductor Index (SOX) also closed with a small gain.
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