A 52-week low, that is. Shares of Oracle (ORCL) slumped $3.56, or more than 13%, to $23.56 on Friday, nearing a year low of $21.50 as tech losses broadened in the major markets.
Oracle is burdened with heavy expectations for the final three weeks of its fiscal 2001 third quarter, analysts say. They add, however, that the software giant has yet to experience any effects from a slowing economy, though the final weeks of the quarter will be critical for the Redwood Shores, Calif.-based company.
Shares of Oracle slid Friday, never able to rebound on double the average daily trading volume, after research reports were released following a meeting with Chief Financial Officer Jeff Henley.
The falloff places the company's current share price at about half its all-time high of a split-adjusted $46.47, set Sept. 1. The shares are also near the 13-month low they last saw on Nov. 30.
"Attempting to call Oracle's quarter with three weeks remaining and a good deal of business still to be done may be premature at this point," Deutsche Banc Alex. Brown analyst James Moore said. He has kept his financial expectations for the company unchanged, and maintains a Strong Buy rating on the shares.
Moore expects Oracle to report earnings of 12 cents a share on revenue of $2.9 billion.
Oracle is burdened with heavy expectations for the final three weeks of its fiscal 2001 third quarter, analysts say. They add, however, that the software giant has yet to experience any effects from a slowing economy, though the final weeks of the quarter will be critical for the Redwood Shores, Calif.-based company.
Shares of Oracle slid Friday, never able to rebound on double the average daily trading volume, after research reports were released following a meeting with Chief Financial Officer Jeff Henley.
The falloff places the company's current share price at about half its all-time high of a split-adjusted $46.47, set Sept. 1. The shares are also near the 13-month low they last saw on Nov. 30.
"Attempting to call Oracle's quarter with three weeks remaining and a good deal of business still to be done may be premature at this point," Deutsche Banc Alex. Brown analyst James Moore said. He has kept his financial expectations for the company unchanged, and maintains a Strong Buy rating on the shares.
Moore expects Oracle to report earnings of 12 cents a share on revenue of $2.9 billion.
