PeopleSoft Forges On; Oracle App Sales Down
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Less than two weeks after US District Judge Vaughn Walker gave Oracle an important victory over the Justice Department, PeopleSoft Inc.
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SAN FRANCISCO (CBS.MW) - PeopleSoft shares fell in premarket trade Thursday after the company rejected Oracle&#39;s latest takeover offer of $24 a share, worth at least $8.
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PeopleSoft Inc.&#39;s profit may drop ``significantly&#39;&#39; this year, and the company may have trouble surviving on its own, Oracle Corp.
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A blowout quarter is sullied by lower applications revenue, strengthening the case for a deal for PeopleSoft.
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Oracle Corp.&#39;s acquisition of PeopleSoft Inc. on Monday means about 2,000 Denver-area jobs hang in the balance. An analyst said Denver-area sales and marketing positions within the former JD Edwards line are among the most vulnerable.
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NEW YORK  - Software giant Oracle Corp.&#39;s shares dipped while the stock of its rival, PeopleSoft, rose ahead of a court battle this week over PeopleSoft&#39;s resistance to Oracle&#39;s 18-month-old takeover bid.
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Business software maker PeopleSoft Inc. strengthened its ties with technology giant IBM Corp. on Tuesday, hoping to boost its recently sagging sales as it continues to fight Oracle Corp.'s &#36;7.7 billion hostile takeover bid.
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Rebounding from sales shortfalls last quarter, business applications vendors PeopleSoft Inc. and Siebel Systems Inc. each released preliminary third-quarter results on Monday showing higher revenue than they had previously forecast.
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Sure, the PeopleSoft board told shareholders to just say no. This battle will go down to the wire, and even afterward Ellison could prevail.
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PeopleSoft Inc.  on Thursday returned to profit in the third quarter from a year earlier with a 12 percent rise in sales that upended market fears that Oracle Corp.'s takeover bid had damaged PeopleSoft's business in the quarter.
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Plus, Coke loses some fizz, PeopleSoft sort of says no, and has Starbucks' value peaked?
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PeopleSoft Inc. PSFT.O on  Thursday reported a quarterly net profit, after a year-earlier  loss, due to stronger sales of its business software than it  had expected.
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Oracle Corp. Chairman Jeffrey Henley said the software maker is determined pursue its $7.7 billion takeover of PeopleSoft Inc. after reporting its new applications software license business tumbled 36 percent last quarter.
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(InfoWorld) - The tech-heavy Nasdaq has been climbing recently, spurred by some of the usual suspects, such as Google. But Oracle results and prospects for chip makers also inspired confidence among IT investors this week. Expectations have not been great this year for mature areas of the enterprise software market. But Oracle inspired IT investors this week with aÂ strong financial reportÂ that indicates its acquisition strategy has been paying off. Quarterly revenue rose 20 percent to $5.8 billion and profit increased 23 percent to $1.6 billion. Excluding extraordinary charges, Oracle's $0.37 per share in the quarter beat estimates by analysts polled by Thomson Financial, who had forecast $0.35 per share. Oracle shares jumped $0.53 to close at $19.69 on Wednesday, a day after the earnings report, and continued strong. Over the last three years, including theÂ PeopleSoft deal, Oracle has made about 30 purchases for approximately $25 billion. For example, business intelligence software maker Hyperion,Â a recent acquisition, added $43 million to Oracle's new license revenue in the quarter. Oracle is now going after companies that will help the company target sales in vertical markets. On the post-earnings report conference call with analysts, CEO Larry Ellison said that Oracle will continue its acquisition strategy. Meanwhile, Google continues to break records and expectations. Brokerages, including Oppenheimer & Co., Sanford C. Bernstein & Co., and JMP Securities,Â issued bullish analysis reports this weekÂ and raised share-price targets after seeing the company's share price rise about 15 percent over the last quarter. As Google continues to dominate search advertising, however, it has also spent lavishly on R&D, technology infrastructure and acquisitions. Though profit has been great, the spending has sparked some debate. But this week, JMP's Bill Morrison added a new twist to conventional thinking, writing in a research report that the capital expenditures have given Google a cost-efficient technology platform. This platform gives Google an ongoing cost advantage over competitors, he said. After the report, Google shares hit their highest close on Tuesday since the company's 2004 IPO, although they drifted down over the next few days. In the chip sector, a price war between Intel and AMD, coupled with expectations for a soft PC market this year, has caused concern. But some new reports and forecasts have cheered investors lately. Lehman Brothers raised its rating on Intel this week to "overweight" from "equal weight." Lehman analyst Tim Luke cited new product cycles, progress on restructuring, and a reasonable share valuation. The report echoed a similar research paper issued by brokerage Stifel Nicolaus and Co. last week, only that one was directed at AMD. Meanwhile, GartnerÂ said this week that worldwide personal computer shipments are projected to rise 11.1 percent in 2007, higher than previously expected. PC shipments are estimated to increase to 257.1 million from 231.5 million a year earlier as sales in emerging markets grow, Gartner said, in the wake of a similar report several weeks ago from IDC. The news caused shares of Intel and AMD to spike. Intel shares closed at $23.79 Wednesday, up by $0.41, and continued strong Thursday. AMD also spiked on Wednesday, though lost some ground later in the week.
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Business software maker  PeopleSoft Inc. on Saturday said its board again rejected  Oracle Corp.'s $9.2 billion tender offer, remaining defiant a  day after most of its shares were tendered to Oracle.
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PLEASANTON, California - PeopleSoft Inc.&#39;s board yesterday rejected Oracle Corp.&#39;s $9.2 billion takeover bid, continuing its resistance after the company&#39;s own shareholders tendered more than 60 percent of their stock to Oracle.
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At its user conference on Wednesday, Oracle (Profile, Products, Articles) continued sending mixed messages to PeopleSoft (Profile, Products, Articles) customers concerned