Oracle Corporation (NASDAQ: ORCL)� shares moved toward 3% gains this morning, trading at $31.02 mid-morning.� The stock is currently trading below its 50-day and above its 200-day moving average. Year-to-date, Oracle shares are down 1.76%. In the last one year, the stock gained 20.73%, outperforming the NASDAQ that gained 11.23% in the same period.
Oracle will announce its third-quarter financial results on March 24, 2011. The company�s shares are expected to remain in focus ahead of the third-quarter earnings release.
Earlier today, Citigroup reiterated its Buy rating on shares on Oracle Corporation. In its research note to clients, Citigroup mentioned Oracle stock is currently trading at a 4% premium to the S&P 500, closer to its historical 10%-25% premium as concerns around the Sun acquisition dissipated and investors look to areas such as applications software appliances to drive growth in the recovery. Citi expects the company to drive meaningful upside to the consensus numbers. Citi has a price target of $34 on the Oracle stock.
On Wednesday, Oracle announced that its Oracle� WebLogic Server 11g along with Oracle Database 11g Release 2, and Oracle Linux running on Cisco Unified Computing System B440 M1 Blade Servers achieved a world record result SPECjEnterprise2010 industry standard benchmark.
Oracle is a Redwood City, California-based enterprise software company, engaged in the development, manufacturing, marketing, distribution and servicing of database and middleware software, applications software and hardware systems, consisting mainly of computer server and storage products.
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