Oracle dips after disappointing sales

Shares of Oracle Corp. fell Thursday morning after its first-quarter results gave little sign of a spending pickup among businesses.

The stock was down 3.2%.

Late Wednesday, the corporate-software giant /quotes/comstock/15*!orcl/quotes/nls/orcl (ORCL 21.58, -0.56, -2.51%) said sales slipped in its typically slow fiscal first quarter, but the company managed to cut costs and report a profit that generally met Wall Street's expectations.

Some analysts remained fairly optimistic about Oracle's prospects, however, in notes to clients on Thursday morning.

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- Posted: 2009-09-17 11:31:37

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