Oracle shares jump on strong earnings

Shares of Oracle Corp. opened up by 5.5 percent on Friday after the software giant posted a 28 percent increase in earnings and a 47 percent increase in revenue in its fiscal second quarter.

Oracle started the day at $31.92 a share and hit a 52-week high of $31.97 soon after. It has risen 50 percent since hitting a 52-week low of $21.24 in July.

On the conference call after posting results on Thursday, CEO Larry Ellison took the opportunity to take another swipe at Hewlett-Packard Co. (NYSE:HPQ), a frequent target in recent months.

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- Posted: 2010-12-17 09:52:25

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