New York, NY -- (SBWIRE) -- 03/21/2013 -- Three analysts reduced their ratings/target prices on Oracle Corporation (NASDAQ:ORCL), with Wedbush cut its target price to $36 from $37, and Credit Agricole slashing its rating to "underperform" from "outperform" as well as lowering its target price to $35 from $38. Stifel also reduced its target price from $1 to $37, but kept its rating a "buy." The new ratings come on the heels of Oracle's earnings miss yesterday -- the company announced profits of 65 cents a share as compared with the 66 cents predicted by analysts. But technically, Oracle has been on a steady climb since last May, when it hit is annually low. The stock is up 21.6% year over year, and has risen 7.3% so far this year. And option traders don't appear to agree with the bearish outlook on ORCL -- the stock's Schaeffer's put/call open interest ratio (SOIR) stands at 0.53, which is the lowest it's been all year. That means call open interest is at its highest point it has been all year as compared with put open interest for options set to expire in the next three months.
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Jabil Circuit, Inc. (NYSE:JBL)reported a decline in second quarter profit due to higher-than-expected costs. Adjusted net income missed Wall Street expectations, while revenue topped views.
The company’s quarterly revenue did rise about 4% to $4.42 billion, up from $4.24 billion in the same quarter last year. Analysts were expecting Jabil to see $4.38 billion in revenues.
Looking forward to the third quarter, Jabil is expecting to earn 40 cents to 48 cents per share, with adjusted earnings per share between 50 cents and 58 cents; revenue is expected to be between $4.3 billion and $4.5 billion. However, this is below analysts’ expectations of the company earning 61 cents per share on revenue of $4.52 billion.
Jabil Circuit shares were down 49 cents, or -2.52%, during pre-market trading on Thursday. The stock is down -27.37% over the past year.
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Pacific Sunwear of California Inc. (NASDAQ: PSUN) had a loss and missed Wall Street’s expectations, BUT beat the revenue expected. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.41%. Adjusted Earnings Per Share increased to $-0.17 in the quarter versus EPS of $-0.19 in the year-earlier quarter. Rose 19.33% to $228.03 million from the year-earlier quarter. Pacific Sunwear of California Inc. reported adjusted EPS loss of $0.17 per share. By that measure, the company missed the mean analyst estimate of $-0.16. It beats the average revenue estimate of $227.86 million.
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IHS Inc. (NYSE: IHS), the leading global source of information and analytics, today reported results for the first quarter ended February 28, 2013.
- Revenue of $383 million, up 12 percent from the prior-year period.
- Organic revenue growth rate of five percent overall, including eight percent for subscription-based business.
- Adjusted EBITDA of $118 million, or 30.9 percent of revenue.
- Non-GAAP earnings per diluted share (adjusted EPS) of $0.86, up 12 percent from the prior-year period.
- Adjusted free cash flow of $112 million, up 47 percent from the prior-year period.
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