On March 15, shares of Oracle surged after the company plowed past Wall Street estimates and reported strong database software sales fueling a solid third-quarter profit. However, Oracle has also confirmed that it is refocusing its European applications division and has hinted that it may reduce the unit's workforce.
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estimates and reported strong database software sales fueling a solid third-quarter profit. Shortly after the opening bell, Oracle shares jumped $3.69, or nearly 5 percent, to $80.69, on heavy volume of 12.7 million shares. The company also got an early boost from investment firms, which raised their price targets and earning forecasts following yesterday's strong earnings report. Oracle posted adjusted net income of $498 million, or 17 cents per share, for the third quarter, an 80 percent jump over