Market Minute: Markets Poised for a Rebound; Oracle Set to Tumble

×
Stocks look to rebound, but Oracle is set to tumble. Those and more are what's in business news Friday.

Investors are worried about rising interest rates now that the Federal Reserve is ready to start draining the punch bowl of the stimulus that has fed the market rally during the past year.

The Dow industrials (^DJI) plunged 353 points Thursday. That's the biggest one-day drop in 19 months and it brings the two day loss to 560 points. The S&P 500 (^GSPC) lost 40 points and the Nasdaq (^IXIC) slid nearly 78.
larry ellison ceo oracle computer software earnings stocks
Justin Sullivan/Getty ImagesOracle Corp. CEO Larry Ellison


Oracle's stock is set to drop even though the software maker posted a 10 percent earnings increase, hiked its dividend and announced a big stock buyback. But investors are focused on revenue, which was flat compared to a year ago. Oracle (ORCL) also said it plans to move its stock listing from the Nasdaq to the New York Stock Exchange beginning July 15.

Darden Restaurants (DRI) net fell 11 percent, but sales were better than expected at its Red Lobster and Olive Garden chains.

Score one for Apple (AAPL) in its long-running battle with Samsung. A court in Tokyo ruled the South Korean firm infringed on an Apple patent covering the "bounce-back" feature Apple uses on email displays.

Clearwire (CLWR) is switching sides in the heated takeover battle for the company and its valuable wireless spectrum. The company now backs a sweetened bid from Sprint Nextel (S) that values the company at $14 billion. That tops the offer from Dish Network (DISH) by 14 percent, an offer that Clearwire had previously endorsed.

Discount retailer Ross Stores (ROST) has agreed to pay a $3.9 million fine for continuing to sell defective children's clothing after a federal agency warned of the dangers. The Consumer Product Safety Commission said the penalty is the second largest in its history.

Walt Disney (DIS) is hoping for its third blockbuster movie of the year with today's release of "Monsters University," the prequel to "Monsters Inc." That film earned more than $560 million in worldwide ticket sales.

And if there wasn't enough volatility already in the market, there's this: Today is what's known as "quadruple witching" day, when stock and index futures and options all expire on the same day. So buckle up.

-Produced by Drew Trachtenberg


Increase your money and finance knowledge from home

Understanding Stock Market Indexes

What does it mean when people say "the market is up 2%"?

View Course »

Finding Stock Ideas

Learn to do your research and find investments.

View Course »

Add a Comment

*0 / 3000 Character Maximum

14 Comments

Filter by:
beavis

Yeah gov stops buying bonds in a year or so this market will tank below the days of Bush.

June 21 2013 at 12:42 PM Report abuse rate up rate down Reply
thefacts22

It is a gamble Casino,I KNOW their games....I bought some yesterday sold today......They know the Market will collapse no matter what...There is no rebound,it is all smoke and mirrors...Bernanke will not stop,the 85 bil for a while longer,but the interest will "have to go up.....Oba is an inept in economy and follows Krugman advise.....Prices will not return to normal...If you have a 401K and are allowed to pick,stick ONLY with off-shore invesments...for a while

June 21 2013 at 11:47 AM Report abuse rate up rate down Reply
R. D. HARDIN SR.

Who gonna pay back 10 trillion dollars feds have invested in taxes payer money to make rich richer ! well cutting out free luch in mess halls and parks close ?

June 21 2013 at 11:43 AM Report abuse rate up rate down Reply
R. D. HARDIN SR.

no middle clas person is ever gonna get rick play stock market it a large volume game if you got million to sit on it will rise and fall but if you playing with thosands it just slowly drains your cash like rocky at poker table ! your better off paying off your
house or high interest cards that play stock market

June 21 2013 at 11:40 AM Report abuse rate up rate down Reply
chandlerrcsc

The FED is ready to drain the punch bowl of IRA investments. The DJI plunged to the S&P over the low of the GPSC. This caused a run on the bull **** at the Nasdaq then slid into a revolution of 50.000 people attacking Wall-Street with ball bats causing Wall-Mart. to take over the market. and the country. And good news is you can still buy a house in Phoenix 41% under market value.

June 21 2013 at 11:37 AM Report abuse rate up rate down Reply
setanta54s_back

""""""poised""""" for a rebounD ????????????

when will folKKs wake UP and see fraud street for WHAT IT IS ?
nothing more than a RIGGED set-up.

June 21 2013 at 11:36 AM Report abuse rate up rate down Reply
julia smith

te best time to be on the vestment mk is 30 min then sell and rip your invesrment in cash. each dat do the sae thing. if possable.

June 21 2013 at 10:30 AM Report abuse -1 rate up rate down Reply
pjgblg

Just wish I had new money to invest yesterday. Sale over, prices to return to normal....again

June 21 2013 at 9:41 AM Report abuse rate up rate down Reply
1 reply to pjgblg's comment
thefacts22

Sorry pjb......this is not rebound......This up and down is classical......There is not going to be much going until oba ends his regime......the debt battle is coming..and it will get nasty

June 21 2013 at 11:51 AM Report abuse rate up rate down Reply
sandi

now the question arises wheather the growth in buisness outlook is indemic or the result of the feds dumping money into the system to the tune of 10 Tril these last 4 years

June 21 2013 at 9:32 AM Report abuse +3 rate up rate down Reply
1 reply to sandi's comment
thefacts22

sandi.....I guess "you know"that our economy is really sick.......Only a FEW hand pick states are doing good.......oba,s policies are setting USA into an unsustainable path

June 21 2013 at 11:56 AM Report abuse rate up rate down Reply
maozebama

Plunge? Oh the humanity! Or, should I say, Oh the Hyperbole!

June 21 2013 at 9:22 AM Report abuse rate up rate down Reply