Oracle shares fall after profit warning

Oracle shares fell on Monday after a it warned that its third quarter earnings would fall short of expectations. It said that it expected Q3 earnings of 9 cents a share compared with 10 cents a share earned in the same quarter last year.

CEO Larry Ellison said that while software sales increased slightly in Europe and the US this was enough to make up for the fall in sales in Asia. Some analysts say that the company is also suffering because its prices are not competitive enough. After closing on Friday at $ 15.99 shares fell on Monday to close at $13.67.