Stocks rise as Oracle deal cheers investors

Investors pushed stocks substantially higher today as Wall Street greeted the Oracle-PeopleSoft merger and a climb in retail sales as signs of continued economic improvement.

Stocks rise as Oracle deal cheers investors
Mon, 13 Dec, 2004 - 22:57

Investors pushed stocks substantially higher today as Wall Street greeted the Oracle-PeopleSoft merger and a climb in retail sales as signs of continued economic improvement.

Oracle Corp. announced that PeopleSoft Inc. would accept a 26.50 dollar (€19.91) per-share bid, valuing the rival software company at 10.3 billion dollars (€7.74 billion).

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CourtsBusinessHeathrowPlace: Wall StreetPerson: Bryan PiskorowskiPerson: Bill GroenveldOrganisation: OracleOrganisation: Wall StreetOrganisation: PeopleSoftOrganisation: Oracle Corp.Organisation: PeopleSoft Inc.Organisation: Wachovia SecuritiesOrganisation: NasdaqOrganisation: New York Mercantile ExchangeOrganisation: Federal ReserveOrganisation: vFinance InvestmentsOrganisation: Sprint Corp.Organisation: Nextel Communications Inc.Organisation: Verizon Communications Inc.Organisation: NextelOrganisation: SprintOrganisation: VerizonOrganisation: Honeywell Inc.Organisation: HoneywellOrganisation: Novar PLCOrganisation: Boeing Co.Organisation: US Air ForceOrganisation: New York Stock Exchange
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