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Morgan Stanley Adjusts Outlook for Oracle

Morgan Stanley DW adjusted its outlook on Oracle (ORCL).

Analyst Chuck Phillips commented on the software company's Q3 ending Feb. 28, saying its applications division is doing well. He notes the high expectations for a new product, which Oracle is using internally. However, he cut the growth forecast for the company's database-license revenue because of last year's dot-com exposure. He maintained his EPS estimates. Phillips doesn't expect breakout results in Q3, but anticipates acceleration in Q4. He maintained his strong buy rating on the shares.

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