Oracle Shares Slip

GM reportedly in talks to sell mortgage unit; Coca-Cola announces restructing of overseas groups; plus more of Wednesday's stocks in the news

Oracle Corp. (ORCL ) shares moved lower Wednesday after the database software company posted 16 cents, vs. 12 cents third-quarter earnings per share (non-GAAP) on a 23% revenue rise. The company raised its fiscal 2005 earnings per share guidance to 64 cents to 65 cents from 62 cents.

General Motors (GM ) is in talks with private equity and other financial firms over selling its stake in its GMAC Commercial Mortgage subsidiary. The deal could raise as much as $1 billion, according to people familiar with matter, says the Wall Steet Journal.

Coca-Cola (KO ) slipped after it announced the restructuring of its groups in Europe, Asia, and the Middle East for marketing and growth initiatives.

XM Satellite Radio (XMSR ) and Hyundai Motor America, announce Hyundai will be the first automaker to launch XM as standard, factory-installed equipment in every vehicle across its entire model line-up.

Boeing (BA ) and Gol Linhas Aereas Inteligentes, Brazil's low-fare, low-cost airline, sign a contract to exercise four more purchase options for 737-800 Next Generation aircraft.

Bank Of America (BAC ) approves an additional 200 million share buyback.

Aeterna Zentaris (AEZS ) receives Colombian Food and Drug Agency approval for its Impavid to treat a cutaneous form of leishmaniasis.

C-Cor Inc. (CCBL ) sees 34 cents to 38 cents third-quarter loss on lower-than-expected sales of $47 million to $49 million. The company cites greater-than-expected purchase accounting adjustments to deferred revenue related to its nCUBE acquisition and new customer orders being received late in the quarter.

Bombay Company (BBA ) posted 20 cents, vs. 34 cents fourth-quarter earnings per share on a 7% same-store sales decline and a 4% total sales decline. The company sees 2 cents to 8 cents fiscal 2006 earnings per share on same-store sales rise in the low to mid-single digit range.

H.B Fuller (FUL ) posted 22 cents, vs. 16 cents first-quarter earnings per share on an 11% revenue rise.

Sonic Corp. (SONC ) posted 20 cents, vs. 16 cents second-quarter earnings per share on 7% higher same-store sales and 19% higher revenue. The company raises same-store sales growth target for the second-half of fiscal 2005 to 4% to 6%. It expects third-quarter net income to rise 18% to 20% and should translate into 36 cents earnings per share.

Before it's here, it's on the Bloomberg Terminal.