Evercore and CLSA have downgraded Oracle (ORCL -8.8%) following its FQ3 miss and light top-line...

|About: Oracle Corporation (ORCL)|By:, SA News Editor

Evercore and CLSA have downgraded Oracle (ORCL -8.8%) following its FQ3 miss and light top-line guidance. The numbers have many worried about the impact of cloud apps ... and not just on application software sales. "As customers move to the cloud, you get a lot of the functionality consolidated ... so you need less hardware and less databases and middleware," says Pac Crest. UBS is still bullish: "Historically when they have a miss it’s a great time to buy." Interestingly, cloud rivals are higher - WDAY +1.4%, CRM +0.4%, N +1.2% - even as other peers follow the tech sector lower. IBM -1.6%. INFA -1.6%. RHT -1.1%. (transcript)