Oracle Slides on Database Sales Fears

Oracle Corp. shares tumbled 12% amid concern that database sales at the world’s No. 2 software maker could slow, analysts said. Oracle fell $9.25 to close at $69.50 in Nasdaq trading. Oracle shares are down 24% since the end of August. Oracle Chief Financial Officer Jeff Henley told analysts that sales growth--particularly of its flagship product database software that helps companies manage large reams of data--would slip this quarter from last quarter and only begin picking up next year. Database sales will drop this quarter from the 32% year-over-year growth posted last quarter, Henley said. Oracle this week unveiled its latest database, dubbed 9i, and said the new product would be available for sale sometime during the first half of 2001. That delay could lead some customers to delay database purchases until the new model was available, slowing revenue growth, analysts said.