Oracle miss sparks Wall St fears of spending cuts

(Reuters) - Oracle Corp's dismal quarterly results sent shock waves across the technology sector as investors feared they may have overestimated the resilience of corporate tech spending in a deteriorating global economy. The first earnings miss in a decade from Oracle, whose fiscal second quarter ended on November 30, drove its shares down more than 11 percent on Wednesday, destroying about $20 billion of market value. The shortfall from the No. 3 software maker also hit shares of many other technology companies, with VMware Inc, NetSuite Inc, and SAP among those suffering the biggest losses. ...