NEW YORK, NY / ACCESSWIRE / June 27, 2017 / The Dow and S&P 500 eked out modest gains on Monday, despite a poor performance from the technology sector. The Dow Jones Industrial Average gained 0.07 percent to close at 21,409.55, while the S&P 500 Index rose 0.03 percent to close at 2,439.07. The tech-heavy NASDAQ Composite Index declined 0.29 percent to close at 6,247.15. The S&P 500 has gained approximately 8.9 percent in the first half of 2017. Some analysts are still predicting the upward trend to continue in the second half of 2017.

"When the 500's first-half price gain was between 7% and 12%?the market went on to record an average price rise of 5.1% during the second half and posted a positive performance an above-average 87% of the time," wrote CFRA's Chief Investment Strategist, Sam Stovall.

RDI Initiates Coverage on:

Micron Technology, Inc.
https://ub.rdinvesting.com/news/?ticker=MU

Oracle Corp.
https://ub.rdinvesting.com/news/?ticker=ORCL

Micron Technology's shares gained 2.43 percent to close at $32.50 a share on Monday. The stock traded between $31.95 and $32.96 on volume of 34.75 million shares traded. Analysts at Cowen currently have an "outperform" rating on the company and have recently raised its price target on the stock to $38 from $34. Micron Technology is scheduled to release results for the third quarter of fiscal 2017 on Thursday, June 29th. An earnings conference call has been scheduled for the same day at 2:30 p.m. MDT. Shares of Micron Technology have gained approximately 48.27 percent year-to-date.

Access RDI's Micron Technology Research Report at:
https://ub.rdinvesting.com/news/?ticker=MU

Oracle's shares declined 0.18 percent to close at $50.86 a share on Monday. The stock traded between $50.77 and $51.70 on volume of 29.45 million shares traded. Analysts at Argus and Wedbush have both recently upgraded the company's rating to "buy" and "outperform", respectively. Oracle's Cloud SaaS service segment registered 61 percent year-over-year growth and reported $3.2 billion contribution in total revenue for the full year fiscal 2017. Oracle has reported net Income of $9.3 billion or $2.21 a share for the fiscal 2017. Shares of Oracle have gained approximately 32.28 percent year-to-date.

"We sold $855 million of new annually recurring cloud revenue (ARR) in Q4, putting us over our $2 billion ARR bookings goal for fiscal year 2017," said Oracle CEO, Mark Hurd. "We also delivered over $1 billion in quarterly SaaS revenue for the first time. Next year is going to be even better. We expect to sell a lot more than $2 billion in new cloud ARR in fiscal year 2018."

Access RDI's Oracle Research Report at:
https://ub.rdinvesting.com/news/?ticker=ORCL

Our Actionable Research on Micron Technology, Inc. (NASDAQ: MU) and Oracle Corp. (NYSE: ORCL) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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