Oracle Corp

Oracle Corp.'s $9-million settlement to resolve claims that it improperly denied overtime pay to workers was rejected by a federal judge who said it was unfair to employees and a "bonanza" for Oracle and the workers' lawyers. U.S. District Judge William Alsup in San Francisco said the proposed accord, which includes $2.25 million in attorney fees, didn't provide adequate notification to hundreds of Oracle's U.S.

Oracle Corp. fared better than analysts anticipated in its second quarter, easing worries that the sagging U.S. economy would curtail corporate spending on technology and drag down the business software maker. The Redwood Shores, Calif.-based company earned $1.3 billion, or 25 cents a share, in the three months ended Nov. 30, a 35% increase from $967 million, or 18 cents a share, in the same quarter last year.

Business software maker Oracle Corp. said Thursday that it would cut about 2,000 jobs, or more than 3% of its workforce, after its recent $5.85-billion takeover of Siebel Systems Inc. Redwood Shores, Calif.-based Oracle inherited 4,700 Siebel workers in the acquisition, but most of the cuts will be concentrated among employees on the company payroll before the deal closed last week, Chief Executive Larry Ellison told analysts during a conference call.

Oracle Corp. said Thursday that fiscal fourth-quarter profit and revenue would exceed forecasts on soaring sales of database licenses. In a preliminary earnings statement, the software maker said profit rose to 24 cents a share, topping the company's forecast of 21 cents to 23 cents. Sales grew 25% to $4.85 billion in the period ended May 31, exceeding the Redwood Shores, Calif.-based company's previous forecast of 13% to 17%.

Business software maker Oracle Corp. said Thursday that fiscal fourth-quarter profit rose 27% as sales surged across most of its business lines and geographic regions. Net income for the three months ended May 31 rose to $1.3 billion, or 24 cents a share, compared with $1.02 billion, or 20 cents, in the same quarter last year. Revenue grew 25% to a record $4.85 billion from $3.88 billion. The results were largely in line with estimates issued last week, when the Redwood Shores, Calif.

Oracle Corp. will announce layoffs at PeopleSoft Inc. as soon as Friday to integrate the recently acquired company into the world's second-largest business software maker, Oracle's chief financial officer said Tuesday. "On the personnel front, our goal is to get integration done this month," Harry You said at an investors conference in New York. "It would be literally in the next few days."

Oracle Corp. has agreed to pay $8 million to settle a whistle-blower lawsuit that claimed the Redwood City, Calif.-based software maker fraudulently billed the federal government for computer training from 1997 through 2003. The whistle-blower, Robert J. Makheja of McLean, Va., is a former Oracle vice president. He will receive $1.58 million from the settlement.

Oracle Corp. said Tuesday that it had agreed to buy closely held ProfitLogic Inc., its second acquisition this year to increase sales of business programs used by retailers. Terms weren't disclosed. ProfitLogic's software analyzes customer demand to help retailers make inventory, pricing and merchandise decisions, Redwood City, Calif.-based Oracle said. ProfitLogic's customers include Bloomingdale's Inc. and Gap Inc.