Oracle Corporation (NASDAQ:ORCL): First FedEx, Now Oracle! Trouble Ahead for Earnings Season

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March 21, 2013 3:05pm NASDAQ:QQQ NYSE:DIA

oracleLost in the shuffle of new highs and Bernanke testimony on Wednesday were a one-two punch of earnings misses from FedEx Corporation(NYSE:FDX) and Oracle Corporation (NASDAQ:ORCL). Both companies rely on corporate spending; a fact that

was supposed to be a selling point early this year as corporate America loosened its purse strings and stopped sitting on all that balance sheet cash.

Based off FDX and ORCL, the spending isn’t happening. Is it too early to be concerned? Jon “Dr. J” Najarian, co-founder of says no. “It’s a trade down time,” he says in the attached clip. Firms are still cutting corners wherever they can; a practice that seems so last year, but is lingering into first quarter.

The markets are shaking it off thus far, punishing the stocks themselves but leaving the broader market momentum intact. Najarian isn’t counting on that resiliency to last unless earnings improve.

You can see the full “Breakout” segment below:

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