CORRECTED-US STOCKS-Oracle sends Wall St Higher; volume weak

 (Corrects time period of S&P's best performance in third
paragraph)
 * Tech gains as Oracle outlook signals strong IT spending
 * BlackBerry maker RIM slips after disappointing outlook
 * U.S. revises upward Q4 GDP final read to 3.1 pct
 * Dow up 0.4 pct, S&P up 0.3 pct, Nasdaq up 0.2 pct
 * For up-to-the-minute market news see [STXNEWS/US]
 By Chuck Mikolajczak
 NEW YORK, March 25 (Reuters) - Wall Street advanced for a
third straight day on Friday, giving the S&P its best weekly
performance since early February, but volume remained light as
global uncertainty persisted.
 The three major stock indexes posted weekly gains after two
straight weeks of declines brought on by the Japan earthquake,
turmoil in the Arab world and a resurfacing of European debt
problems.
 Helped by a rise in tech shares after an upbeat outlook
from Oracle Corp, the S&P notched its best week in the past
seven. But low volume, and the market's uncanny ability to
withstand bad news, spurred questions about the rally's
strength.
 "Overall, I keep looking at the pluses and minuses and this
week has been spectacular with respect to everybody ignoring
the minuses," said Kim Caughey Forrest, senior equity research
analyst at Fort Pitt Capital Group in Pittsburgh.
 The CBOE Volatility index posted its second-worst 7-day run
as investors shed anxieties about the global tumult.   
 Friday's trading volume of 6.56 on the New York Stock
Exchange, NYSE Amex and Nasdaq billion was weak, with Friday's
session the second-lowest of the year, pointing to a lack of
conviction. Daily average volume is 8.04 billion.
 Oracle Corp (ORCL.O: Quote, Profile, Research) climbed 1.6 percent to $32.64 and was
the Nasdaq's most actively traded name a day after forecasting
a rise in new software sales for its current fiscal quarter.
The outlook fueled hopes that a global resurgence in tech
spending remains intact, prompting at least 12 brokerages to
raise their price targets on the stock. For details, see
[ID:nL3E7EP1HG] and [ID:nN24301684]
 The S&P technology index (.GSPT: Quote, Profile, Research) rose edged up 0.2 percent
on Friday, and is up 3.3 percent so far this quarter.
 In a further boost to techs, Accenture (ACN.N: Quote, Profile, Research) rose 4.5
percent to $54.29 after the technology outsourcing and
consulting company raised its outlook. [ID:nN24180187]
 The Dow Jones industrial average (.DJI: Quote, Profile, Research) gained 50.03
points, or 0.41 percent, to 12,220.59. The Standard & Poor's
500 Index (.SPX: Quote, Profile, Research) rose 4.14 points, or 0.32 percent, to
1,313.80. The Nasdaq Composite Index (.IXIC: Quote, Profile, Research) added 6.64 points,
or 0.24 percent, to 2,743.06.
 For the week, the Dow gained 3.1 percent, the S&P climbed
2.7 percent and the Nasdaq advanced 3.8 percent.
 On the downside in tech shares, BlackBerry maker Research
In Motion Ltd (RIM.TO: Quote, Profile, Research)(RIMM.O: Quote, Profile, Research) said earnings would slip as it
spends heavily to launch its PlayBook tablet. The company's
U.S.-listed shares sank 11.2 percent to $56.89.
[ID:nN24175647]
 The U.S. economy grew more quickly than previously
estimated in the fourth quarter of 2010 as businesses restocked
shelves to meet rising demand. [ID:nN25243056]
 U.S. consumer sentiment in March fell to its lowest level
in more than a year as gasoline and food prices rose, according
to the latest consumer survey from Thomson Reuters and the
University of Michigan. [ID:nLDE72O1GZ]
 Advancing stocks outnumbered declining ones on the NYSE by
1,969 to 1,015, while on the Nasdaq, advancers beat decliners
1,515 to 1,092.
 (Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)







CORRECTED-US STOCKS-Oracle sends Wall St Higher; volume weak