US STOCKS-Futures rise on Oracle’s upbeat view; techs eyed


 * Oracle signals strong tech spend, shares rise
 * Final reading on Q4 GDP on tap
 * Futures up: S&P 3.5 pts, Dow 46 pts, Nasdaq 8 pts
 * For up-to-the-minute market news see [STXNEWS/US]
  (Adds byline, quote)
 By Angela Moon
 NEW YORK, March 25 (Reuters) - U.S. stock index futures
rose on Friday, supported by technology shares after Oracle
gave an upbeat forecast.
 Wall Street analysts boosted their price targets on Oracle
Corp (ORCL.O: Quote, Profile, Research) shares after the business software maker late
Thursday forecast a rise in sales of new software in its fiscal
fourth quarter. The optimistic view fueled hopes that a global
resurgence in technology spending remained intact.
 The stock rose 4.7 percent at $33.66 in premarket trade.
For details, see [ID:nL3E7EP1HG] and [ID:nN24301684]
 BlackBerry maker Research In Motion Ltd (RIM.TO: Quote, Profile, Research)(RIMM.O: Quote, Profile, Research),
however, said earnings would slip as it spends heavily on the
launch of its PlayBook tablet, sending its stock down 12.1
percent at $56.35 premarket. [ID:nN24175647]
 On the economic front, investors will keep an eye on the
final reading of fourth-quarter gross domestic product at 8:30
a.m. EDT (1230 GMT). Economists in a Reuters survey expected a
reading of 3.3 percent, compared with a preliminary 2.8
percent.
 The Thomson Reuters/University of Michigan consumer
sentiment survey is due at 9:55 a.m. EDT (1355 GMT).
 S&P 500 futures (SPc1: Quote, Profile, Research) were up 3.5 points, and above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures (DJc1: Quote, Profile, Research) gained 46
points, and Nasdaq 100 futures (NDc1: Quote, Profile, Research) rose 8 points.
 Further gains above the widely watched S&P 500 resistance
level of 1,300 "is likely to trigger more buying heading into
quarter-end (and) into the first few weeks of April," said
Robert Sluymer, an analyst at RBC Capital Markets LLC in New
York.
 U.S. stocks rose Thursday on optimism about upcoming
earnings and as investors bought the quarter's top performers,
lifting the S&P 500 above the technical level. The S&P 500 is
up 2.5 percent so far this week, and the Dow has gained 2.6
percent. Nasdaq has put on 3.5 percent.
 Standard & Poor's downgraded Portugal's credit ratings two
notches to its second lowest investment grade rating and said
it could cut again by one notch as early as next week,
depending on the final shape of the euro zone bailout fund. S&P
followed a two-notch cut by Fitch. [ID:nL3E7EP027]
  (Reporting by Angela Moon; editing by Jeffrey Benkoe)






US STOCKS-Futures rise on Oracle’s upbeat view; techs eyed