Market Updates: Oracle Corporation (NASDAQ:ORCL), Sun Microsystems (NASDAQ:JAVA), Macy’s Inc. (NYSE:M), J.P. Morgan Chase (NYSE:JPM)

The U.S. Justice Department took Oracle Corporation (NASDAQ: ORCL) to court roughly five years ago to block its acquisition of PeopleSoft, only to lose. Now, Oracle has indirectly created a new headache for the regulator. The European Commission’s recent objections to Oracle’s planned merger with Sun Microsystems Inc. has some drawing comparisons to the legendary spat between U.S. and European regulators over the scuttling of General Electric (NYSE: GE) bid to buy Honeywell International (NYSE: HON) in 2001. It’s also raising questions about efforts since then to harmonize merger decisions on either side of the Atlantic. AOL lays off roughly 100 employees. Plus, Droid sells well and the EU objects to Oracle’s proposed acquisition of Sun (Nov. 10). The Justice Department cleared Oracle’s proposed merger with Sun Microsystems (NASDAQ: JAVA) in August. -MarketWatch

Department store chain Macy’s Inc. (NYSE: M) reported a narrower than expected quarterly loss on Wednesday, pointing to strong sales at its Bloomingdale’s stores and online activity. Macy’s net loss narrowed to $35 million, or 8 cents a share, in the third quarter ended October 31, from $44 million, or 10 cents a share, a year earlier. Excluding one-time items such as $205 million in restructuring costs, it posted a loss of 3 cents a share. Macy’s reported sales fell 3.9 percent to $5.28 billion in the third quarter. Analysts had been expecting an average loss of 7 cents per share and sales of $5.25 billion during the quarter. –Reuters

U.S. Treasury Secretary Timothy Geithner stated today that maintaining a strong dollar is "very important" for the country’s economy, sticking to his mantra on foreign-exchange policy as the USD continues its broad downtrend. "I believe deeply that it’s very important for the U.S. and the economic health of the U.S. that we maintain a strong dollar," he said at a roundtable discussion with Japanese reporters. "We bear special responsibility for trying to make sure that we are implementing policy in the U.S. that will sustain confidence not just among American investors and savers, but investors around the globe –The Wall Street Journal

J.P. Morgan Chase (NYSE: JPM) has cut its rating on meat producer Tyson Foods Inc. (NYSE: TSN) to neutral from overweight, noting that it believes upside for the shares is already priced in. -MarketWatch

-Jutia Group