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Oracle catches Street off guard and spins

SAN FRANCISCO (MarketWatch) -- Oracle Corp. caught investors off guard on Monday with its surprise release of its fiscal fourth quarter earnings, a move that seemed to be geared at calming investors nervous the reported departure of the company's top sales executive.

Earlier on Monday, Oracle's share fell 2.1% on reports that Oracle's (ORCL) executive vice president of sales, Keith Block, was leaving after a disparaging instant message conversation was disclosed in Hewlett-Packard Co's (HPQ) breach of contract lawsuit against the software giant. In that conversation, Block said Sun's hardware business, now part of Oracle, "baaaallllooooooows," calling it a "Pig with lipstick." Read more about Block's IMs.

In the call, company executives didn't provide much of an explanation as to why the call was three days ahead of schedule, and co-president Safra Catz, who normally runs the call in a smooth manner, seemed flummoxed at times and not her usually organized self.

That said, the company's fiscal fourth quarter was better than expected. Read about Oracle's earnings.

Co-president Mark Hurd also hammered home the point that Oracle's sales force was in great shape, without directly confirming the news about Block. "There are no changes to our tech or hardware sales forces, no changes in any other geographies," Hurd said.

Block headed up Oracle's overall North American sales and consulting, and reports are that he has left the company. "Field and sales attrition are down materially over the past couple of years. Better news, attrition amongst our top performers is down materially as well."

In after-hours trade, investors seemed temporarily appeased by the news. Oracle's shares tacked on 3.2% to $28.00. Still, Block's colorful comments are now part of the vocabulary around Oracle, and all the huffing and puffing by Hurd and Chief Executive Larry Ellison will do little to eradicate them.