March 20, 2009 – The Battle Road Tech Index™ rose 3 percent for the week ended March 20, 2009, closing at 1046. Year-to-date, the index is up 4.6 percent, having started at a value of 1000.

The following companies were notable movers for the week:

Oracle (NASDAQ: ORCL) gained 9.9 percent over the week after reporting a solid quarter on Thursday, with software licenses ahead of analysts’ expectations as well as expanding operating margins and continuing share buybacks. Though its May quarter guidance was below the street’s expectations, the company also announced that it would pay its first ever dividend, a move that is likely to attract new investors.

Shares of Adobe Systems (NASDAQ: ADBE) rose 9.5 percent this week after reporting better than expected EPS for its first quarter, which it announced on March 17. While it issued a wide band of revenue and earnings guidance for Q2, from $675 million to $725 million and $0.31 to $0.38 respectively, the upper limits clear analyst expectations by $31 million and $0.03.

SAP (NYSE: SAP) shares rose 7.7 percent for the week. The company benefited from a late week rally following Oracle posting better than expected earnings. Investors are looking to Oracle, which is the second largest business software company behind SAP, as a proxy for the sector’s prospects. Reports also emerged that SAP is actively laying off a portion of its workforce, an indication that it is becoming more aggressive on reducing costs in a difficult selling environment.