Markets: News  

Updates, advisories and surprises

Adobe shares fall on disappointing outlook

(4:16 PM ET) SAN FRANCISCO (MarketWatch) - Adobe Systems(ADBE) on Tuesday reported a fiscal second-quarter profit of $223.9 million, or 45 cents a share, compared with a profit of $229.4 million, or 45 cents a share, for the year-earlier period. Revenue was $1.12 billion, up from $1.02 billion. Adjusted profit was 60 cents a share. Analysts were expecting the software company to report 59 cents a share, on revenue of $1.11 billion, according to a consensus survey by FactSet Research. For the current quarter, the company said it expects revenue in the range of $1.075 billion to $1.125 billion, and adjusted profit in the range of 56 cents to 61 cents a share. Analysts were expecting a profit of 61 cents a share, on revenue of $1.134 billion, according to FactSet Research. Adobe shares fell more than 3% in after-hours trading.

Oracle, Microsoft lead early tech gains

(9:41 AM ET) SAN FRANCISCO (MarketWatch) -- Tech stocks claimed early gains Tuesday, led by advances by Oracle Corp.(ORCL) and Microsoft Corp.(MSFT) . Oracle shares rose more than 5%, to $28.60, after the business-software company reported better-than-expected quarterly results late Monday. Microsoft shares climbed more than 2%, to $30.58, following the company's unveiling of the new Surface tablet on Monday. The Nasdaq Composite Index($COMPQ) rose 21 points to 2,916 and the Philadelphia Semiconductor Index($COMPQ) also advanced.

Barnes & Noble narrows loss

(9:00 AM ET) NEW YORK (MarketWatch) -- Barnes & Noble Inc.(BKS) said Tuesday its fourth-quarter loss attributed to the company narrowed to $57.7 million, or $1.08 a share, from $59.4 million, or $1.04 a share, in the year-ago period. The loss per share figure widened because of the inclusion of $4 million in accrual of preferred stock dividends in the latest period. Revenue at the book retailer rose slightly to $1.38 billion from $1.37 billion. Revenue of its Nook electronic reader unit fell to $163.6 million from $182.8 million. Digital content sales increased 65% for the fourth quarter. Wall Street analysts expected Barnes & Noble to lose 92 cents a share on sales of $1.48 billion, according to a survey by FactSet Research.

FedEx sees Q1 results shy of analyst estimates

(7:51 AM ET) NEW YORK (MarketWatch) -- FedEx Corp. [s; fdx] said on Tuesday that it expects its fiscal first-quarter profit to be $1.45 to $1.60 a share. Currently, the Wall Street analyst consensus estimate for the firm, according to FactSet Research, is $1.71 a share. FedEx said its internal estimate excludes, "the impacts of the significant cost reduction programs currently under review that should be announced in the fall." Furthermore, the firm said that its outlook assumes U.S. GDP growth of 2.2% and world GDP growth of 2.6% during the fiscal year. FedEx concluded that its capital spending for fiscal 2013 is expected to fall to $3.9 billion, based on fewer aircraft deliveries and more investment in its FedEx Ground operations. FedEx shares fell 1.7% in preopen trading.

FedEx profit off after aircraft impairment charge

(7:41 AM ET) NEW YORK (MarketWatch) -- FedEx Corp(FDX) said on Tuesday that it earned $550 million, or $1.73 a share in its fiscal fourth quarter, compared to $558 million, or $1.75 a share a year ago. Excluding a $634 million aircraft impairment charge it took in the quarter, the company reported a $634 million or $1.99 a share profit. Revenue at the freight shipper rose to $11 billion in the quarter from $10.6 billion a year ago. Analysts polled by FactSet Research had expected the company to earn $1.92 a shares on revenue of $11.22 billion.

Europe stocks mostly higher; Danone drops

(3:22 AM ET) MADRID (MarketWatch) -- European stocks pushed mostly higher on Tuesday, with resource stocks providing support, while food stocks fell. Markets are awaiting the German ZEW index of investor sentiment. The Stoxx Europe 600 index(XX:SXXP) rose 0.2% to 244.89, with BP PLC(UK:BP) (BP) up nearly 1%, while shares of Danone SA(FR:BN) fell nearly 6% after the foods company cut its operating margin for 2012. The FTSE 100 index(UK:UKX) rose 0.4% to 5,514.14, helped by gains for resources. The French CAC 40 index(FR:PX1) was flat, weighed by Danone. The German DAX 30 index(DX:DAX) rose 0.2% to 6,262.47. Spain's IBEX 35 index(XX:IBEX) rose 0.2% to 6,535.40, ahead of an auction of short-term government debt.