Adobe surges with transition to cloud
Earnings, Revenue Beat Expectations
Adobe Systems reported fourth-quarter profit of $0.61 on revenue of $1.153 billion. Analysts had only expected $0.57 and $1.10 billion, respectively. That beat is sending ADBE up by 5 percent before the bell on my tradeMONSTER platform.
VeriFone Falls on Revenues, Guidance
VeriFone System saw nice margin improvement, but the overall pace of business didn't impress. Revenue of $485.4 million missed the $495 million consensus estimate. Guidance for the first quarter was also below Street expectations, and PAY is down 7 percent in early trading.
Quicksilver Quarter Misses the Mark
Quicksilver earned $0.07 a share in the fourth quarter, lagging the $0.10 average estimate. Sales totaled just $559 million, also below the $564 million anticipated by analysts. ZQK hasn't traded yet this morning, but dropped 15 percent after hours yesterday.
European Stance Hammers Isis Pharma
Isis Pharmaceuticals announced that European regulators have taken a negative opinion toward approving its Kynamrotm drug for the treatment of patients with Homozygous Familial Hypercholesterolaemia. Management said it's disappointed with the news and will request another review. ISIS drops 9 percent in early trading.
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