Adobe Systems Inc. (NASDAQ: ADBE) jumped about 6.50% by afternoon trade. Adobe Systems, which develops popular software such as Photoshop and Acrobat reported better-than-expected earnings for the fiscal second quarter and revenue which matched Street’s expectation., late on Tuesday In the recently concluded quarter, Adobe added 221,000 Creative Cloud subscribers and now has a subscribers base of 700,000.
Continue reading Major Movers on June 19; ADBE, ALU, TTEK, LZB, FDX
Shares of JC Penney Company Inc. (NYSE: JCP) were hammered on Tuesday after the Company said that its Chief Executive Officer Ron Johnson decided to leave the Company. Meanwhile, the Company has re-appointed ex-CEO Mike Ullman at the top position, on interim basis. The beleaguered department chain, whose shares slumped 44% last year which marked Johnson’s first full year as a CEO, tumbled another 25% through last week as his strategy to overhaul the chain’s business failed to generate customer’s traffic while sales kept dwindling. Johnson stint was for only about one and half years.
Continue reading Major Movers on April 9; JCP, CLF, HIMX, TTEK, FCN