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Adobe earnings win; stocks rise

Thursday, December 10, 2015 - 01:48

Adobe results were better-than-forecasts thanks to its Creative Cloud suite. Stocks rose despite a drop in oil prices. Bobbi Rebell reports.

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Adobe earnings coming in better than forecasts after the closing bell. Revenue up 22 percent at the Photoshop maker after more subscribers than expected signed up for its Creative Cloud software suite. Energy stocks powered Wall Street higher despite a further drop in oil prices, ending a three-session losing streak for the Dow and S&P 500. Mark Newton of Greywolf Execution Partners: SOUNDBITE: MARK NEWTON, CHIEF TECHNICAL ANALYST, GREYWOLF EXECUTION PARTNERS (ENGLISH) SAYING: " For now, the market largely is on a holding pattern ahead of next week. We have one of the more widely anticipated Fed meetings of recent years where the Fed is going to gradually start to normalize and lift rates, and that's widely anticipated at this point by the market." GoPro stock surging 11 percent, after an analyst suggested the action camera market could be a takeover target for Apple. Contrition boosting Chipotle shares. The founder of the burrito chain apologized to customers who got sick after eating at its restaurants. Shares of Atlassian soaring in their debut at the Nasdaq. The Australian business software company, valued at close to $6 billion was one of the most highly valued public offerings of the year. Men's Wearhouse couldn't like the way its stock looks today. Shares dropped sharply after the retailer said comparable sales at the retailer it bought, Jos. A. Bank had plummeted. Two new features from social media giants boosting their shares. Twitter said it's testing a way to show ads to people who look at the microblogging site without logging in. Facebook says it'll soon launch a professional version of its social network. Economic data out Thursday didn't change views over expectations of a Fed interest rate hike next week. Import prices fell in November. Jobless claims rose last week. Turning to Europe, stocks were mostly lower.

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Adobe earnings win; stocks rise

Thursday, December 10, 2015 - 01:48