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RealTime IT News

Adobe, Jabil Buck The Downtrend

The Nasdaq hit a new low for the year on Friday, but at least Adobe and Jabil gave investors something to smile about.

The stocks of those companies gained 6% each after they reported earnings and guidance late Thursday that exceeded Wall Street forecasts.

PalmOne , meanwhile, fell 8% after the company warned that results will come in well below expectations for the second straight quarter.

The biggest newsmaker of the day was Oracle , which fell 4.7% after the company lost its CFO and upped its offer for Retek . Retek slipped 1.5% on the news, suggesting that investors think Oracle's bidding war with SAP may be nearing an end.

Investors will get another look at Oracle when it reports results next Tuesday.

The broader market ended the day mixed, which was good news considering that the indexes were down nearly 1% an hour before the market closed.

The Nasdaq fell 8 to 2007, the S&P 500 slipped half a point to 1189, and the Dow rose 3 to 10,629. Volume soared to 2.34 billion shares on the NYSE, and 2.2 billion on the Nasdaq. Decliners led 20-12 on the NYSE, and 18-12 on the Nasdaq. Downside volume was 60% on the NYSE, and 66% on the Nasdaq. New highs-new lows were 74-61 on the NYSE, and 59-107 on the Nasdaq.

Chipmos soared 16% on its results, while 3Com slipped despite beating estimates.

California Micro plunged 26% on a warning, and Digital River lost 7% on an acquisition.

Apple edged higher on an upgrade.



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