11:45 AM New York City, New York – Adobe missed earnings estimates but net jumped 35%. Costco reported strong first-quarter results. Ciena beats estimates. Danaher reaffirmed fiscal outlook. First Solar jumped on higher fiscal earnings forecasts.
Tollbooth Index slumped 187.45 or 1.2% to 14,869.29 but for the year-to-date soared 8.1%.
Adobe Systems Inc
) gained 1% or $2.53 to $248.08 after the multimedia and creativity software developer reported total revenues in the fourth-quarter ending in November soared 23% from a year ago to $2.5 billion.
Net income in the quarter surged 35.2% to $678.2 million or $1.37 per diluted share from $501.5 million or $1 in the same quarter last year.
Adobe forecasted fiscal 2019 revenues of about $11.150 billion and diluted earnings per share of about $5.54.
Costco Wholesale Corporation
) decreased $1.29 to $226.51 after the membership warehouse clubs operator said net sales in the first-quarter ending on November 25 soared 10.3% from a year ago to $34.3 billion.
Comparable sales in the quarter jumped 8.8% and online comparable sales advanced 32.3%.
Net income in the quarter soared 19.8% to $767 million or $1.73 per diluted share from $640 million or $1.45 in the same quarter last year.
) surged 8.6% or $2.77 to $34.91 after the networking equipment provider said revenues in the fourth-quarter ending in October jumped 20.8% from a year ago to $899.4 million.
Net income in the quarter plunged 46.7% to $64 million or 34 cents per diluted share from $1.2 billion or $7.32 in the same quarter last year.
Ciena said its board of directors has authorized a new share repurchase program of up to $500 million.
) rose 47 cents to $102.50 after the diversified conglomerate reaffirmed fiscal 2019 diluted net earnings per share in the range of $4.75 to $4.85 and revenues growth of about 4%.
First Solar Inc
) jumped 3.9% or $1.70 to $45.30 after the photovoltaic power plants operator forecasted fiscal 2019 revenues in the range of $3.3 billion to $3.5 billion and diluted net earnings per share between $2.25 and $2.75.
United Rentals Inc
) gained 60 cents to $108.88 after the industrial and construction equipment provider reaffirmed fiscal 2018 revenues in the range of $7.89 billion to $7.99 billion and operating profit between $3.82 billion and $3.87 billion and free cash flow in the range of $1.25 billion to $1.35 billion.
The industrial equipment provider forecasted fiscal 2019 revenues in the range of $9.15 billion to $9.55 billion and operating profit between $4.35 billion and $4.55 billion.
The United Rentals also announced to resume $1.25 billion share repurchase program in this month.