U.S. Movers: Adobe, AIG, Echostar, General Motors, Las Vegas Sands

Mukesh Buch
13 Dec, 2013
New York City

Adobe net plunged 71%. AIG and AerCap are in talks to sell aircraft leasing business. Echostar and Vivendi

[R]11:20 AM New York – Adobe net plunged 71%. AIG and AerCap are in talks to sell aircraft leasing business. Echostar and Vivendi’s GVT terminate joint venture in Brazil. GM sold its 7% stake in Peugeot. Las Vegas Sands cancelled its Spain project worth $30 billion.[/R]

Adobe Systems Incorporated ((ADBE)) surged 10.8% or $5.85 to $59.83 after the diversified software company reported total revenues in the fourth-quarter ending on November 29 surged 23% to $1.42 billion.

Net income in the quarter plunged 71% to $65.3 million or 13 cents a diluted share compared to $222.3 million or 44 cents.

American International Group Inc ((AIG)) rose 3 cents to $49.44 and the insurance company is in talks with Netherlands-based aviation company AerCap Holdings NV.

Last December, AIG agreed to sell stake of up to 90% of California-based ILFC to Chinese consortium of investors for $4.7 billion but failed to complete the deal.

Echostar Corporation ((SATS)) dropped 3.3% or $1.61 to $47.49 after the set-top boxes provider said talks with GVT a subsidiary of Vivendi cancelled a joint venture talk to set up pay TV services in Brazil.

General Motors Company ((GM)) increased 11 cents to $40.16 after the automobile company sold all of it 7% or 24.8 million shares stake in Peugeot Citroen SA for an undisclosed sum.

The company also departed from partial ownership of Ally Financial Inc, the former auto-lending division of GM. The automaker added it sold its 8.5% share in a deal valued about $900 million.

Las Vegas Sands Corp ((LVS)) rose 13 cents to $76.35 after the casinos operator said its project near Madrid did not fit with the company''s immediate development plans.

The company led by controversial Sheldon Adelson considered investment of more than €22 billion or $30 billion.

Restoration Hardware Holdings, Inc. ((RH)) plunged 4.4% or $2.91 to $62.39 after the hardware company said net sales in the fourth-quarter ending on November 2 soared 39% to $395.8 billion. Comparable store sales in the quarter surged 22%.

Net income in the quarter soared 87% to $9.55 million or 23 cents a diluted share compared to $1.69 million.