Oracle Corporation (NYSE:ORCL), Adobe Systems Incorporated (NASDAQ:ADBE) and Pacific Sunwear of California, Inc. (NASDAQ:PSUN) posted earnings on Tuesday, and as a result these stocks are expected to witness increased trading. FedEx Corporation (NYSE:FDX), General Mills, Inc. (NYSE:GIS) and Guess?, Inc.(NYSE:GES) will also post earnings today.
Oracle, Adobe and Pacific Sunwear post earnings
After the market close on Tuesday, Oracle Corporation (NYSE:ORCL) reported an increased profit for the fiscal third quarter of $2.57 billion or 56 cents a share, up from $2.5 billion, or 52 cents a share from the same period a year ago. Revenue for the quarter came in at to $9.31 billion compared to $8.96 billion for 3Q last year. Adjusted profit for Oracle was 68 cents a share while analysts were expecting the company to post a profit of 70 cents a share. In after hours trading, shares of the company were down 5.1%.
For the fiscal third quarter, Adobe Systems Incorporated (NASDAQ:ADBE) posted a profit of $47 million, or 9 cents a share, down from $65.1 million, or 13 cents a share, a year earlier. Revenue for the company was similar to that of last year at $1 billion. For the quarter, adjusted earnings for the software company were 30 cents a share compared to 25 cents a share expected by the analysts surveyed by FactSet. In after-hours trading, shares of the company were down 1.5%.
Late Tuesday, Pacific Sunwear reported an increased loss for the fourth quarter. The California-based company posted a loss of $22.5 million, or 33 cents a share compared to a loss of $19.9 million, or 29 cents a share, last year. On an adjusted basis, the company reported a loss of 17 cents a share, beating analysts’ expectations of 19 cents.
FedEx, General Mills and Guess to report earnings today
FedEx Corp. reports its fiscal third-quarter earnings on Wednesday. Analysts expected the company to post earnings of $1.45 a share.
On Wednesday, General Mills is projected to post third quarter earnings of 64 cents a share, and analysts also expect Jabil Circuit to post fiscal second-quarter earnings of 11 cents a share. On Wednesday, Guess will also report fourth quarter earnings, which are expected to come in around 78 cents a share.
Microsoft Corporation (NASDAQ:MSFT) is also expected to trade actively on Wednesday, as the stock touched it highest level since July 2000 yesterday, gaining 3.9% to end the day at $39.55. Investors pushed the stock up on the news that the software giant will soon come up with an Office software for Apple Inc. (NASDAQ:AAPL) iPad.