Stocks to Watch: Adobe, Procter & Gamble (Update 1)
NEW YORK -- Adobe Systems
Adobe forecast non-GAAP earnings of 56 cents to 61 cents a share for the three months ending in August on revenue of $1.075 billion to $1.125 billion. Analysts forecast profit of 61 cents a share on revenue of $1.133 billion.
Adobe shares dropped 5.75% to $31.00 in premarket trading Wednesday.
Procter & Gamble
P&G said Wednesday it expects to post core earnings for the quarter ending in June of 75 cents to 79 cents a share; its previous estimate was 79 cents to 85 cents a share.
Analysts forecast core earnings of 82 cents a share in P&G's fiscal fourth quarter.
P&G said organic sales are expected to rise 2% to 3% in the quarter; its previous estimate was 4% to 5%.
The company said foreign exchange is expected to reduce net sales by 4% in the quarter. Net sales are expected to be in the range of down 2% to 1%; it previously expected an increase of 1% to 2%.
Shares of Procter & Gamble fell 2.01% in premarket trading Wednesday to $60.96.
The new bid is for $25.75 a share, up from a competing bid of $25.50 a share that was reportedly made by Dell
Shares of Quest Software fell 1.02% in premarket trading Wednesday to $26.25.
Bed, Bath & Beyond
Bed, Bath & Beyond announced on May 9 a deal to acquire Cost Plus
Companies scheduled to report quarterly results on Wednesday include Actuant
-- Written by Joseph Woelfel
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