On the Watch: Adobe posts 2Q profit
NEW YORK --Strong sales overseas helped Adobe Systems Inc. post a 41 percent rise in fiscal second-quarter profit, and may boost shares of the maker of Photoshop design software on Tuesday.
After Monday's market close, Adobe Chief Executive Shantanu Narayen attributed the quarter's strong performance to a favorable product mix and geographic diversity.
Meanwhile, Infinera Corp., which makes networking equipment, slashed its full-year revenue target, sending shares sliding in Monday's aftermarket trading session.
Infinera expects customers in North America to purchase less in the third quarter.
Also, PepsiCo Inc. affirmed its full-year earnings outlook, but said flooding shuttered its Quaker manufacturing plant in Cedar Rapids, Iowa. 