Market Focus

Verizon 

Verizon says earnings may plateau next year because of changing consumer habits. Still, the CEO believes the company will outperform, despite competition. Shares fell two percent to $45.23.

Rite Aid 

It was a down day for Rite Aid. The drug store chain missed on the bottom line, though sales beat forecasts. The company also trimmed its earnings guidance for the full-year. Shares slid almost 11 percent to $7.66.

Perrigo & Mylan 

The generic drug maker Perrigo urged shareholders to reject Mylan’s unsolicited takeover offer of the firm. Perrigo saying the nearly $30 billion offer undervalues the company. Perrigo fell a fraction to 181.08. Mylan rose slightly to $49.37.

Adobe

Adobe reported better-than-expected results. The software firm’s profit and revenue topped analysts estimates helped by subscriptions to its Creative Cloud software suite. Forecasts for this quarter’s results were below consensus. Shares spiked initially after the close before tumbling. During the regular session the stock was off a fraction to $80.31.

This entry was posted in Market Focus. Bookmark the permalink.

Leave a Reply