Adobe shares rise on strong earnings

March 19, 2017 at 3:34AM
The Mobileye logo appears on a screen at the post where it trades on the floor of the New York Stock Exchange, Monday, March 13, 2017. Intel will buy Israel's Mobileye in a deal valued at just over $14 billion, the latest push by a major tech company to advance autonomous vehicles that could change the way traffic moves globally. (AP Photo/Richard Drew)
Mobileye shares jumped last week after the Israeli company said it would be bought by Intel. (The Minnesota Star Tribune)

Earnings jump: Adobe shares rose 4 percent to $127.01 Friday after reporting stronger revenue and earnings for its latest quarter than analysts expected as digital media revenue rose about 22 percent.

Discord: Streaming music company Pandora Media slumped 4 percent to $11.88 Tuesday as investors reacted with skepticism to the company's plans for an on-demand music service to compete with Apple Music and Spotify. Pandora shares closed Friday at $11.48.

Golden: Mobileye shares surged nearly 30 percent to $61.32 Monday after the Israeli autonomous-driving company said it would be sold to Intel for $63.54 per share in cash. Mobileye shares closed the week at $60.51. Intel, which slipped 2.1 percent, to $35.17 on the news closed Friday at $35.28.

Cloud nine: Oracle jumped 8 percent to $46.51 Thursday after the company reported stronger-than-expected earnings and revenue, fueled by a 62 percent increase in cloud-computing software and platform service sales. Shares closed Friday at $45.66.

Sweet: Hostess Brands rose 2.7 percent to $16.35 Wednesday after it gave solid forecasts for 2017. The Twinkie maker was acquired by private-equity firm Gores Group in the middle of last year and is again a public company. Its stock closed the week at $16.05.

Juicy: Fogo de Chao jumped 9.8 percent to $14.55 Wednesday after the Brazilian restaurant chain reported stronger earnings for its latest quarter than analysts expected. Shares closed Friday at $15.

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