Adobe Systems Inc. (NASDAQ: ADBE) beat earnings expectations and said that its business is improving. Shares are up over 5% at $37.10 despite a red market this morning. At 9:04 AM EST we have seen 295,000 shares trade hands and the 52-week range is $20.39 to $38.20.
Genzyme Corporation (NASDAQ: GENZ) is down after reports that the FDA took an enforcement action on its Allston plant which has been a trouble for the company. At 9:05 AM EST we have seen shares drop over 4.5% to $56.39 on almost 500K shares.
Jabil Circuit Inc. (NYSE: JBL) showed that its earnings beat expectation but on light revenues. The company reported Q2 results of $0.29 EPS on $3 billion in revenue. Thomson Reuters had estimates at $0.28 and $3.01 billion. At 9:05 AM EST shares are down 7.35% at $17.01 on almost 60,000 shares. The 52-week range here is $3.73 to $18.49.
Lennar Corp. (NYSE: LEN) announced this morning that its Q1 loss narrowed as margins and orders rose. The home builder has also said that it is on track to become profitable this year. Shares are up 5.8% at $18.05 and hitting a new 52-week high above $17.88. At 9:05 AM EST we have seen only 83,000 shares trade hands.
Linn Energy, LLC (NASDAQ: LINE) is lower after it priced its 15 million unit secondary at $25.00, which is where it closed yesterday. Shares are down 0.7% at $24.83 on 950,000 shares at 9:08 AM EST.
Massey Energy Co. (NYSE: MEE) priced its planned 8.5 million shares secondary offering. The Secondary priced at $49.75 versus a $50.88 close yesterday. At 9:07 AM EST we have seen 375K shares trade and the stock is down 1% at $50.35.
Novavax, Inc. (NASDAQ: NVAX) is up on positive swine flu data this morning. At 9:08 AM EST we have shares up over 7% at $2.51 on 150K shares.
Starbucks Corp. (NASDAQ: SBUX) as expected is declaring its first ever dividend of $0.10 per quarter and said it would allocated 35% to 40% of net income for future dividend policies. The company also authorized 15 million shares for buyback. At 9:09 AM EST we have seen 135K shares trade and the stock is up 2.13% at $25.95. The prior 52-week range WAS $10.74 to $25.66.
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JON C. OGG
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