Showing posts with the label Stocks and Markets in the news | Companies' Stocks

Google shares decline 8% premarket in wake of earnings miss: Stocks and Markets in the news | Companies' Stocks

By Robert Daniel NEW YORK (MarketWatch) -- Google Inc. GOOG -7.67% shares were off 8% in premarket trading on Friday after the Mountain View, Calif., web-search firm reported that fourth-quarter earnings rose 6% but missed analysts' forecasts. Late Thursday, Google reported earnings of $8.22 a share, or an adjusted $9.50, compared with $7.81 in the year-earlier quarter. A survey of analysts by FactSet Research had estimated the company would earn $10.51 a share. Google executives attributed the earnings miss to a number of factors, including foreign-currency translations and an impairment charge. Operating expenses also were heavy, up 35%, as the company added more than 1,000 staffers. On the upside, paid clicks -- the number of times Google users click on the firm's ads -- rose 34% in the quarter.

Stocks & Markets in the News | Companies' Stocks :Adobe to cut about 750 jobs, shares fall: Market Pulse - MarketWatch

By Benjamin Pimentel SAN FRANCISCO (MarketWatch) - Adobe Systems ADBE -8.61% on Tuesday said it is cutting about 750 jobs, mainly in North America and Europe as part of a restructuring of the company. The company said it expects to record about $87 million to $94 million in pre-tax restructuring charges. As a result of the move, the company said it expects GAAP diluted earnings per share to be in the range 30 cents to 38 cents a share, compared to a previous expected range of 41 cents to 50 cents a share. Adobe share were down 7% in after-hours trading.