Despite what the media wants you to believe, the week wasn't all about Apple. Believe it or not, there are other technology companies.
Adobe missed Wall Street expectations for its third quarter, as the company is being hurt by software shifting to the cloud.The San Jose, Calif.-based firm earned 58 cents a share on revenue of $1.081 billion. Analysts polled by Thomson Reuters were looking for 58 cents per share on $1.10 billion in sales. Adobe gave fourth-quarter revenue guidance that was below expectations. Adobe expects sales to be between $1.075 billion and $1.125 billion, compared to analysts' forecast of $1.21 billion. Excluding items, Adobe's looking for fourth-quarter earnings between 53 cents and 58 cents a share. Analysts surveyed by Thomson Reuters are predicting earnings of 67 cents a share. Adobe shares gained 1.4% to close the week at $33.83.
Oracle missed top-line estimates for its first quarter. The Redwood Shores, Calif.-based software giant generated non-GAAP earnings of $2.6 billion, or 53 cents a share, for the three months ended in August on revenue of $8.18 billion. The average estimate of analysts polled by Thomson Reuters was for the company to report a profit of 53 cents per share on revenue of $8.42 billion. Oracle shares lost 1.46% this week to finish at $32.47.
Microsoft (MSFT) announced this week that it was raising its quarterly dividend by 15% to 23 cents per share. The dividend is payable Dec. 13 to shareholders of record on Nov. 15, and shares will go ex-dividend Nov. 13. Shares of Microsoft lost 0.06% this week to close at $31.19.
AMD (AMD) slumped this week following the resignation of its CFO, Thomas Seifert. "Seifert has informed the company of his decision to resign as senior vice president and chief financial officer to pursue other opportunities," explained AMD, in a statement released after market close on Monday. "Seifert's departure is not based on any disagreement over the Company's accounting principles or practices, or financial statement disclosures," it added. Shares of AMD fell 7.69% this week to $3.60.
Earnings season kicks into high gear next week, with names like Research In Motion (RIMM), Jabil Circuit (JBL), Micron Technology (MU) and others showcasing their quarterly results. Enjoy the weekend everyone! Interested in more on Apple? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
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