On Tuesday, the San Jose-based firm reported earnings of 35 cents a share on $1 billion in revenue. Analysts surveyed by Thomson Reuters were looking for earnings of 31 cents a share on $986 million in revenue.
Adobe shares surged on the results, and were up 5.52% to $43 before market open. The company was also one of the most active premarket Nasdaq stocks on share volume of 272,381.
BlackBerry (BBRY - Get Report) was another big gainer, rising 5.39% to $15.84, lifted by positive analyst sentiment. Morgan Stanley (MS) analyst Ehud Gelblum has upgraded the Canadian handset maker to "overweight" from "underweight" and raised his price target to a Wall Street high of $22. Gelblum believes that gross margins from the new BlackBerry 10 phones will add to BlackBerry's earnings this year.The phone giant was another active Nasdaq stock on share volume of 1,976,248. Zynga (ZNGA - Get Report) shares, however, dipped 1.73% to $3.41 while SiriusXM (SIRI - Get Report) shares crept up 0.33% to $3.07. Facebook (FB - Get Report) gained 0.49% to $26.68. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org
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