Monday's Late Winners & Losers
Adobe Systems
(ADBE) - Get Adobe Inc. Report
was one of the most heavily traded losers amidst a mixed late session Monday.
Shares of the application software company were sliding 2% after saying CEO Bruce Chizen
will step down effective Dec. 1, to be replaced by current Chief Operating Officer Shantanu Narayen. The San Jose, Calif.-based firm said Chizen will continue to serve on the company board through spring of next year, and in a "strategic advisory capacity" through fiscal 2008.
Adobe also said its fourth-quarter revenue should be at the high end of prior guidance, which had been pegged at $860 million to $890 million. Analysts are seeking $885.6 million. Still, shares were losing 84 cents to $41.35.
Among other downward-trending movers, computer maker
Apple
(AAPL) - Get Apple Inc. Report
gave up 1.6% after the close;
Freeport-McMoRan Copper & Gold
(FCX) - Get Freeport-McMoRan Inc. Report
shed 2.3% to $97; and
Tenet Healthcare
(THC) - Get Tenet Healthcare Corporation Report
was off 4.9% at $4.14.
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On the flip side, Chicago-based
Orbitz
(OWW)
jumped 6.4% to $8.12 after the discount travel Web site operator said adjusted third-quarter earnings more than doubled from last year to 23 cents a share. That trounces analysts' estimates, which had called for just 14 cents a share. Revenue likewise came in ahead.
Bob Evans Farms
(BOBE)
also gained ground on positive quarterly results. The Columbus, Ohio-based restaurant chain made 43 cents a share in the fiscal second quarter, excluding items, to beat Wall Street expectations by 4 cents. The company additionally reaffirmed its fiscal 2008 guidance. Shares added $1.45, or 5.6%, to $27.15.
Also among the densely traded after-hours winners were online broker
E*Trade
(ETFC) - Get E*TRADE Financial Corporation Report
, up 1.4% to $3.60 following a
near 60% plummet in the regular session; drugstore chain
CVS Caremark
(CVS) - Get CVS Health Corporation Report
, lately up 1% to $41.84; and coffee giant
Starbucks
(SBUX) - Get Starbucks Corporation Report
, which climbed 2.3%.
