Stocks to Watch: Adobe, Amazon, Goldman
NEW YORK -- Adobe Systems(ADBE) , a maker of digital media publishing and marketing applications, posted fiscal first quarter profit in line with analysts' estimates.
Adobe posted non-GAAP profit of $284.5 million, or 57 cents a share, on revenue of $1.045 billion. Analysts were expecting earnings of 57 cents a share on revenue of $1.053 billion.
For the fiscal second quarter ending in May, Adobe forecast non-GAAP earnings of 57 cents to 61 cents a share on revenue ranging from $1.09 billion to $1.14 billion. The current average analysts' view is for a profit of 60 cents a share on revenue of $1.10 billion.
Separately, Amazon will be selling $10 gift cards for $5 on Tuesday to people who visit AmazonLocal.com, its answer to deals sites such as Groupon and LivingSocial, The Associated Press reported.
Goldman Sachs(GS) has begun a new round of staff cuts in its trading and investment banking divisions, Reuters reported, citing three sources familiar with the matter. .
Goldman eliminated 2,400 positions last year, and the sources said further reductions are possible as the company continues to reduce costs.
The investment bank's latest round of cuts is part of its annual employee review process.
Oracle(ORCL) , the database software giant, is expected by analysts Tuesday to earn 56 cents a share in its fiscal third quarter on revenue of $9.02 billion.
Wall Street will be looking to see if the massive expansion of Oracle's sales force that took place in the first half of the company's hiscal year has paid off in the third quarter.