A number of companies released positive earnings reports today. Adobe Systems Incorporated (NASDAQ: ADBE) reported that their quarterly sales for quarter four surpassed $1 billion, for the first time ever. Jabil Circuit Incorporated (NYSE: JBL) announced a net revenue of $4.1 billion in quarter one 2011, a $1 billion increase from their revenue during the same quarter of the prior year. Carnival Corp (NYSE: CCL) reported a 6.6 percent increase in revenue for quarter four 2010.
Unfortunately, it wasn’t all good news on the earnings front today. Companies like Orion Marine Group Incorporated (NYSE: ORN) and Citycon Oyj (Pink OTC Markets Inc: CTYYF) lowered some of their forecasts for the year. Some companies, like ConAgra Foods Inc (NYSE: CAG), reported lower earnings.
The Dow Jones Industrial Average responded positively to the earnings announcements and gained 55.03 points to 11,533.16. The Nasdaq rose 18.05 points to 2,667.61 and the S&P 500 gained 7.52 points to 1,254.60.
European markets were up on Tuesday with France’s CAC 40 gaining 1.09 percent. Asian markets were also up with China’s Hang Seng gaining 1.57 percent.
Stocks in the news: Carmax Inc (NYSE: KMX), Toronto Dominion Bank (NYSE: TD).
