Adobe Systems Inc., the largest maker of graphic-design software, reported fiscal second-quarter profit that exceeded analysts’ estimates as subscribers signed up for cloud-computing services at a faster clip.
Options traders are paying the most since 2005 to protect against stock swings in International Business Machines Corp. relative to its peers on concern profit will trail analyst estimates for a second quarter as sales drop.
International Business Machines Corp., the largest computer-services company, raised its annual forecast after second-quarter earnings topped analysts’ estimates, lifted by cost cuts and share buybacks.
Oracle Corp. dropped the most in more than nine years, dragging down other software makers, after it reported quarterly sales and profit that missed analysts’ estimates in a sign companies are spending less on programs that help them manage operations.
Google Inc. shares fell the most in four weeks after the owner of the most popular Internet search engine reported second-quarter sales and profit that missed estimates as mobile advertising crimped average prices.
The Standard & Poor’s 500 Index climbed to a record after the Federal Reserve unexpectedly refrained from reducing bond buying, emboldening bulls who have enjoyed a 155 percent rally since stimulus began five years ago.