Oracle Corp. reported sales and profit that missed analysts’ estimates as corporate customers transitioning to Web-based programs bought less hardware and software. The shares fell the most since 2011.
Adobe Systems Inc. rose to the highest price since 2008 after reporting sales and profit that exceeded analysts’ estimates as more customers flocked to online versions of the company’s graphic-design software.
Splunk Inc., a maker of software that helps businesses analyze Web data, climbed the most in more than four months on speculation that the company might be acquired by International Business Machines Corp.
Oracle Corp. declined in late trading after an unexpected drop in hardware sales suggested the largest maker of database software may not be benefiting as much as predicted from its acquisition of Sun Microsystems Inc.