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.
Oracle Corp. dropped in U.S. trading after reporting a decline in hardware sales, fueling concern the top maker of database software may not be benefiting as much as predicted from its Sun Microsystems Inc. acquisition.
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.
Adobe Systems Inc. shares climbed the most in one year after the software company reported fiscal fourth-quarter sales and profit that topped analysts’ estimates as customers embraced its flagship Creative Suite.
Intuit Inc., a provider of tax and personal-finance software, fell the most in eight months after it said fiscal third-quarter revenue will be “at or slightly below the low end” of its previous forecast.
Intuit Inc. is boosting sales of its financial-management and tax-preparation programs with online and mobile versions, helping make up for a slowdown in desktop software, Chief Executive Officer Brad Smith said.