Dec 12- Adobe Systems Inc, the maker of Photoshop and Acrobat software, forecast current-quarter results below analysts' estimates, sending its shares down as much as 5 percent in extended trading. Adobe said it expects revenue of $950 million to $1 billion in the first quarter. The company forecast adjusted earnings of between 22 cents and 28 cents per share.
Discussing if investors should be concerned with the escalation in "negative" pre-announcements on earnings, with CNBC.com Finance Editor Jeff Cox and Nick Raich, Earnings Scout. Cox says companies have to accept the taper reality and adjust their expectations.
NEW YORK, Dec 12- Europe, long a scapegoat for weak earnings at U.S. multinational companies, is now looking like a more dependable source of profits, and that could make some stocks that have lagged this year's rally more enticing to investors.
NEWS: Ciena, a developer of high-speed networking technology, reported Thursday that it narrowed its fiscal fourth-quarter loss on improved revenue. NUMBERS: Ciena Corp. posted a loss of $9.8 million, or 9 cents per share, versus $38.8 million, or 39 cents per share, last year.
NEWS: Hovnanian Enterprises Inc. shares jumped Thursday after the homebuilder reported that it moved to a profit for its fourth quarter on improved home sales. NUMBERS: The company earned $32.8 million, or 21 cents per share, for the quarter that ended Oct. 31. It lost $84.4 million, or 59 cents per share, in its fourth quarter last year.
NEW YORK-- Warner Music Group Corp. posted a wider fourth-quarter loss Thursday even as revenue rose thanks to its purchase of Parlophone Label Group, home of artists such as Coldplay and David Guetta. The net loss in the three months through Sept. 30 came to $57 million, compared to a loss of $18 million a year ago.
TORONTO, Dec 12- Lululemon Athletica Inc warned on Thursday that fewer customers visiting its stores and ongoing supply chain issues are hitting sales in the crucial fourth quarter, news that sent shares of the trendy Canadian yogawear chain tumbling. Shares of the retailer, which named a new chief executive earlier this week, sank 10.8 percent to $60.96.
Robert Katz, Vail Resorts, Inc. chairman & CEO, discusses the strong forecast for this year's ski season and if the Winter Olympics have an effect on the industry's bottom.
Diane Swonk, Mesirow Financial chief economist & senior managing director, discusses the state of consumer spending and how it is affecting holiday retail earnings reports. CNBC's Steve Liesman provides perspective on the overall economy and the taper.
Dec 12- Network equipment maker Ciena Corp forecast current-quarter revenue largely below Wall Street estimates as its telecom customers held back on spending in the last few months of the year. Ciena shares fell as much as 6 percent after the company also reported lower-than-expected fourth-quarter profit due to higher costs.
Dec 12- Empire Co Ltd, owner of Canada's No. 2 grocer, reported an 84 percent jump in second-quarter earnings as cost controls helped to offset weaker margins. Sobeys, like other Canadian retailers, is facing increasing competition from Wal-Mart and Target, which are expanding their presence in Canada.
Dec 12- Satellite TV provider DirecTV said it expects earnings of $8 per share by 2016, a more than 15 percent compounded annual growth, helped by strong subscriber additions. The company's projections exclude results from Venezuela due to the huge currency devaluation.
The "Squawk on the Street" news team discuss the Lululemon earnings beat and if the negative PR impacted the stock.
TORONTO, Dec 12- Lululemon Athletica Inc warned on Thursday it expects flat same-store sales in the crucial fourth quarter due to "macro and execution issues" and cut its full-year outlook, sending shares of the trendy Canadian yogawear chain tumbling.
Shares of Men's Wearhouse are ticking higher after the clothier overcame a sluggish performance from its tuxedo business in the third quarter to top profit and revenue expectations on Wall Street. Net income fell 22 percent, largely on costs related to the acquisition for more than $97 million of JA Holdings Inc., the parent company of the brand Joseph Abboud.
Dec 12- Network equipment maker Ciena Corp reported a lower-than-expected quarterly profit as costs rose 20 percent and forecast current-quarter revenue largely below Wall Street estimates, sending its shares down 11 percent before the bell.
TORONTO, Dec 12- Lululemon Athletica Inc said on Thursday it expects flat same-store sales in the crucial fourth quarter, sending its shares sharply lower even as the Canadian yogawear chain reported third-quarter earnings that beat expectations.
Dec 12- Canadian tour operator Transat AT Inc posted better-than-expected earnings for the third straight quarter as higher prices and cost-cutting boosted margins. Transat's net profit tripled to C $54.7 million, or C $1.40 per share, in the fourth quarter ended Oct. 31 from C $16.6 million, or 43 Canadian cents per share, a year earlier.
Some of the names on the move ahead of the open.
TORONTO, Dec 12- Canadian yogawear chain Lululemon Athletica Inc, which appointed a new chief executive this week, reported higher profit on Thursday, but forecast flat same-store sales for the crucial fourth quarter. Shares slid 10.7 percent to $61 in trading before the morning bell on the Nasdaq.