Yet another rate hike from the Federal Reserve and quarterly earnings from Oracle and Adobe
will top the financial news headlines this week.
The Fed’s 13th rate hike in 18 months is a given when the board meets on Tuesday. However, investors will be closely watching the Fed’s accompanying statement for some sign that the long rate hike campaign may be nearing an end.
Oracle and Adobe will report their results after the close on Thursday. Analysts are looking for a 24% jump in sales at Oracle to $3.41 billion, and earnings are expected to climb 19% to 19 cents a share. Adobe is expected to post a 32% jump in earnings to 29 cents a share, on sales of $507 million. Analysts will also be listening for any plans Adobe has for newly acquired Macromedia, including a new financial outlook for the combined company.
Stocks finished mixed on Monday, as blue chips were restrained by rising oil prices and continuing legal troubles at Merck .
The Nasdaq rose 4 to 2260, the S&P 500 gained 1 to 1260, and the Dow slipped 10 to 10,767. Volume rose to 1.88 billion shares on the NYSE, and 1.7 billion on the Nasdaq. Advancers led 17-15 on the NYSE, while decliners led by a few shares on the Nasdaq. Upside volume was 57% on the NYSE, and 54% on the Nasdaq. New highs-new lows were 173-100 on the NYSE, and 144-31 on the Nasdaq.
Intuit climbed 4% after raising guidance.
8×8 soared on a deal with Bell South
.
GoRemote rose on news that it will be acquired by iPass
.
Centennial Communications lost 16% after announcing subscriber data, a restatement and plans to sell $550 million in debt.
