Tech Roundup: Adobe and Nokia Surge 4%, More iPhone Rumors Surround Apple
Shares of Adobe Systems (NASDAQ:ADBE) jumped more than 4 percent in late afternoon hours. The company reported better-than-expected earnings for its second quarter. Excluding items, earnings fell to 36 cents per share, compared to 60 cents per share a year earlier. Analysts expected earnings of 33 cents per share. “Our Q2 results reflect our leadership position in Digital Media and Digital Marketing,” said Shantanu Narayen, president and chief executive officer. “Creative Cloud is revolutionizing the creative process, and Adobe Marketing Cloud is quickly becoming the platform of choice for the world’s leading brands, advertising agencies and media companies.”
Nokia (NYSE:NOK) shares closed 4.6 percent higher on Tuesday and continue to attract attention in late afternoon hours. Daniel Thomas from the Financial Times wrote that the Chinese smartphone and networking supplier Huawei might acquire Nokia, pointing to remarks by its chief of consumer products Richard Yu. The executive said in an interview in London, “We are considering these sorts of acquisitions; maybe the combination has some synergies but depends on the willingness of Nokia. We are open-minded.”
Shares of Yahoo (NASDAQ:YHOO) edged higher in late afternoon trading, despite information about data requests coming into focus. Yahoo announced that it received 13,000 data requests from U.S. law enforcement agencies, joining a host of other tech companies giving details about the Foreign Intelligence Surveillance Act (FISA) requests they received. Bloomberg reports that in in the six months ending May 31, Yahoo received information requests for help with cases of fraud, homicides, and criminal investigations. Yahoo urged the government to reconsider its use of FISA, and now plans to issue its first global law enforcement transparency report, updated with new statistics every six months. Google (NASDAQ:GOOG) shares closed 1.6 percent higher on Tuesday.
Apple (NASDAQ:AAPL) shares traded mostly flat on Tuesday. A report via Apple Insider alerted readers that the production of accessories purposed to fit a new low-cost iPhone model has already been undergone by Japan’s MGM Corp. A new case featuring a thicker design and more rounded edges was leaked by Japanese blog, Macotakara. The case still includes space for a rear-facing camera, volume buttons, and a mute switch, and is about 2 millimeters thicker than the case designed for the iPhone 5.
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