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3 Stocks to Watch on Friday: Adobe Systems Incorporated (ADBE), Jabil Circuit, Inc. (JBL) and Oracle Corporation (ORCL)

U.S. stocks experienced mild growth on Thursday, with financials continuing their hot streak, surging 1%, while REITs fell 0.7%. The S&P 500 Index was 0.4% higher, the Dow Jones Industrial Average gained 0.3% and the Nasdaq Composite posted a growth of 0.4%.

3 Stocks to Watch on Friday: Adobe Systems Incorporated (ADBE), Jabil Circuit, Inc. (JBL) and Oracle Corporation (ORCL)Several companies released their quarterly data Thursday afternoon, including Adobe Systems Incorporated (NASDAQ:ADBE), Jabil Circuit, Inc. (NYSE:JBL) and Oracle Corporation (NYSE:ORCL).

Adobe Systems Incorporated (ADBE)

Adobe Systems had a solid afternoon as the company posted earnings and released a new app.

The company raked in 80 cents per share in its fourth quarter, topping the 44 cents it earned in the fourth quarter of 2015. On an adjusted basis, Adobe earned 90 cents per share, topping expectations of 86 cents per share.

Revenue came in at $1.61 billion over the three-month period, $300 million higher than what the company accrued the previous year. Analysts surveyed by FactSet were calling for revenue of $1.59 billion.

The company added that it enters 2017 with market momentum and plenty going on. Adobe repurchased about 10.4 million shares in 2016, returning about $1.01 billion to investors.

Full-year earnings came in at $3.01 per share on an adjusted basis, while revenue was $5.85 billion. These figures topped expectations by three cents per share and $20 million respectively.

Adobe also announced that it has launched a new video app called Spark, which is a storytelling app. You can use it to communicate with your friends, family and followers via social media in a similar manner to Snapchat’s Story functionality.

ADBE shares gained 0.1% after hours Thursday.

Jabil Circuit, Inc. (JBL)

Jabil Circuit was another company releasing quarterly data on Thursday.

Wall Street was calling for earnings of 64 cents per share on an adjusted basis. Jabil topped this projection, reporting that the company earned 69 cents per share on an adjusted basis.

Revenue came in at $5.1 billion, which was about $90 million higher than the $4.91 billion that the consensus estimate called for. This figure was 21% lower than its year-ago quarterly revenue.

For its fiscal second quarter, Jabil expects adjusted earnings in the range of 35 cents to 57 cents per share. Analysts are expecting earnings of 46 cents per share.

Revenue is expected to come in at $4.2 billion to $4.5 billion. The company’s net sales will be at $4.36 billion for the quarter if Wall Street’s estimate is correct.

JBL skyrocketed 10.3% after the bell on this news.

Oracle Corporation (ORCL)

Oracle reported its quarterly results yesterday as well, but the company did not perform as well as the previous two companies.

For its second quarter, the tech company netted 61 cents per share on an adjusted basis. Analysts were calling for earnings of 60 cents per share on an average basis.

Revenue was relatively strong as well at $9.07 billion, coming in ahead of the $9 billion Oracle garnered in 2015’s second quarter. However, the figure was $50 million less than the $9.12 billion Wall Street was calling for.

Oracle CEO Safra Catz commented on the company’s strong quarter, attributing its ever-expanding role in the cloud. Oracle has now become the number one software as a service (SaaS) cloud application sales to customers with 1,000 employees.

She added that the company is expecting to book more than $2 billion in new recurring cloud business for this year alone, with this figure expected to rise over the coming years.

Oracle recently acquired NetSuite, which will help solidify the company’s cloud technology business.

ORCL stock lost 2.3% after Thursday’s market close.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/12/3-stocks-watch-friday-adobe-systems-incorporated-adbe-jabil-circuit-inc-jbl-oracle-corporation-orcl/.

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