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On the Watch: Adobe posts 2Q profit

By Associated Press
June 17, 2008 | Comments (0)

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Strong sales overseas helped Adobe Systems Inc. post a 41 percent rise in fiscal second-quarter profit, and may boost shares of the maker of Photoshop design software on Tuesday.

After Monday's market close, Adobe Chief Executive Shantanu Narayen attributed the quarter's strong performance to a favorable product mix and geographic diversity.

Meanwhile, Infinera Corp., which makes networking equipment, slashed its full-year revenue target, sending shares sliding in Monday's aftermarket trading session.

Infinera expects customers in North America to purchase less in the third quarter.

Also, PepsiCo Inc. affirmed its full-year earnings outlook, but said flooding shuttered its Quaker manufacturing plant in Cedar Rapids, Iowa.

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