Economic Calendar

Tuesday, June 30, 2009

Adobe Systems, Apollo, Ctrip, H&R Block: U.S. Equity Preview

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By Lu Wang

June 30 (Bloomberg) -- Shares of the following companies may have unusual moves in U.S. trading. Stock symbols are in parentheses.

Adobe Systems Inc. (ADBE US): The biggest maker of graphic- design programs said it will idle its U.S. operations for one week in the second, third and fourth quarters of its fiscal year. Employees will be asked to take time off as paid time off, the company said.

Apollo Group Inc. (APOL US): The owner of the University of Phoenix reported third-quarter profit that beat analysts’ estimate and said it will increase its share buyback to $500 million.

Ctrip.com International Ltd. (CTRP US): China’s biggest online hotel and airline ticketing agent was upgraded to “buy” from “neutral” by Nomura International (HK) Ltd.

General Mills Inc. (GIS US): The maker of Cheerios and Hamburger Helper said it raised its quarterly dividend by 4 cents a share to 47 cents.

H&R Block Inc. (HRB US): The biggest U.S. tax preparer said fourth-quarter profit from continuing operations was $2.09 a share, topping the average analyst estimate by 2 percent, as fees from consumer financial services increased.

To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net




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