Market News

March 20, 2013  Wed 7:33 AM CT

High Quality Find in Shenandoah Basis

Anadarko Petroleum announced the discovery of a major oil deposit at its Shenandoah-2 well deep in the Gulf of Mexico, "of much higher quality" than earlier finds. APC rose 3 percent before the bell on my tradeMONSTER platform. Cobalt Energy, which owns one-fifth of the field, rallied 8 percent.

Adobe Climbs on Strong Results

Adobe Systems reported first-quarter profit of $0.35 a share, on revenue of $1.10 billion. Analysts had only expected $0.31 and $986 million, respectively. ADBE gains 5.5 percent in the premarket.

FedEx Profits Under Pressure

FedEx earned $1.23 a share, missing the $1.38 average analyst estimate. Revenue beat expectations, but the bottom-line guidance was weak as well. Profit is expected to be no more than $2.10 in the current quarter, while the Street is looking for $2.13. FDX drops 4 percent in the premarket.
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