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Large Cap Stock Rose on Friday: Adobe Systems, Citigroup Inc., Bank of America Corporation, Vale

Posted by admin 997 days ago (http://emailwire.com)

(EMAILWIRE.COM, September 27, 2010 ) New York, NY-Following are among the most active large cap stock gainers based on the market capitalization of $10bln-$200bln.

Adobe Systems Incorporated (NASDAQ:ADBE) surged 1.77% to $26.88 on over 23.95 million shares. Earlier this week, the company reported a 69% jump in profits in the third quarter ending Sept. 3 but said that it expects fiscal fourth-quarter revenue of $950 million to $1 billion. It said it also expects adjusted earnings in the range of 48 cents a share to 54 cents a share.

According to FactSet Research, analyst were expecting the company to report adjusted earnings of 53 cents a share, on revenue of $1.03 billion.

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Citigroup Inc. (NYSE:C) added 2.74% to $3.90 on over 392.49 million shares. Today, the stock opened at $3.86.

Citigroup Inc. is a global diversified financial services holding company. The Company provides consumers, corporations, governments and institutions with a range of financial products and services

Bank of America Corporation (NYSE:BAC) jumped 3.26% to $13.60 on over 142.54 million shares. Bank of America Corporation is a bank holding company, and a financial holding company. The Company is a financial institution, serving individual consumers, small and middle market businesses, large corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services.

Vale (ADR) (NYSE:VALE) advanced 3.62% to close the day at $30.04 on over 33.68 million shares. Earlier this week, the company said that its board has approved a plan to buy back up to 5% of its shares, valued at $2 billion. In a filing with Brazil's securities regulator, Vale said it may purchase up to 64.8 million ordinary shares and 98.4 million preferred shares, with the plan in place until late March 2011.

In a separate filing, Vale said it plans to list shares on the Hong Kong Stock Exchange.

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