BUZZ-U.S. STOCKS ON THE MOVE-Penumbra, La Quinta Holdings, U.S. banks
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock indexes fell on Friday, after the Federal Reserve's decision to hold interest rates exacerbated worries about the health of the global economy. The Dow Jones industrial average was down 1.15 percent at 16,483.56, the S&P 500 was down 0.93 percent at 1,971.65 and the Nasdaq Composite was down 0.66 percent at 4,861.581.
** ADOBE SYSTEMS INC, $82.65, +2.91 pct
The Photoshop maker reported a 21 percent jump in quarterly revenue as more customers subscribed to its creative and marketing software products provided over the Internet.
Evercore ISI raised its price target on the stock to $88 from $84 and Jefferies to $92 from $90. Evercore analysts said that Adobe was beginning to see larger, multi-product deals come through its digital marketing pipeline.
** PARSLEY ENERGY INC, $15.21, -8.04 pct
The oil and gas producer announced an offering of 13 million shares of its Class A common stock. The offering size represents about 9.2 percent of the company's total outstanding shares as of May 12.