News Summary

Shares of ConAgra Foods Inc

fell about 0.1% after the company reported 16% y/y fall in its Q2 profit. The company's earnings came in at $0.46 per share. The company reported its adjusted net income at $0.45 per share. The company's sales increased to $3.16 billion, from $3.10 billion, in the year-ago period. However, analysts were expecting earnings at $0.45 per share on revenue of $3.13 billion. TD Bank Group

announced its plans to purchase Chrysler Financial from private equity firm Cerberus for $6.3 billion in cash, including $5.9 billion in net assets and around $400 million in goodwill. TD said, "The acquisition will give TD a platform for asset generation in the North American automotive lending market, enabling it to significantly grow its consumer loan portfolio." TD shares were up about 2.2% following the news. Shares of Adobe Systems Inc

surged about 5.4%, a day after the company posted upbeat quarterly results. Adobe projected its FQ1 earnings between $0.54 to $0.59 per share on a non-GAAP basis and revenue in the range of $1 billion to $1.05 billion. However, analysts estimated earnings of $0.51 per share on revenue of $991.3 million for the same period. Read more