Mid-Afternoon Market Update: Adobe Continues Rally as Markets Look to Close in the Green

Toward the end of trading Friday, the Dow traded up 0.26 percent to 15,780.90 while the NASDAQ surged 0.18 percent to 4,005.75. The S&P also rose, gaining 0.14 percent to 1,777.93.

Yesterday, Adobe Systems

reported a

profit and issued a weak forecast. However, Creative Cloud subscriptions climbed by 402,000 to 1.4 million. Adobe's quarterly earnings fell to $65.3 million, or $0.13 per share, from $222.3 million, or $0.44 per share, in the year-ago period. Excluding one-time items, it earned $0.32 per share, matching analysts' estimates. Its revenue slipped 10% to $1.04 billion, versus estimates of $1.03 billion.

Diana Shipping

was up on Friday's session, gaining 9.71 percent to $12.22 after Morgan Stanley upgraded the whole dry bulk sector. Shares of Adobe Systems

got a boost, shooting up 12.22 percent to $60.59 after the company's Creative Cloud subscriptions climbed by 402,000 to 1.4 million. The company also reported a drop in its fiscal fourth-quarter profit and issued a weak forecast. Quiksilver

was also up, gaining 7.63 percent to $8.32 after the company

in the fourth quarter. B. Riley upgraded the stock from Neutral to Buy.

Shares of INSYS Therapeutics

were down 15.94 percent to $38.00 after the company

from Office of Inspector General. Anadarko Petroleum

was also down, dropping 7.51 percent to $77.40 after a judge ruled the company would be liable in the Kerr-McGee case. Darling International

was down, falling 5.05 percent to $18.99 after the company

of 40 million shares of its common stock at $19.00 per share.

In commodity news,

to $96.57, while gold traded up 0.87 percent to $1,236.70. Silver traded up 0.93 percent Friday to $19.69, while copper rose 0.42 percent to $3.31.

European shares

today. The Spanish Ibex Index gained 0.01 percent, while Italy's FTSE MIB Index climbed 0.01 percent. Meanwhile, the German DAX declined 0.12 percent and the French CAC 40 dropped 0.23 percent while U.K. shares fell 0.08 percent.

US wholesale prices dropped 0.1% in November, while core producer prices rose 0.1%. However, economists were expecting a 0.1% fall in producer prices.