Stocks Open Higher on Wall Street; Adobe Jumps 3/20/13
NEW YORK - Stocks are opening higher on Wall Street as the European island nation of Cyprus seeks alternatives to a bailout plan its legislature overwhelmingly rejected the day before.
Adobe Systems rose 4 percent to $42.39 after the software maker reported strong earnings for its first fiscal quarter late Tuesday.
FedEx fell 4 percent to $101.86. The package delivery company reported a 31 percent plunge in income as customers shifted to less-expensive international shipping options.