Stocks Higher On Wall Street; Adobe Jumps

By: Associated Press
By: Associated Press

NEW YORK (AP) -- Stocks are 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.

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