Earnings highlights: FedEx, Nike, Oracle, General Mills, Palm, Adobe and more

Adobe Systems Inc. (NASDAQ: ADBE) reported better-than-expected Q1 results due to cost cutting.
Best Buy Inc. (NYSE: BBY) received several upgrades ahead of its Q4 report on the demise of Circuit City.
Blockbuster Inc. (NYSE: BBI) crushed analyst's expectations for Q4 as same-store sales rose.
China Direct Industries Inc. (NASDAQ: CDII) Q4 earnings prospects resulted in an analyst's dowgrade.
Darden Restaurants Inc. (NYSE: DRI) posted better-than-expected Q3 earnings and lifted its 2009 guidance.
Energy Conversion Devices Inc. (NASDAQ: ENER) was downgraded after it lowered its guidance.
FedEx Corp. (NYSE: FDX) fell short of Q3 earnings and revenue expectations due to economic conditions.

Force Protection Inc. (NASDAQ: FRPT) shares fell despite posting a better-than-expected Q4 earnings.
General Mills Inc. (NYSE: GIS) missed Q3 expectations, sending shares to a 52-week low.
MGM Mirage (NYSE: MGM) was downgraded after posting a loss and receiving a going concern notice.
Nike Inc. (NYSE: NKE) topped Q3 earnings expectations but sales numbers were weak.
Oracle Corp. (NASDAQ: ORCL) topped Q3 profit estimates and announced its a quarterly dividend.
Palm Inc. (NASDAQ: PALM) Q3 loss widened due to stiff competition but the forthcoming Pre may help Q4.
Xerox Corp. (NYSE: XRX) shares declined after it warned about much lower earnings.

Also, Zac Bissonnette looks at how executives sacrifice long-term business objectives to pursue quarterly earnings expectations and boost their stock prices.

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Last updated: November 22, 2009: 07:08 AM

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