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Actuant Corp., which makes industrial products, fell 94 cents, or 3.4 percent to $26.51 after predicting "uneven end market demand, notably in Europe and China." The company predicted revenue for its current and next fiscal years will be less than analysts had been expecting. Adobe Systems dropped 90 cents, or 2.7 percent, to $31.99. The software maker, whose products include Adobe Reader and Photoshop, issued a profit forecast late Tuesday that was weaker that analysts were expecting. Its income for the latest quarter fell 2 percent on higher expenses. La-Z-Boy plunged almost 13 percent after earnings came in far below what analysts were expecting. The stock lost $1.66 to close at $11.47. Markets in Europe rose and the euro strengthened against the dollar. Benchmark stock indexes rose 0.5 percent in Germany, 0.6 percent in Britain and 2.1 percent in Italy. Borrowing costs fell in Europe, too. Yields on government bonds in Spain and Italy fell, a signal that investors are less worried about the finances of those two countries. The yield on the benchmark 10-year Treasury note rose to 1.63 percent from 1.62 percent the day before as investors moved money out of low-risk assets. Randy Warren, chief investment officer for Warren Financial Service, lamented the focus on the Fed, saying investors should be thinking about where to put their money considering Europe's problems and a weak euro. He favors American companies who mostly do business in the U.S. "There's plenty to choose from for investors," he said. "They just have to think more than five minutes ahead."
[Associated
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