Dec. 18 (Bloomberg) -- U.S. stocks climbed for the first time in three days, led by computer companies and energy producers, after Adobe Systems Inc. forecast profit above estimates and analysts said Hess Corp. may rally.

Adobe, the biggest maker of graphic-design software, rose after it predicted increased sales from its Flash program and Deutsche Bank AG upgraded the stock to ``buy.'' Hess, the fifth- largest U.S. oil company, climbed to a record after Friedman Billings Ramsey & Co. increased its forecast for crude oil.

The Standard & Poor's 500 Index gained 8.51, or 0.6 percent, to 1,453.3 as of 3:11 p.m. in New York. The Dow Jones Industrial Average added 69.33, or 0.5 percent, to 13,236.53. The Nasdaq Composite Index increased 20.94, or 0.8 percent, to 2,595.4. About five stocks rose for every two that dropped on the New York Stock Exchange.

``Large-cap technology is a good place to be,'' said Giri Cherukuri, who helps oversee $1.2 billion at Oakbrook Investments LLC in Lisle, Illinois. ``They're reasonably priced and offer the best growth opportunities, especially overseas.''

Profits at computer and software companies in the S&P 500 may rise 24 percent next year, according to the average estimate of analysts in a Bloomberg survey. That's the most among 10 industries in the index, data compiled by Bloomberg show. The benchmark has risen 2.6 percent in 2007.

Goldman, Banks

Today's gains were limited by a decline in bank shares after Goldman Sachs Group Inc.'s Chief Financial Officer David Viniar said he is ``cautious about the near-term outlook'' for the world's largest securities firm. Goldman earlier reported fourth- quarter profit that topped analysts' estimates.

Adobe added $1.53 to $42.43. The company issued a forecast that beat analysts' estimates on increased demand for its Creative Suite programs. The stock was upgraded to ``buy'' from ``hold'' at Deutsche Bank.

Hess added $4.34 to $89.03. Friedman analyst Eitan Bernstein raised his 2008 crude oil price forecast by 33 percent to $80 a barrel and ``long-term'' estimate by 55 percent to $85 a barrel. Bernstein boosted Hess's share-price forecast by 33 percent to $97.

The Organization of Petroleum Exporting Countries is ``aggressively defending high prices'' by managing production as demand from emerging markets keeps rising, Bernstein wrote in a note to investors.

H&R Block Inc. added 92 cents to $18.52. The biggest U.S. tax preparer said it has adequate liquidity because its capital needs are lower than in the previous year. The company has about $200 million in lines of credit and about $250 million of cash, interim Chief Financial Officer Becky Shulman said during a conference call for investors.

Utilities Rally

Utilities climbed 1.3 percent, the steepest gain among 10 industries in the S&P 500. Exelon Corp., owner of the largest U.S. commercial fleet of nuclear power plants, led advances after Merrill Lynch & Co. boosted its share-price estimate by 15 percent to $94. Analyst Jonathan Arnold recommended the shares to investors who are seeking safety in high-yielding securities amid an economic slowdown.

U.S. stocks completed their biggest two-day drop in more than a month yesterday, led by commodity producers, on concern a slowdown in bank lending will spur a recession. Borrowing costs fell today after the European Central Bank injected an unprecedented $500 billion into the financial system to ease gridlock in the credit market.

Goldman fell $6.67, or 3.2 percent, to $201.96, a three- month low. Earlier, the company said fourth-quarter net income climbed 2 percent to $3.22 billion, or $7.01 a share, topping analysts' estimates. Viniar said a lack of liquidity in world capital markets last month ``has to make us cautious'' about the near-term outlook.

Mortgage Market

Viniar also said the mortgage market has suffered a ``significant deterioration.'' The Federal Reserve voted unanimously today in favor of proposing new restrictions on subprime loans, including limiting penalties on borrowers who prepay their debts.

Best Buy Co. dropped 89 cents, or 1.7 percent, to $50.25. The company expects fourth-quarter profit of $1.70 to $1.80 a share, Jim Muehlbauer, interim chief executive officer at the largest U.S. consumer-electronics retailer, said on a conference call. That's lower than the $1.82 average estimate of analysts surveyed by Bloomberg.

Retailers in the U.S., mired in the worst holiday season since 2002, posted their smallest weekly sales gain in two months as discounts failed to entice consumers faced with $3-a-gallon gasoline, according to the International Council of Shopping Centers and UBS Securities LLC.

To contact the reporter on this story: Eric Martin in New York at emartin21@bloomberg.net.

Last Updated: December 18, 2007 15:14 EST