Upbeat Forecast Boosts Adobe’s Stock
Adobe Systems Inc. shares rose 8.7% after the company said it expects to beat analysts’ third-quarter earnings estimates on a surge in orders for its desktop-publishing software. San Jose-based Adobe, whose programs let computer users create publications with sophisticated graphics, said earnings in the quarter ended Aug. 29 will exceed 49 cents a share, the high end of estimates from analysts. Adobe shipped more software after promotions for its Photoshop, Illustrator and PageMaker products and a new version of FrameMaker. Adobe shares rose $3.56 to close at $44.56 in Nasdaq trading.