Adobe Down 20% On Weak Guidance
September 22, 2010 at 8:45 am · Category: Market Commentary, Stocks
Adobe (ADBE) reported a good fiscal 3rd quarter ended September 3 after the close yesterday but their guidance was a little weak. They forecasted 48 cents - 54 cents in earnings per share and $950 million - $1 billion in revenue for their fiscal 4th quarter while analysts were looking for 53 cents and $1.03 billion. For whatever reason, the stock is getting torched today as a result - down 20% on big volume.
Disclosure: Top Gun has no position in Adobe (ADBE) shares.
More on this topic
(What's this?)
Hot Stocks: Adobe Systems Inc. Drives Investors Away With Weak Forecast and Disappointing Growth ...
(Money Morning, 9/23/10)
Quick news – September 22 2010
(Intelligent Speculator, 9/22/10)
Story Stocks: Microsoft (NASDAQ:MSFT), Adobe Systems (NASDAQ:ADBE), General Mills (NYSE:GIS)
(Jutia Group, 9/22/10)
Leave a Comment
