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.

adbe-1-year-chart

Disclosure: Top Gun has no position in Adobe (ADBE) shares.

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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