Adobe Systems (ADBE) NewsBite - ADBE Rallying on Financial Statement
Thursday, July 10, 2008; Posted: 10:23 AM
Jul 10, 2008 (Fresh Brewed Media via COMTEX) --
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PowerRating -- Adobe Systems Inc. (ADBE) opened at 38.29. So far today, the stock has hit a low of 38.23 and a high of 39.26. ADBE is now trading at 39.06, up 0.83 (2.17%). The stock hit its 52 week high of 48.47 in October and set its 52 week low of 30.70 in March. ADBE fell at the end of 2007, but has been stronger since March. Shares of Adobe Systems have been rallying after the company released this morning its financial statement. Technical indicators for the stock are bullish but deteriorating while S&P gives ADBE a positive 4 STARS (out of 5) buy rating. If you're looking for a hedged play on this stock, consider an August bull-put credit spread below the $35 range. ADBE stock could fall up to 10.4% before expiration and this position would still be profitable.
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For full details on Adobe Systems Inc (ADBE)
click here. Adobe Systems Inc (ADBE) has Short Term PowerRatings of 6. Details on Adobe Systems Inc (ADBE) Short Term PowerRatings is available at
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