Tech Article- 9/24/10

An Adobe Rollercoaster

Shares of Adobe Systems plummeted Wednesday after the software developer indicated that sales and earnings for its next quarter might fall short of expectations. Shares of Adobe fell more than 20% from Tuesday's close and at one point hit $25.81, a new 52-week low. However, things turned around when shares of Adobe jumped higher earlier this month, following news that Apple had loosened its grip on app development for its mobile devices. That move was expected to open the door for users to use tools from Apple's rivals -- most notably Adobe's Flash -- to build software for Apple's iPhones, iPads and iPods. Jeff Gaggin, an analyst at Avian Securities, added that the steep drop in Adobe's share price may make the company more attractive to firms that might be eyeing it for a takeover -- such as Google. 

Link to article: http://money.cnn.com/2010/09/22/technology/adobe_stock/index.htm