Filed under: Bad news, Industry, Microsoft (MSFT), Nokia Corp. (NOK), Adobe Systems (ADBE), Options, Technical Analysis

Adobe Systems (NASDAQ: ADBE) stock is trading lower this morning on reports that competitor Microsoft (NASDAQ: MSFT) is beginning tests of new business programs to be offered as online services. MSFT is attempting to increase its presence in a sector of the software industry where it is uncharacteristically behind the curve, which could be a bad sign for ADBE. Yesterday, cellphone manufacturer Nokia (NYSE: NOK) announced it would start to support Microsoft’s Silverlight, a direct competitor of Adobe’s Flash. If you think this stock won’t be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on ADBE.

After hitting a one-year high of $48.47 in October, the stock hit a one-year low of $32.08 last month. This morning, ADBE opened at $33.00. So far today the stock has hit a low of $32.01 and a high of $33.08. As of 12:45, ADBE is trading at $32.34, down $0.73 (-2.2%). The chart for ADBE looks bearish and steady, while S&P gives the stock a positive 4 STARS (out of 5) buy rating.

Continue reading Adobe (ADBE) slides as Microsoft makes advances

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This entry was posted on Thursday, March 6th, 2008 at 9:09 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.