Adobe Systems Inc. (ADBE) reported first quarter adjusted net income of $0.35 per share after the bell Tuesday, down from $0.57 per share a year ago. The consensus estimate was for EPS of $0.31.
Adobe Systems gapped open sharply higher Wednesday, but traded in a range for the majority of the session. The stock finished up by 1.71 at $42.46, with volume at a 3-month high. Adobe Systems rose above a 2-week range and set a new high for the year.
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