Adobe Shares Down 5% As Microsoft Acquisition Rumor Is Seen Less Likely

Posted: Oct 8 2010, 8:36am CDT | by , in Technology News


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Adobe Shares down 5% as Microsoft Acquisition Rumor is seen less likely

Share of Adobe are down almost 5% at marketing opening today. Adobe jumped 12% after rumors appeared that Microsoft is going to buy Adobe. The rumors started after word got out in a New York Times story that Steve Ballmer met with Adobe CEO Shantanu Narayen.

I don't think that Microsoft would benefit much right now from acquiring Adobe. They are gauged right on their performance in the mobile space and cloud services. It is every time impressive what a single story can do on the stock market.

Now the Adobe stock is down over 5%. I guess it will go back to where it was before the rumor broke by the end of the day.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
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