Adobe to talk to the Street Analyst expects call to be 'acquisition or earnings related'
By Brenon Daly, CBS MarketWatch
Last Update: 6:19 PM ET Jun 1, 1999
Tech Report
Internet Stocks
Adobe shares are likely to be in play on Wednesday, as the company (ADBE: news, msgs) is planning a conference call with financial analysts before the market opens, CBS.MarketWatch.com has learned. "I'm assuming its acquisition or earnings related," said Bear Stearns analyst Robert Fagin. He didn't know any specifics behind the announcement. Adobe spokeswoman Christine Agrella declined to say what the would be covered in the conference call, which is scheduled for 6 a.m. Pacific time.
Adobe -- which makes Illustrator and Pagemaker among programs -- is scheduled to report its fiscal second quarter results on June 17, with analysts expecting 64 cents per share in earnings. The company told analysts at the end of its first quarter to raise their expectations. Originally, Wall Street saw Adobe earning 55 cents per share, but three months ago, the company said it would hit 62 to 66 cents per share in the quarter. Ahead of the call, Adobe dipped 1 5/8 to 72 1/2 on volume that was lighter than average. |
