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Technology Stocks : Adobe (adbe) opinions -- Ignore unavailable to you. Want to Upgrade?

To: W. Ruane who wrote (2610)	4/16/1999 11:59:00 AM
From: Doughboy	Respond to of 3111

Stock Repurchase Ignites Adobe! Adobe Systems Incorporated Announces New Stock Repurchase Program PR Newswire - April 16, 1999 09:15 SAN JOSE, Calif., April 16 /PRNewswire/ -- Adobe Systems (Nasdaq: ADBE) today announced a new stock repurchase program, with its Board of Directors authorizing the repurchase of up to five million shares of Adobe common stock over the next two years. The timing and size of repurchases are subject to market conditions, stock prices and Adobe's cash position and requirements going forward. This new program is in addition to the Company's current repurchase program whereby the company is authorized to repurchase shares to offset issuances under employee stock option and stock purchase plans, which the Company plans to continue. As of April 2, 1999, the number of outstanding shares of common stock was 61.0 million. As Adobe implements the new stock repurchase program, it will consider several methods to acquire the Company's stock, including direct purchases, open market purchases, the use of put and call options, accelerated stock repurchase programs, and other potential methods. Founded in 1982, Adobe Systems is a leading provider of graphic design, publishing, and imaging software for Web and print production, and the second largest desktop software company in the world with annual revenues approaching $1 billion. Adobe's worldwide headquarters is in San Jose, California and its web site is located at www.adobe.com. NOTE: The Adobe logo and Adobe are trademarks of Adobe Systems Incorporated. All other trademarks are the property of their respective owners. SOURCE Adobe Systems Incorporated /NOTE TO EDITORS: This and all other PR related materials from Adobe Systems can be found online in the Adobe Press Room located at adobe.com /CONTACT: analysts, Jim Stephens, VP Investor Relations, 408-536-4416, or ir@adobe.com, or press, Linda White, Sr. Manager, Corporate PR, 408-536-3288, or linwhite@adobe.com, both of Adobe Systems Incorporated/ /Web site: adobe.com

To: W. Ruane who wrote (2610)	4/16/1999 12:17:00 PM
From: Doughboy	Read Replies (1) \| Respond to of 3111

Just taking a quick look, it appears that repurchase of 5 million shares would boost earnings from .62-.66 per share this coming quarter(what ADBE predicted during their last earnings release) to .68-.72 (assuming ADBE does all the purchases this quarter). Analyst ratings have improved. Two analysts went from hold to buy in the last month. IMO, ADBE is going to mid or high 60s by next earnings. Doughboy.