Topic: Growth Stocks

The Stock Pickers Digest Hotline – Friday, September 19, 2008

Article Excerpt

Today’s rebound in the market is reassuring, but I expect stocks to remain highly volatile for a month or more. After that, we could see a six-month rebound in prices. The U.S. bailout of major financial institutions raises inflation risk over the next few years, but it heads off panic. Nobody can predict market bottoms, but I suspect we are much closer to the bottom than the top. ADOBE SYSTEMS INC. $40.94, symbol ADBE on Nasdaq, rose this week after reporting earnings that exceeded consensus expectations. Excluding one-time items, earnings per share in the three months ended August 29, 2008 rose 11.1%, to $0.50 from $0.45 a year earlier. That beat expectations of $0.46 a share. Revenues rose 4.2%, to $887.3 million from $851.7 million. In the latest quarter, stronger sales of established products such as Acrobat, Flash and Photoshop software boosted Adobe’s revenues and earnings. However, sales of its Creative Suite 3 software fell 10%, as customers delayed purchases to wait…