Updating Adobe Systems, Goodyear Tire & Rubber Co., Trimble Navigation, Oilexco and Wyndham Worldwide

Article Excerpt

ADOBE SYSTEMS $25.94 (Nasdaq symbol ADBE; SI Rating: Average) (408-536-6000; www.adobe.com; Shares outstanding: 531.0 million; Market cap: $13.8 billion) reported earnings in the latest quarter 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 for the launch of the new Creative Suite 4. That upgrade will be available in the fourth quarter of 2008. Adobe holds cash of $2 billion or $3.77 a share. Long-term debt of $350 million is a low 2.5% of its market cap of $13.8 billion. That gives the company plenty of room to finance new product…

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