293.60 +0.06 (0.02%)
After hours: 4:40PM EST
|Bid||293.57 x 1100|
|Ask||293.65 x 1300|
|Day's range||290.26 - 293.70|
|52-week range||204.95 - 313.11|
|Beta (3Y monthly)||1.08|
|PE ratio (TTM)||52.23|
|Earnings date||12 Dec 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||316.76|
The Zacks Analyst Blog Highlights: Berkshire Hathaway, Adobe Systems, BHP, BlackRock and Aktiengesellschaft
(Bloomberg) -- Adobe Inc. debuted its most important mobile application ever this week when it finally released Photoshop for Apple Inc.’s iPad. But with key capabilities missing, many within the company’s vast fan base have panned the application, prompting the app’s overseer to publicly defend his product.Scott Belsky, chief product officer of Adobe’s Creative Cloud division, tweeted about the “painful” early reviews for a product his team has worked on for years. Right now in Apple’s App Store, Photoshop for iPad has a user review rating of 2.3 out of 5 stars. Belsky tweeted a screenshot of the metric, saying it made sense that a re-imagination of a popular 30-year-old product would displease many. Bloomberg News reported last month that the beta version of the touchscreen Photoshop app upset testers who missed many of the popular functions they’d grown accustomed to over the years.“If you try to make everybody happy w/ a v1, you’ll either never ship or make nobody happy,” Belsky tweeted. “Such feats require customer feedback to truly exceed expectations. You must ship and get fellow passionate travelers on board. But for a team with the right vision and commitment, being doubted and critiqued is motivating and informing.” Belsky also responded to users who tweeted about not enjoying Photoshop on Apple’s tablet, recommending they try Adobe’s drawing app, Fresco. While it’s hard, it’s important to build products “with customers” rather than “hidden in the lab,” he added.Read more: Adobe Pitches Illustrator, Photoshop for IPad Amid Slowing SalesAdobe has embarked on the arduous task of bringing its most successful software franchises to mobile devices to maintain its stature as the world’s largest maker of creative software. The San Jose, California-based company said this week it will bring Illustrator to the iPad in 2020.While the apps cater to creative professionals seeking the ability to work on the go, Adobe also is trying to expand the appeal of its photo-editing and illustration software to hobbyists. The strategy may boost revenue growth for the Creative Cloud unit. Adobe projected in September that sales growth for its smaller marketing software unit would slow down in the current period, raising pressure on the main creative business.\--With assistance from Mark Gurman.To contact the reporter on this story: Nico Grant in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Edwin Chan, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- TikTok, the music-video-sharing mobile app owned by China’s ByteDance Inc., unveiled new tools to let third-party developers integrate their content onto its platform, seeking to deepen ties in the U.S. even as it faces growing scrutiny from lawmakers over data security.The new features will let TikTok users edit videos in other apps, such as Adobe Inc.’s Premiere Rush, and publish them directly on TikTok, helping users create new original content. In addition to Adobe, TikTok is also teaming up with augmented-reality company Fuse.it, photo- and video-editing program PicsArt, image-animating app Plotaverse and other outside app developers. TikTok, known for light-hearted, buzzy short videos, is one of the few Chinese internet companies to catch on in the U.S. Integration with third-party services can help apps expand into new audiences, and it’s a strategy that was used aggressively by social media companies like Facebook Inc. and Twitter Inc. in their earlier years. But such integrations have also posed a threat to user privacy, primarily because users who agree to post from one app to another often share much more information than they realize.This kind of data sharing is at the root of almost all of Facebook’s privacy issues that have surfaced over the past two years. Facebook had many information-sharing relationships with third-party developers, and some of them, like the researcher who sold user data to Cambridge Analytica, took advantage of the partnership to collect massive amounts of data from Facebook users without their knowledge. Facebook has since tried to clean up those partnerships, and announced in September that it had severed ties with tens of thousands of third-party apps that were using its software. TikTok has been downloaded more than 110 million times in the U.S., and has been growing more popular among U.S. teens at a time when tensions have escalated between the U.S. and China over trade and technology. TikTok’s burgeoning popularity has made it a fresh rival to Facebook and Instagram, and has also drawn the attention of U.S. senators who see it as a potential threat.Last week, the U.S. government opened a national security review of TikTok, according to a person familiar with the investigation. Beijing-based ByteDance bought Musical.ly two years ago for almost $1 billion to merge it with TikTok. The deal was seen as a way for the Chinese company to expand abroad and capitalize on an increasing appetite for short video. The Committee on Foreign Investment in the U.S., also known as CFIUS, which reviews deals by foreign acquirers for potential national security risks, has begun to review the purchase amid increasing concern about TikTok’s expanding influence.The companies included in TikTok’s new program are likely to get a boost from the integration. For a small developer like Plotaverse, a partnership with TikTok could have a sizable impact on visibility and growth.(Removes an earlier misstatement from Plotaverse in the last paragraph of the Nov. 4 story saying TikTok would help it access the Chinese market. Plotaverse later retracted that statement.)\--With assistance from Kurt Wagner.To contact the author of this story: Candy Cheng in San Francisco at firstname.lastname@example.orgTo contact the editor responsible for this story: Jillian Ward at email@example.com, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
U.S. stock indexes hit new highs amid U.S.-China trade war progress. Quarterly earnings results, including Uber. The episode then closes with a look at why The Boston Beer Company (SAM) is a Zacks Rank 1 (Strong Buy) stock...
Investing.com – Wall Street inched higher on Tuesday as mixed earnings releases offset rising hopes of a trade deal between Washington and Beijing, fueled by newspaper reports suggesting the U.S. is ready to compromise on some of China's core demands.
(Bloomberg) -- Adobe Inc. gave an upbeat recurring revenue forecast for fiscal 2020 that reassured investors the software maker will see steady demand for its creative applications.A measure of fresh demand for the company’s creative and document software, net new annual recurring revenue for digital media, will be $1.55 billion next fiscal year, the San Jose, California-based company said Monday at a financial analyst meeting. Analysts projected $1.53 billion, according to data compiled by Bloomberg. Wall Street is paying close attention to the metric amid slowing revenue growth overall.Adobe unveiled new software products Monday at the company’s annual Max conference in Los Angeles, including versions of Illustrator and Photoshop apps for Apple Inc.’s IPad. While many of the applications cater to creative professionals seeking more sophisticated capabilities, Adobe also is trying to expand the appeal of its photo-editing and illustration software to hobbyists. The strategy may boost sales growth for the Creative Cloud unit. Adobe projected in September that sales growth for its smaller marketing software unit would slow down in the current period, raising pressure on the main creative business.Profit will be $9.75 a share in fiscal 2020, Adobe said, compared with analysts’ estimates of $9.69. Revenue will be $13.15 billion, the company said. Analysts, on average, projected $13.14 billion.The company expects revenue from its Creative Cloud and Document Cloud suites to jointly grow 19% in fiscal 2020, while its marketing software suite will grow 16%.“Our expanding universe of customers, strong global brand, market-leading products and continued innovation position us for a stellar 2020,” Chief Executive Officer Shantanu Narayen said in a statement.The software maker estimated that the total market for its products will grow to about $128 billion in 2022 from $108 billion a year ago. Most of that, $84 billion, represents marketing and customer experience software. The creative software industry would be worth $31 billion and the company’s Document Cloud would be part of a $13 billion market.Adobe, founded in 1982, is among the best-performing software companies in the decade, with its stock increasing almost ninefold since the beginning of 2012. Shares jumped about 5% in extended trading following the release of the fiscal 2020 projections. The stock closed earlier at $277.50 in New York.(Updates with market figures in the seventh paragraph.)To contact the reporter on this story: Nico Grant in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew Pollack, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Adobe Inc. announced a slew of products, led by a version of Illustrator for Apple Inc.’s iPad, meant to fortify its position as the leading provider of creative software.Design app Illustrator will come to the iPad in 2020, the San Jose, California-based company said Monday in a statement. Bloomberg News reported last month that Adobe would announce a version of Illustrator for the iPad. Adobe also formally launched Photoshop for iPad, a year after announcing the product. The company introduced the new offerings at its annual creative conference, called Max, in Los Angeles.While many of the applications cater to creative professionals seeking more sophisticated capabilities, Adobe also is trying to expand the appeal of its photo-editing and illustration software to hobbyists. The strategy may boost revenue growth for the Creative Cloud unit. Adobe projected in September that sales growth for its smaller marketing software unit would slow down in the current period, raising pressure on the main creative business.Adobe, founded in 1982, is among the best-performing software companies this decade. Its stock has increased almost ninefold since the beginning of 2012, gaining 23% this year to $277.82 at Friday’s close. Now, the company is revamping major apps for mobile devices amid waning consumer enthusiasm for PCs. The new apps underscore Adobe’s need to deliver software to consumers on whatever devices they use as it tries to fuel continued growth.The announcements Monday are akin to “launching a new version of Creative Cloud for a new era of creativity,” Scott Belsky, chief product officer of Adobe’s Creative Cloud division, said in a blog post.The company said it was eager to get feedback from Illustrator users as it develops a mobile version of the software for the first time.“We’re still in the early stages, but fundamentally, we’re reimagining the Illustrator experience from the ground up to take advantage of the unique capabilities a tablet offers in terms of touch and Apple pencil,” Adobe said in a blog post.The company also revealed a new tool for its XD software interface design app that allows users to collaborate on the same project in real time, called Co-Editing. It’s currently in beta testing. The concept is similar to that of Figma Inc., a creative startup whose main product competes with the XD app.Here are Adobe’s other major announcements:The software maker expanded a partnership with International Business Machines Corp.’s design services arm. The deal lets IBM iX offer design software for business clients built on the Adobe XD platform.Adobe launched an augmented reality software program, called Aero, which it first announced last year at Max.The company updated its Rush mobile video-editing app to share videos directly to viral social media app TikTok, owned by China’s ByteDance Inc.To contact the reporter on this story: Nico Grant in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew Pollack, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Zacks Analyst Blog Highlights: Pivotal Software, Verizon Communications, Dell Technologies, Microsoft and Adobe
Cloud computing is growing rapidly and with an estimated CAGR of 22.3% in 2023 investing in these five stocks might be beneficial for investors.