Adobe trades up after earnings and guidance, levels to watch The shares gapped up this morning and spiked higher before settling back closer to the gap. The company reported earnings of 61 cents versus expectations of 57 cents. It cut estimates for the year and quarter, but most analyst appear pleased with the migration of customers to cloud subscription. Resistance is at the high of the session at $38.10. Support is at the low of the session at $37.
FireEye, Adobe among quality 'flushed out' tech names, says JPMorgan JPMorgan analyst Sterling Auty says that market disruptions like the one seen in the last several days have historically provided a unique opportunity to invest in high-quality names and identified FireEye (FEYE), Adobe (ADBE), Veeva Systems (VEEV) and Rovi (ROVI) as four particularly interesting tech stocks that "appear flushed out" and now offer "exaggerated" risk/reward. The firm has Overweight ratings on all four stocks mentioned above after having upgraded Rovi to Overweight this morning.