Heavy Hitters: Adobe and Pandora Surge Higher, Rumors Surround Next Apple Event

Shares of Adobe Systems (NASDAQ:ADBE) jumped more than 4 percent in late afternoon hours. The computer software company reported weaker-than-expected earnings of 32 cents per share, but posted a 47 percent jump in subscribers. “We exceeded one million subscriptions during Q3, demonstrating that the transition to Creative Cloud is happening sooner than expected,” said Shantanu Narayen, president and chief executive officer, Adobe. “We successfully completed the acquisition of Neolane, adding a critical cross-channel campaign management solution to the Adobe Marketing Cloud, which will further extend our leadership position in digital marketing.”