Adobe Slides After Lowering Guidance

shares were trading lower by $1.50 92 percent) at $78.44 in Wednesday's session. Despite announcing a Q2 EPS beat with inline revenues, the Street is focusing on its reduced its sales guidance for FY2015; The company now expect sales to come in at $4.84-$4.88 billion vs.$4.92 billion estimates. In a volatile session, it revisited Tuesday's close ($79.94), reaching $$80, before swooning to $77.74 before staging a rebound. That level coincides with its June 10 low of $77.99. The $80 level has ended many rallies in the issue after its all-time high was put in place on May 21 at $80.74. Since making the low, it has rebounded to $78.65, but has temporarily stalled.