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Adobe Systems Incorporated (NASDAQ: ADBE) shares are trading higher by $7.30 at $129.65 in Friday's session.

The catalyst for the 6 percent gain is Q1 EPS beat of $0.07 along with a slight beat for sales. The company forecast Q2 earnings to come in above Wall Street estimates.

Most of the gains occurred during the after-hours and pre-market trading. After a higher open, it had a brief dip to $127.55 before continuing its move higher. The follow-through rally took the issue all the way to $130.30, but has fallen back under $130.00.

The Street was leaning the right way into the report as the issue made a new all-time high ($123.60) and closing high ($122.35) on Thursday.

Posted-In: Technicals Intraday Update Movers Trading Ideas


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