Adobe Catches a Bid

Updated from Oct. 26

Adobe Systems(ADBE Quote) was higher Wednesday in premarket trading after the software maker raised its fourth-quarter guidance and said fiscal 2005 sales should exceed current analysts' estimates.

The stock was recently up 78 cents, or 1.5%, to $54.50 on Instinet.

San Jose, Calif.-based Adobe raised its fourth-quarter revenue target to a range of $410 million to $425 million from a previous range of $400 million to $415 million. The software maker also said it now expects fourth-quarter earnings of 40 cents to 43 cents a share, up from a previous targeted range of 38 cents to 41 cents a share. ...