NEW YORK ( TheStreet) -- Adobe ( ADBE) shares tanked 6.14% to $30.87 before market open on Wednesday as investors responded to the company's tepid third-quarter guidance, released late on Tuesday. The software maker comfortably beat Wall Street's second-quarter estimates, but warned of weakening demand in Europe. Adobe was one of the most active premarket Nasdaq stocks on share volume of 149,088. The recent momentum in Facebook ( FB) shares slowed early on Wednesday, as the social networker's stock slipped 0.41% to $31.78. Early Wednesday, Evercore Partners initiated coverage of Facebook with an equal-weight rating and a $39 price target. The analyst firm sees Facebook's long-term prospects as very positive, but warned that the company's near-term is "incrementally negative." Specifically, Evercore cited slowing desktop engagement, the potential displacement of Facebook's 30% cut on mobile virtual goods payments and the potential negative impact of lock-up agreements. "The company's lock-up expirations in late August are likely to place intensive technical pressure on shares," noted Evercore analyst Ken Sena. Shares of the Menlo Park, Calif.-based firm closed up 1.6% on Tuesday. Facebook partner Zynga ( ZNGA) crept up 0.34% to $5.99 early on Wednesday, after climbing more than 3% during Tuesday trading. Quest Software ( QSFT) fell 0.64% to $26.35 on Wednesday. The company agreed to a higher buyout bid of $2.17 billion on Tuesday after Insight Venture Partners added Vector Capital as a member of the buyout group. The amendment to the previously announced merger agreement increased the deal's value from $23 a share in cash to $25.75 a share in cash. The Aliso Viejo, Calif.-based firm was also one of the most active premarket Nasdaq stocks on share volume of 204,450. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.