Even at these levels, those long the shares for more than a few months still have profits to protect.
The cloud stock's results weren't great, but were nothing close to the FedEx disaster.
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Overall, analysts were disappointed with the performance of Adobe's recently-acquired Marketo unit.
The data-storage company updated the investment community ahead of its financial-analyst meeting on Thursday.
FedEx is in a tough position, although the stock is already knocked down 10%. Adobe may have a better outlook than some think.
The company's fiscal third-quarter earnings and revenue beat analysts' forecasts, but guidance for the fourth quarter was below expectations.
Analyst Mark Murphy has been bullish on Splunk's fundamentals for at least three quarters, but concern about valuation kept the firm neutral. After a cash-flow guide-down, the `Street consensus [is] largely derisked.'
Adobe investors were disappointed with management's guidance, which missed analysts estimates.
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