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Adobe Tumbles After Downgrade

Shares of

Adobe Systems

(ADBE) - Get Adobe Inc. Report

were hit after

Banc of America

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downgraded the software company to market perform from buy.

The firm said revenue growth rates at the San Jose, Calif., company likely have leveled off.

Shares of Adobe, a maker of graphic design and publishing software, were recently trading down $6.13, or 8.1%, to $69.81 in

Nasdaq

trading.