Adobe Tumbles After Downgrade
Shares of
Adobe Systems
(ADBE) - Get Report
were hit after
Banc of America
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.