MSFT, NUAN and ADBE Rated by Street-Wire as the Industry Adapts to Changing Market Dynamics
(eTeligis.com Via Acquire Media NewsEdge) 2012 was a challenging year for the software industry as businesses scaled back spending on technology due to weak macroeconomic environment. Declining PC sales due to the continuing shift to mobile has also been a major concern for some companies in the software industry. However, the global economy showing signs of improvement, 2013 could see a rebound in technology spending, which augurs well for application software companies such as Microsoft Corp. (NASDAQ:MSFT), Nuance Communications Inc. (NASDAQ:NUAN)and Adobe Systems Inc. (NASDAQ:ADBE). Software companies, though, will have to adapt to the changing market dynamics, especially the shift to mobile. Street-Wire.com has added MSFT, NUAN and ADBE this morning to their Daily Rating Watch List. Rating can mean a number of things for investors and we encourage all shareholders to sign up to speak to a member of our research team today at
Last year, Microsoft launched its own tablets in order to capitalize from the shift to mobile. Recently, the Redmond, Washington-based company announced that its Surface family of PCs is growing with Surface Pro. The company noted that its Surface Pro with Windows 8 Pro is perfect for customers and businesses looking for the power and performance of a PC in a tablet package. Last month, Microsoft also released its financial results for the second quarter ended December 31, 2012. The company posted record revenue of $21.5 billion in the second quarter. MSFT has come under our radar and we have issued a new rating for this equity. Sign up for free below to find out more.
On Monday, Microsoft shares ended sharply higher even as the broad market saw a pullback. The stock rose 1.13% to finish the day at $27.86 on volume of 32.25 million. Microsoft shares are now approaching $28, which has been a stiff resistance level for the stock over the past few months. A strong bullish trend will be established if the stock can break through this level.
Nuance Shares Tumble on Outlook
Last Friday, Nuance Communications shares tumbled more than 18.5%.asthe company slashed its full-year sales and earnings outlook. The company lowered its 2013 sales outlook to $2.15 billion to $2.2 billion, compared to previous forecast of $2.17 billion to $2.22 billion. The company expects 2013 adjusted earnings to be between $1.76 per share and $1.87 per share, compared to $1.84 per share and$1.94 per share. NUAN has met 6 out of 10 characteristics we look for when ratingan equity. Register now for free below to find out more.
The stock extended its losses on Monday, falling another 2.40% to finish the day at $19.52. NUAN shares are now trading close to their 52-week low of $19.33. NUAN shares have fallen below key technical levels as a result of the recent sell-off.
Investors Await Adobes Q1 Results
Investors are waiting for Adobe Systems first quarter results, which will be released next month. Back in December, the company had reported record revenue in its fourth quarter. ADBE has met 8 out of 10 characteristics we look for when ratingan equity. Sign up for free below to find out more.
Adobe shares ended 1.23% lower at $38.64 on Monday. ADBE shares have traded in a very tight range over the past few weeks, struggling to break through $39 resistance level. A bullish trend will be established if the stock can break through this level.
Disclaimer:SWireNews Media is not a registered investment advisor, and nothing in this report is intended as a solicitation to buy or sell any security. A third party, www.street-wire.com has paidSWireNews Media four hundred and fifty dollars for the publication of this news release. NeitherSWireNews Media, nor the hiring party, has a financial relationship with any company whose stock is mentioned in this release.
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Anthony K. Merchant
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