"The Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said state-owned media China Daily.Traderead more
U.S. stock index futures turned lower after China said it needed to have further discussions before it would sign off on the so-called phase one trade deal President Trump...US Marketsread more
Analysts say the partial U.S.-China trade deal doesn't touch on thorny issues plaguing both sides, and warn talks could break down again.World Economyread more
Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago.China Economyread more
Economists Abhijit Banerjee, Esther Duflo and Michael Kremer won the 2019 Nobel Economics Prize for their work in fighting global poverty, the Royal Swedish Academy of...World Newsread more
Boeing's board removed CEO Dennis Muilenburg as chairman amid the fall out of two 737 Max crashes that killed 346 people.Aerospace & Defenseread more
The U.K. and EU are gearing up for what could be the busiest week in British politics since June 2016.Europe Politicsread more
The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
"It seems like what the two leaders have done is try to set some of the thorny political issues to the side," said Dhruva Jaishankar, director of the U.S. Initiative at the...Asia Politicsread more
Beijing will be opening up its financial industry to foreign ownership from January, namely in the areas of futures, mutual funds and securities.China Economyread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
Adobe jumped almost 10 percent Tuesday after the software company forecast a 20 percent upside for 2019 revenue, bolstered by recent acquisitions.
The stock closed at $260.67, making for its strongest day in nearly a year.
At an analyst meeting during the company's annual Max conference Monday, Adobe reiterated previous revenue estimates for fiscal year 2018 and issued 2019 revenue estimates that beat out Wall Street consensus.
The company is projecting 20 percent year-over-year revenue growth for fiscal year 2019 and roughly $1.4 billion of recurring revenue from digital media.
"Despite a few weeks of chatter about potentially light guidance in top line drivers like Digital Media ARR and Bookings, the company extinguished concerns," analysts for Stifel said in a note published Tuesday.
Adobe completed its purchase of online marketplace Magento last month, and plans to close a deal for digital marketing company Marketo later this quarter — in what is expected to be another boon for revenue.
"Adobe remains one of the preeminent vendors in the Digital Transformation space, having been one of the earliest movers in each of its core markets," Stifel said. "Combined with strategic M&A, the acceleration of Digital Transformation projects from the [Small and Medium Business] segment to the Enterprise has contributed to the expansion of Adobe's Total Addressable Market."
Adobe said Monday it now projects a total addressable market of $108 billion for 2021, an increase from $83 billion estimated for 2020.
The company also offered updates to product lines and introduced new applications for drawing and augmented reality. Adobe announced Monday Apple's iPad is getting a full version of Photoshop next year.
Shares of Adobe are up more than 70 percent in the last 12 months and are now just 6 percent off 52-week highs.
Correction: This story has been updated to correct that Adobe completed its purchase of Magento last month, and plans to close a deal for Marketo later this quarter. An earlier version of the story misstated the timelines of the deals.