Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Early Facebook investor and Trump supporter Peter Thiel weighed in on the Democrats taking on the president in 2020, saying he was "most scared' by Elizabeth Warren.Politicsread more
Tensions between Japan and South Korea come as the U.S. and its trading partners are embroiled in a global trade war.Technologyread more
The one-to-eight stock split would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. It comes ahead of a reported Hong Kong...Asia Marketsread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
China's fiscal spending increased 10.7% in the first six months from a year earlier, the finance ministry said on Tuesday, underlining the government's bid to support the...China Economyread more
Beto O'Rourke's campaign for the 2020 election raised just $3.6 million in the second quarter of this year, putting him in the lower tier of candidates who have struggled to...2020 Electionsread more
Von der Leyen, one of the longest serving ministers in Germany, has tried to woo European lawmakers over the last two weeks.Europe Newsread more
The findings by McKinsey and Company come amid a year-long tariff fight between the U.S. and China, which has spilled into areas such as technology and security.China Economyread more
Microsoft's considerable reach into the corporate world isn't something Slack CEO Stewart Butterfield is very concerned about.Technologyread 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.