Adobe Shares Soar to Record as Shift to Cloud Gains
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Adobe Systems Inc.’s shares soared to a record after the company posted quarterly subscriber gains that showed it is making progress in its transition to cloud software.
Adobe jumped 8.2 percent to $73.08 at the close in New York, after reaching $74.69, the highest price since the company’s initial public offering in 1986. The stock has gained 22 percent this year.