Adobe plans wireless push

Article Excerpt

ADOBE SYSTEMS INC. $22 (Nasdaq symbol ADBE; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 524.2 million; Market cap: $11.5 billion; Price-to-sales ratio: 3.4; WSSF Rating: Average) is down from its August 2008 level of $46. This is partly because the recession has prompted users to postpone upgrading their Adobe software. Adobe plans to take advantage of the slump by acquiring other software companies, probably at bargain prices. It’s particularly interested in smaller companies that specialize in software for cellphones. This would let Adobe take advantage of growing consumer demand for downloadable video and music files. Adobe holds cash of $2.4 billion, or $4.47 a share. Its long-term debt is just $350 million, so it can easily afford to expand. Adobe is a buy. buy…