ADOBE AND MICROSOFT?
SAN FRANCISCO (MarketWatch) -- Shares of Adobe Inc. jumped more than 8% late Thursday afternoon on a report of a secret meeting the company held with executives of Microsoft Corp. Adobe (ADBE 28.45, -0.24, -0.84%) shares were last up $2 at $27.73 -- coming off their lowest level in 15 months. The New York Times reported on its Bits blog that Microsoft (MSFT 24.57, +0.04, +0.16%) CEO Steve Ballmer and a team met with Adobe CEO Shantanu Narayen at Adobe's offices in San Francisco. The meeting lasted an hour and covered topics ranging from Apple's control of the mobile phone market and the possibility that Microsoft and Adobe could merge, according to the report, which cited unnamed sources.
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