Biz Break: Adobe shines and Zuckerberg jogs in the smog

Top Of The Order: 

Good Friday Comes Early For Adobe: The actual Good Friday is still a week away. But, based on how Adobe Systems did this Friday, the San Jose-based software company might petition to have this year’s calendar retroactively changed.

On Friday, Adobe shares reached an all-time high of $98 in the wake of the company’s strong fiscal fourth-quarter results, which came out late Thursday. Adobe said that for the quarter ended March 4, it earned 66 cents a share on $1.38 billion in revenue, which topped analysts’ expectations for earnings of 61 cents a share on sales of $1.34 billion.

At the heart of Adobe’s report was its Creative Cloud product, which accounted for $932 million of the company’s quarterly sales. Creative Cloud’s revenue also climbed by 33 percent from a year ago. The gains in Creative Cloud were seen as more evidence of Adobe’s success in moving to a subscription-based business model.

Adobe also helped its case by forecasting second-quarter earnings of 64 cents to 70 cents a share, on revenue in a range of $1.37 billion to $1.42 billion. Analysts had earlier forecast Adobe to earn 65 cents a share on $1.39 billion in sales.

Adobe pulled back from its high point, but still ended the day with a gain of almost 4 percent to close Friday at $93.42 a share.

Middle Innings:

The Jog Heard ‘Round The World: Here’s a little poem for the weekend…

Facebook Mark, was in China

And went to go a-joggin’

He ran past Mao, but all we saw

Was how bad Beijing was smoggin’

Yes, Facebook Chief Executive Mark Zuckerberg likes to keep up with his running plan, even if it leads to breaking the Internet after he posted a photo of himself, and a group of runners jogging across Tiananmen Square Friday. The most amazing things about the photo were that Zuckerberg apparently wears the same gray t-shirts to go running outdoors as he does when he’s running Facebook, and that Beijing appeared to be completely enveloped in a cloud of smog.

//

It’s great to be back in Beijing! I kicked off my visit with a run through Tiananmen Square, past the Forbidden City and over to the Temple of Heaven. This also marks 100 miles in A Year of Running. Thanks to everyone who has been running with me — both in person and around the world!

Posted by Mark Zuckerberg on Thursday, March 17, 2016

Needless to say, the Internet went bonkers, wondering how Zuckerberg could run in a city where the air quality appeared to be equal to that of what it would be like if you parked your car in your garage and ran the engine with the door shut.

While we admire Zuckerberg for his commitment to his roadwork, we want to give even greater props to the Mercury News’ own Michelle Quinn, who will take on the Oakland Marathon this Sunday. The skies are also supposed to be much clearer than those in Beijing for Zuckerberg’s Smog Jog.

Shutterfly Finds A CEO Deal In Amazon: Redwood City-based Shutterfly named a new chief executive Friday, as the photo-services company picked Christopher North for its new top boss. North, who will officially start at Shutterfly’s CEO on May 31, has been managing director of Amazon UK since 2011.

Maybe Jada Said It Was OK?: The announcement started simply enough:

“Marketo Announces Additional Keynote Speaker for 2016 Marketing Nation Summit.”

No big deal. Tech companies, in particular, are always having “summits” or conferences and include keynote speakers. But they are often ones affiliated with the company, or the company’s industry.

Which is why when the statement said this “additional keynote speaker” was “Actor, producer, musician and philanthropist Will Smith,” we couldn’t help but wonder, “Huh?”

Smith will be on stage with Marketo CEO Phil Fernandez during the conference’s May 10 kickoff at the MGM Grand Las Vegas Hotel and Casino. We assume Smith knows at least something about what San Mateo-based Marketo does. At the very least, maybe the MGM is comping him a breakfast buffet and some blackjack chips? Or maybe after sitting out the Oscars, he decided it would be best to not boycott Marketo’s shindig?

Bottom Of The Lineup:

Here’s a look at how some leading Silicon Valley stocks did Friday…

Movin’ On Up: Affymetrix shares climbed more than 14 percent, and gains also came from QuinStreet, Aemtis, Accuray and Barracuda Networks.

In The Red: Losses came from SunPower, Sigma Designs, Shutterfly, Pandora Media and Impax Laboratories.

The SV150 Index of Silicon Valley’s biggest companies rose 1.2 percent to 1,596.

The tech-focused Nasdaq Composite Index rose 0.4 percent to end the day at 4,795.

The blue chip Dow Jones Industrial Average added 0.7 percent to close at 17,602.

And the broad-based Standard & Poor’s 500 Index rose 0.4 percent to 2,049.

Quote Of The Day: “AYYYYYY!” — The Fonz, Fonzie, Arthur Fonzarelli, as played by actor Henry Winkler, who will be signing his latest children’s book, “Here’s Hank: You Can’t Drink a Meatball Through a Straw,” at 7 p.m. Friday at Montclair Presbyterian Church, 5701 Thornhill Drive in Oakland. Winkler will be joined by his co-author Lin Oliver.

Sign up for the 60-Second Business Break newsletter at www.siliconvalley.com.

Photo: This handout picture taken and provided by Facebook on March 18, 2016, shows Facebook CEO Mark Zuckerberg (gray shirt) running past Tiananmen Gate. (Facebook via AFP Getty)

 

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