Adobe shares fly to record heights on the cloud

Adobe’s fourth-quarter profit fell and its overall revenue shrank, it reported Thursday. But its shares are soaring to a record today, thanks to some cloudy news. The cloud we speak of is where Adobe has been moving its software business since late 2011. 

Adobe Systems Inc. (ADBE) rose to a record after the company said yesterday that it signed up online customers at a faster-than-projected clip, adding to evidence the largest maker of graphic-design software is reducing its dependence on the slumping personal-computer market.