Morgan Stanley has reduced estimates for Adobe Systems Inc because of continued weakness in Frame sales and general concerns about the company’s growth rate, due, in part, to weakness in the Apple Macintosh market. In addition, the upgrade to Illustrator was shipped a few days later than scheduled due to a bug fix. Sales for this product in the February quarter will likely be a bit below forecast. The financial analyst now predicts earnings per share will be four cents lower at $0.40 for the quarter, and 10 cents lower at $1.85 for the financial year which ends this November.
