Adobe shares jump after Apple decision on Flash

Shares of Adobe Systems Inc. jumped Thursday after Apple Inc. removed one obstacle keeping developers of mobile software for Apple's app store from using Adobe's technology.

THE SPARK: Apple said that it will lift a ban on third-party software developers using tools that translate code written for other venues. That means app developers will be able to covert programs written with Adobe's Flash technology without having to rewrite them using a competing standard.

THE BIG PICTURE: Apple CEO Steve Jobs has resisted allowing Flash on Apple's mobile gadgets, calling it outdated and unreliable. He favors alternatives such as HTML5.

Because Apple products such as the iPhone and iPad have proven so popular, the company's resistance to Flash threatened to push more software developers away from Adobe's technology.

SHARE ACTION: Adobe shares jumped $3.17, or 11 percent, to $32.48 in morning trading.

Source: businessweek

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