NEW YORK, NY / ACCESSWIRE / November 30, 2017 / It was a tough day for payment stocks on Wednesday. Both Adobe Systems and PayPal closed down in the red. Adobe Systems also announced this week that this year's Cyber Monday was the biggest online shopping day in history.

RDI Initiates Coverage on:

Adobe Systems Incorporated
https://rdinvesting.com/news/?ticker=ADBE

PayPal Holdings, Inc.
https://rdinvesting.com/news/?ticker=PYPL

Adobe Systems Incorporated shares closed down 4.61% on Wednesday on roughly 4.3 million shares traded. The company has called this year's Cyber Monday to be the largest online shopping day in history. Shoppers spent a record $6.59 billion by the time the day ended. According to Taylor Schreiner, the company's CEO, "With home virtual assistants and entertainment streaming devices selling fast this holiday season, it looks like home will continue to be at the center of peoples' digital lives." Adobe also said that mobile sales set a record and had its first $2 billion day ever. The company called smartphones the "de facto device for mobile shopping." Schreiner added, "The past Cyber Monday behavior of shopping on your work computer during the day is almost completely reversed. This year, mobile shopping was dominant both in the morning and afternoon, and desktop only staged a comeback in the evening when people were home." Adobe is expected to announce its next earnings results on Thursday, December 21st.

Access RDI's Adobe Systems Incorporated Research Report at:
https://rdinvesting.com/news/?ticker=ADBE

PayPal Holdings, Inc. shares closed down 5.84% yesterday on a little over 25 million shares traded. Trading volume on Wednesday was roughly three times higher than usual. It was a rough day for payment stocks yesterday which included PayPal, Visa, and Mastercard. As tax reform comes closer, it seemed there was a rotation of moving from out of growth oriented tech stocks and into plays with more value. PayPal's CFO John Rainey has recently said that the company wants to move beyond just payments. Rainey has said that the goal of the company is to "be an everyday part of our customers' lives and it's hard to do that if you are only in payments." He remarked, "We have a great competitive advantage," he said. "?something that is unique is we have a two-sided network ? 17 million merchants on one side and 200 million consumers on the other."

Access RDI's PayPal Holdings, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=PYPL

Our Actionable Research on Adobe Systems Incorporated (NASDAQ: ADBE) and PayPal Holdings, Inc. (NASDAQ: PYPL) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com