Shares of Adobe Systems Inc. ADBE, +6.46% and Microsoft Corp. MSFT, +7.57% are up in Monday trading after the two companies announced an extension of their China partnership.
Adobe’s stock is up 3.4%, while Microsoft’s is up 5.9%. The companies also announced new native integrations between the Adobe Experience Manager and Microsoft Azure, among other products.
Also on Monday, a Morgan Stanley analyst raised his Microsoft price target to $130, the highest on Wall Street, according to FactSet.
Adobe shares have gained 74% over the past year, while Microsoft shares are up 42%. The Dow Jones Industrial Average DJIA, +2.84% is up 16% over the past 12 months, compared with a 12% gain for the S&P 500 SPX, +2.72%
