Shares of Adobe Inc. ADBE, +2.59% rose 2.59% to $688.37 Friday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX, -0.14% falling 0.14% to 4,697.96 and Dow Jones Industrial Average DJIA, -0.75% falling 0.75% to 35,601.98. This was the stock’s second consecutive day of gains. Adobe Inc. hit a new 52-week high, surpassing its previous peak of $677.76, which the company reached on November 5th.
The stock outperformed some of its competitors Friday, as Microsoft Corp. MSFT, +0.54% rose 0.54% to $343.11, Salesforce.com Inc. CRM, -0.60% fell 0.60% to $301.17, and SAP SE ADR SAP, -1.07% fell 1.07% to $140.95. Trading volume (3.0 M) eclipsed its 50-day average volume of 2.2 M.