We've got rumors started by a blogger on the authoritative New York Times today that Microsoft might buy Adobe...

What Did Microsoft and Adobe Chiefs Talk About?
[bits.blogs.nytimes.com...]

The meeting, which lasted more than an hour, covered a number of topics, but one of the main thrusts of the discussion was Apple and its control of the mobile phone market and how the two companies could team up in the battle against Apple. A possible acquisition of Adobe by Microsoft were among the options.

...and we've got opinion saying the rumor isn't true, posted on a blog at cnet....

'Nonsense' on the Microsoft-Adobe rumor
[news.cnet.com...]

Spurred by a story in The New York Times that Microsoft was eyeing it for purchase, the stock of the software company went wild today.

It was up 11.5 percent to $28.69.

Except, according to numerous sources at both companies with whom I talked to today, it's "nonsense."