Flash wouldn't be worth its salt if you couldn't create some flashy effects with text. You can manipulate text in two ways:

• Transform text just like other objects. In other words, you can scale, rotate, skew, and flip type.
• Convert type to shapes by breaking it apart. Select the text and choose Modify, Break Apart. You can then edit the text in the same ways that you edit shapes. However, you can no longer edit the text as text — for example, correct a spelling mistake — so check your words before converting them!
• To animate text, you usually break it apart so that you can move letters individually. You can create animation where the letters of a word fly in toward the sentence to create the whole word, or, vice versa, where a word explodes, sending the letters flying outward.