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Adobe — Shares slipped 15% after the software company issued weak revenue guidance for its current quarter. Revenue guidance came out in the range between $110.5 million and $112.5 million, also below the $113.4 million expectation from analysts. Smartsheet — The business software provider retreated by 3.2% after posting revenue guidance that was worse than analysts expected. Ulta Beauty — Shares edged lower by 5.3% after the beauty products retailer posted disappointing full-year earnings guidance. Steel Dynamics — Shares of the Indiana-based steelmaker rose more than 2% after strong earnings guidance for the first quarter.
Persons: Geron, Piper Sandler, Jabil, PagerDuty, Smartsheet, Ulta, Stocks, cryptocurrencies, bitcoin, MicroStrategy, Cardlytics, , Alex Harring, Jesse Pound, Lisa Kailai Han, Michelle Fox Theobald Organizations: Geron, U.S, Food, Drug Administration, Micron Technology, Citi, Micron, Adobe, FactSet, Marathon, Steel, Steel Dynamics, Wall Street Locations: Indiana
Check out the companies making the biggest moves in premarket trading: Rivian Automotive — The EV stock added nearly 4% following an upgrade by Piper Sandler to overweight . Adobe — Shares fell 11% a day after the software company issued weak revenue guidance for its current quarter. Ulta Beauty — Shares tumbled 6.5% a day after the beauty retailer issued full-year earnings guidance that came in on the low end of the consensus forecast. Revenue guidance is in the range of $110.5 million and $112.5 million also below the $113.4 million analyst expectation. Revenue guidance also fell short.
Persons: Piper Sandler, Alexander Potter, Ulta, bitcoin, amortization, Zumiez, , Sarah Min Organizations: Micron Technology, Citi, Micron, Adobe Locations: cryptocurrencies, FactSet
Despite that, Adobe beat analysts' predictions on both lines in its fiscal first quarter and announced a $25 billion share buyback. Ulta — The beauty retailer slipped 5% as full-year earnings expectations came in on the low end of Wall Street's forecast. Ulta said to anticipate between $26 and $27 per share for earnings over the entire year. Smartsheet — The business software provider retreated by 7% as revenue guidance underwhelmed Wall Street. Meanwhile, analysts polled by FactSet forecast $262.3 million in revenue for the quarter and $1.14 billion for the year.
Persons: Ulta, Cardlytics, Zumiez, FactSet, Smartsheet Organizations: Adobe, LSEG, Wall, FactSet
Azenta — The life science stock jumped 13% on Tuesday, a day after the company delivered its fiscal fourth-quarter report. Home Depot — Shares of the home improvement retailer jumped 6% after the company posted third-quarter earnings and revenue that beat expectations. Enphase Energy , Solar Edge , First Solar – The solar power stocks surged on Tuesday, with Enphase adding nearly 14%. Solar companies and tech stocks are sensitive to interest rates, and fare well when bond yields decline. Adobe — The software stock climbed nearly 2% in midday trading.
Persons: FactSet, Matthew Shattock, Fisker, — CNBC's Pia Singh, Alex Harring, Michelle Fox, John Rosevear, Darla Mercado Organizations: Enphase, Solar, V.F, Corp, Amazon Web Services, Therapeutics, Federal, Deutsche Bank, EV, Adobe
General Motors assembly workers picket outside the General Motors Bowling Green plant during the United Auto Workers national strike in Bowling Green, Kentucky, October 10, 2019. Apellis Pharmaceuticals — The biopharmaceutical company climbed 3.5% before the open after Wells Fargo upgraded to overweight from equal weight. General Motors , Ford , Stellantis — GM and Ford fell less than 1% and Stellantis rose less than 1% after the United Auto Workers went on strike Thursday night. DoorDash — Shares of the food delivery company slid almost 3% premarket after MoffettNathanson downgraded DoorDash to market perform from outperform. Adobe — Shares fell 3.4% on the back of the company's fiscal third-quarter earnings report Thursday.
Persons: , Piper Sandler, Piper, Morgan Stanley, Wells, Apellis, Stellantis, MoffettNathanson, Needham, Goldman Sachs, — CNBC's Brian Evans, Michelle Fox, Alex Harring, Hakyung Kim, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: Motors, General Motors, United Auto Workers national, Pharmaceuticals, Ford, United Auto Workers, Unity, Bank of America, Arm, Nasdaq, JPMorgan, LSEG Locations: Bowling Green , Kentucky, — The Cleveland, DoorDash, British
Nucor — The steelmaker fell 6.1% after offering worse-than-expected guidance for third-quarter earnings, with the company pointing to pricing and volume challenges. Core & Main — The infrastructure stock retreated 4.1% a day after it announced a secondary stock offering. The bank said Apellis has a favorable risk/reward ahead of third-quarter earnings. The Wall Street firm said the resumption of loan repayments introduce bookings risk to food delivery. The Wall Street firm said its pessimistic outlook was changing despite recent underperformance in the reinsurance space.
Persons: Stellantis, Chris Rondeau, Rondeau, Craig Benson, Nucor, Raymond James, Needham, Charles Shi, Lam, Goldman Sachs, Apellis, MoffettNathanson, Estée Lauder, Goldman, Yun Li, Jesse Pound, Samantha Subin, Pia Singh, Brian Evans, Lisa Kailai Han Organizations: UAW, General Motors Wentzville, General Motors, Ford, United Auto Workers began, Workers, CNBC, LSEG, PTC Therapeutics, Medicines Agency's, Medicinal Products, Arm, Investment, Bloomberg News, Apple, Dexcom, ASML Holding, Lam Research, Taiwan Semiconductor, Adobe, Bank of America, JPMorgan, Apellis Pharmaceuticals, Waste Systems Locations: Wentzville , Missouri, New Hampshire, Wells, underperform
David Wadhwani, senior vice president of digital media for Adobe, speaks during the launch of Adobe Creative Cloud and CS6 in San Francisco, April 23, 2012. Redwire — The space infrastructure stock soared 5.6% Wednesday after Roth MKM initiated research coverage of the company with a buy rating. The firm said Redwire, which went public via a special purpose acquisition company in 2021, has "several billions worth of pipeline revenue opportunity." Citigroup — Shares advanced nearly 1.7% after the bank's CEO Jane Fraser announced a corporate reorganization Wednesday amid a stock slump. Adobe — Stock in the software company added about 2.1% in midday trading ahead of quarterly results Thursday.
Persons: David Wadhwani, Roth MKM, Jane Fraser, Nio, General Motors, , Alex Harring, Hakyung Kim, Brian Evans, Samantha Subin, Tanaya Macheel Organizations: Adobe, Adobe Creative, Moderna —, Centers for Disease Control, Pfizer, Moderna, U.S . Food, Drug Administration, Citigroup —, Citigroup, Airline, American Airlines, Spirit Airlines, European Commission, Adobe —, FactSet, Traders, Ford Motor, General, UBS, Ford, General Motors Locations: San Francisco, U.S, Nio —, China
But the company posted $33.85 billion in quarterly revenue, under the $34.13 billion anticipated by analysts. Planet Labs — The satellite imagery stock slipped 2.6% in premarket trading after delivering a weaker quarterly report than expected on Thursday. DocuSign — The electric signature stock advanced 2.4% premarket on the heels of a stronger-than-expected quarterly report released Thursday. The Wall Street firm said Snowflake is in an advantageous position with "best-in-class growth rates" and is set to benefit from increased demand for artificial intelligence applications. The Wall Street firm cited First Solar's strong growth message during its investors day.
Persons: Kroger, LSEG, DocuSign, Davidson, Snowflake, Mizuho, RH —, Gary Friedman, , Yun Li, Sarah Min, Jesse Pound, Michelle Fox, Scott Schnipper Organizations: Planet Labs, LSEG, Deutsche Bank, Mizuho, Gilead Sciences, Bank of America Locations: Gilead
OpenAI has been holding talks with media organizations to discuss a licensing deal. But tensions with The New York Times have increased, and the newspaper is exploring legal action, per NPR. The New York Times is considering suing OpenAI over an intellectual property dispute, NPR reported. People involved in the negotiations told the FT that news publishers could be paid a subscription fee by AI companies who want to use their content to develop the technology. The New York Times and OpenAI did not immediately respond to Insider's request for comment, sent outside US working hours.
Persons: OpenAI, ChatGPT —, Google's Bard, they're, OpenAI —, Sarah Silverman Organizations: New York Times, NPR, Morning, Microsoft, Adobe, Financial Times, The Times, News Corp, Street Locations: London
Check out the companies making the biggest moves in premarket trading:Walmart — Shares added as much as 1% after the big-box retailer raised its full-year forecast and reported an earnings and revenue beat. Adobe — The software company added about 2% after Bank of America upgraded shares to buy from neutral. Hawaiian Electric — The utility company that oversees Maui Electric sank nearly 18% in premarket trading, continuing its slide over concerns of its potential liability in Maui's wildfires. On Wednesday, the Wall Street Journal reported Hawaiian Electric is in talks with firms that specialize in restructuring. VinFast Auto — Shares of the electric vehicle start-up fell nearly 5% in premarket trading as VinFast's stock searches for its level after debuting earlier this week.
Persons: Adobe, Cuban's, Wolfspeed, , Alex Harring, Jesse Pound, Michael Bloom Organizations: Walmart, Refinitv . Revenue, Cisco Systems, postmarket, Refinitiv, Revenue, Adobe, Bank of America, Maui Electric, Wall Street Journal, CVS, California, Drug Company, Amazon Pharmacy, BAE Systems Locations: Williston , Vermont, California
SoFi Technologies – Shares of the fintech company popped more than 18% after it reported second-quarter results and lifted its full-year guidance. ON Semiconductor — The chipmaker's shares jumped 3.2% after it posted an earnings and revenue beat for the second quarter. New Relic — Shares jumped 13.4% after a private equity consortium announced it would take the software company private. Sweetgreen — The salad chain's shares jumped 11% Monday after an upgrade from Piper Sandler. Adobe — The software stock jumped 3.9% after Morgan Stanley upgraded the shares to overweight from equal weight.
Persons: FactSet, Disney, Kevin Mayer, Tom Staggs, Bob Iger, Spero, Sweetgreen, Piper Sandler, XPeng, Cowen, Morgan Stanley, Morgan Stanley's, Goldman Sachs, Wayfair, Salesforce's, — CNBC's Hakyung Kim, Yun Li, Sarah Min, Tanaya Macheel, Samantha Subin Organizations: SoFi Technologies, Disney, Financial Times, Food and Drug Administration, UBS, Hasbro, of, Bank of America, CVS, Adobe, Chevron, New York Community Bancorp, Deutsche Bank, CSX, RBC Locations: Bob Iger .
Chevron — Shares rose 1.6% after Goldman Sachs upgraded Chevron to buy from neutral and hiked its price target. Hasbro — The toymaker added 2.9efore the bell after Bank of America upgraded the stock to buy from neutral. United Parcel Service — Shares fell 1% after Credit Suisse downgraded UPS to neutral from outperform, citing labor concerns. Cowen also raised its price target to reflect about 78% potential upside. SBA Communications — Shares fell 1.6% in premarket trading.
Persons: Morgan Stanley, Goldman Sachs, Jefferies, Walt Disney, Bob Iger, Kevin Mayer, Tom Staggs, XPeng, GoodRX, Cowen, It's, , Alex Harring, Hakyung Kim, Tanaya Macheel, Samantha Subin Organizations: Chevron, Ford, Disney, Financial, UBS, Hasbro, Bank of America, United Parcel Service, Credit Suisse, CVS, SBA Communications, Semiconductor, FactSet Locations: U.S
iRobot — The stock surged 19% after U.K. regulators approved Amazon's $1.7 billion acquisition of the Roomba vacuum cleaner maker. Cava Group — Cava Group shares dropped 15% during trading Friday, giving back some of its gains from its massive debut Thursday on the New York Stock Exchange. SoFi Technologies — The financial technology stock dropped more than 8% after both Bank of America and Piper Sandler downgraded it to neutral from buy, citing SoFi's recent run higher. Micron Technology — Shares dipped 1.5% after Micron Technology said a China chip ban could hurt the company. Truist Financial — Shares fell 1.6% after Odeon Capital Group downgraded Truist Financial to hold from buy, according to FactSet.
Persons: Richard Branson, iRobot, Piper Sandler, Refinitiv, Morgan Stanley, Joseph Moore, — CNBC's Michelle Fox, Alex Harring, Yun Li Organizations: Virgin Galactic —, West Pharmaceutical Services, Bank of America, — Cava, New York Stock Exchange, Technologies, Adobe, Nvidia, Devices, Micron Technology, U.S . Securities, Exchange Commission, — Humana, Odeon Capital Locations: China
Check out the companies making the biggest moves in premarket trading:Virgin Galactic — Shares soared nearly 45% in premarket trading, a day after the company said its first commercial space tourism flight is set for later this month. Adobe — The tech stock rallied nearly 5% following its earnings and revenue beat after the bell Thursday. SoFi Technologies — Shares dropped about 6% after being downgraded by Piper Sandler to neutral from buy. Cava Group — The newly debuted restaurant stock rose more than 4% in premarket trading on Friday, extending its massive gains from Thursday's session. DraftKings — Shares rose more than 1% after the online betting company made a $195 million offer for PointsBet's U.S. assets, outbidding Fanatics.
Persons: Piper Sandler, Oppenheimer, Cava, , Jesse Pound Organizations: Virgin Galactic —, Adobe, Markets, Micron Technologies, Bloomberg, Micron, DraftKings, PointsBet's U.S Locations: India
On Thursday, Braze posted a non-GAAP loss of 13 cents on revenue of $101.8 million. Analysts called for a loss of 18 cents per share and revenue of $98.8 million, according to FactSet. Joby Aviation , Archer Aviation — On Friday, Canaccord Genuity initiated coverage of Joby Aviation and Archer Aviation with a buy rating, saying the urban air mobility firms are positioned for the long term. Sonoma Pharmaceuticals on Thursday announced an intraoperative pulse lavage irrigation treatment that could replace IV bags for some surgical procedures. Adobe — Shares popped 3.4% after Wells Fargo upgraded the software stock to an overweight rating, saying AI should drive continued upside for the stock.
Persons: Braze, Goldman Sachs, Canaccord Genuity, Archer, Tesla, Motors — Tesla, Mary Barra, DocuSign, Allan C, Thygesen, Refinitiv, Wells, — CNBC's Michelle Fox, Alex Harring, Samantha Subin Organizations: GMC, General Motors, Joby Aviation, Archer Aviation, Sonoma Pharmaceuticals —, Sonoma Pharmaceuticals, Motors, GM, Adobe, , Citi Locations: Austin , Texas, America
Check out the companies making headlines in premarket trading. Tesla , General Motors -- Both carmaker stocks were climbing in premarket trading, with gains of 5.7% and 5%, respectively. General Motors announced on Thursday plans to utilize Tesla's electric vehicle charging network, and said its vehicles will also utilize Tesla's North American Charging Standard port in its cars starting in 2025. Nio — Shares of the electric vehicle company dipped 2% in premarket trading after it reported that vehicle sales decreased 0.2% year over year. The company's vehicle margin and net loss also worsened year over year.
Persons: Corning, Morgan Stanley, Wells, Sonoma, , Macheel, Jesse Pound Organizations: Target Corp, General Motors, Adobe, Citi, Sonoma Pharmaceuticals Locations: Queens, New York, Europe, U.S
Check out the companies making the biggest moves in premarket trading:GameStop — Shares plummeted nearly 21% in premarket trading. Wynn Resorts , Las Vegas Sands — The casino operators both shed about 2% following a downgrade by Jeffries to hold from buy. Signet Jewelers — Shares tumbled nearly 11% after the jeweler provided second-quarter revenue and operating-income guidance that fell short of expectations. T-Mobile — Shares of the wireless provider added about 1% in premarket trading after Wolfe Research upgraded T-Mobile to outperform from peer perform. HashiCorp - The stock sank more than 22%, a day after the company reported a first-quarter earnings miss and revenue beat.
Persons: Matthew Furlong, Ryan Cohen, Jeffries, Zhu Jiang, Wolfe, HashiCorp, Jesse Pound, Sarah Min, Brian Evans Organizations: GameStop, Wynn Resorts, Sands, Signet, Reuters, Mobile, Wolfe Research, Adobe, Adobe Express Locations: New York, Las, China
GameStop — The meme stock tumbled nearly 18% after the company fired CEO Matthew Furlong and appointed Ryan Cohen as executive chairman, effective immediately. Carvana — Shares popped 56% after the online car seller issued an upbeat outlook for the second quarter. Carvana said it now expects non-GAAP total gross profit per unit to come in above $6,000 in the second quarter. Smartsheet — Smartsheet tanked more than 17.5% after the software company said billings came in at $215.5 million, falling short of a StreetAccount estimate of $217.1 million. Trip.com posted earnings per share of 43 cents, beating a StreetAccount estimate of 26 cents.
Persons: Matthew Furlong, Ryan Cohen, Wells, Carvana, Wolfe, Fisker, Rod Lache, Chris Licht, Jefferies, billings, Lilly Pulitzer, Tommy Bahama, Trip.com, Yun Li, Alex Harring, Sarah Min, Michelle Fox, Tanaya Macheel Organizations: GameStop, Signet, Signet Jewelers, Wolfe Research, Warner Bros, CNN, Wynn Resorts, Sands, Mobile, Adobe —, Adobe, Oxford Industries Locations: Wells Fargo, Las, Macao
A customer walks past an ATM outside of a First Republic Bank branch in Manhattan Beach, California, on March 13, 2023. First Republic Bank — Shares of First Republic erased earlier losses and were last up about 22%. UiPath — The stock surged 17.5% after the automation software company reported fourth-quarter adjusted earnings per share of 15 cents, beating the StreetAccount estimate of 6 cents per share. Adobe — The software maker saw its stock jump nearly 5% after the company reported fiscal first-quarter results that topped Wall Street estimates. The Wall Street firm said the stock has fallen to levels that are attractive.
Check out the companies making the biggest moves in premarket trading:Credit Suisse — U.S.-listed shares of Credit Suisse gained nearly 6% after the Swiss bank said it will borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. Occidental Petroleum — Shares rose nearly 1% after Warren Buffett's Berkshire Hathaway bought another 7.9 million shares, totaling $466.7 million. Baidu — U.S. listed shares of Baidu sank nearly 6% after the Chinese tech company unveiled its ChatGPT alternative, Ernie bot. PagerDuty — Shares rallied nearly 6% after the digital operations management platform's earnings and revenue topped estimates for the fourth quarter. Adjusted earnings per share came in at 8 cents per share, versus the 2 cents expected, per Refinitiv.
Credit Suisse — Credit Suisse shares rallied almost 7% after a statement from the Swiss Financial Market Supervisory Authority and the Swiss National Bank said that the bank is currently well capitalized. Shares tumbled 13.9% during Wednesday's trading session after Credit Suisse's largest investor, Saudi National Bank, said that it could not provide the Swiss bank with any further financial assistance. The company reported adjusted earnings of $3.80 per share and revenue of $4.66 billion. Five Below reported revenue that topped Wall Street's expectations, according to Refinitiv, and earnings were in-line with estimates. PagerDuty — The digital operations management platform's stock gained 3% after reporting an earnings and revenue beat for the fourth quarter.
Right now its roughly $5 billion-in-revenue ads business largely consists of search ads sold within the App Store. We asked more than a dozen advertising industry insiders and former Apple advertising staffers to identify the most important executives building Apple's advertising business. Teresi's ascent coincides with the explosive growth of Apple's ad business in recent years. A former Yahoo and Quantcast staffer, Crawford first joined Apple in 2011 to work on global operations for iAd. Lauren Fry - Apple TV+ ad salesApple hired Fry, a TV and video ad sales veteran, in February this year, The Information reported.
Live Nation — The ticker seller fell 9%, despite reporting fourth-quarter revenue of $4.29 billion, up about 60% year over year and topping StreetAccount's estimate of $3.6 billion. EOG Resources — The energy company dropped 5.1% after reporting fourth-quarter earnings, excluding items, that were short of analysts' expectations, according to StreetAccount. Etsy — Etsy slipped 4.8%, a day after gaining more than 2% on its fourth-quarter earnings beat. The company also offered cautious guidance for its first quarter, anticipating $2.95 billion to $3.15 billion in gross merchandise revenue. However, Autodesk beat fourth-quarter expectations on the top and bottom lines, according to Refinitiv.
The meat-alternative company reported a loss per share of $1.05, lower than the expected $1.18, according to Refinitiv. Sweetgreen — Shares of the salad chain shed about 10% after Sweetgreen issued weaker-than-expected revenue guidance for the first quarter and full year, according to Refinitiv. Fourth-quarter revenue also fell short. MercadoLibre — MercadoLibre jumped 5% after the South American e-commerce firm reported fourth-quarter earnings of $3.25 per share on revenue of $3 billion. EOG Resources — EOG Resources slid 3.6% after the energy company reported fourth-quarter earnings, excluding items, that were short of analysts' expectations, according to FactSet.
Goldman Sachs — Goldman Sachs shares slumped 1% amid news that the Wall Street firm will cut up to 8% of its workforce. The layoffs are slated to come in January and hit all areas of the Wall Street firm, CNBC reported, citing people familiar with the matter. The Wall Street firm cited recent underperformance in net adds as well as growing macro headwinds to advertising revenues. Lincoln National — Shares dropped more than 4% after Lincoln National was downgraded to underperform from hold at Jefferies, according to StreetAccount. JD.com and Alibaba shares rose more than 1% .
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