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☆ Buy these five stocks ahead of earnings before it's too late, Bank of America says
▼ + stars: | 2024-04-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

CNBC Pro combed through Bank of America research to find the firm's favorite buy-rated stocks ahead of company earnings. They include: CoStar Group, Fidelity National Information Services, Cisco, Home Depot and Adobe. Bank of America upgraded the stock to buy from neutral earlier this week, citing several positive catalysts. "A growth company buying a growth company," he said of the deal. Home Depot "A growth company buying a growth company.

Persons: Tal Liani, Liani, Robert Ohmes, Ohmes, Jason Kupferberg, Kupferberg Organizations: Bank of America, CNBC, Fidelity National Information Services, Cisco, Home, Adobe, Cisco Time, Home Depot, Fidelity National Information, FIS Locations: Bank, Atlanta, buybacks

☆ Adobe shares drop 13% on weak quarterly revenue guidance
▼ + stars: | 2024-03-15 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Adobe shares fell 13% on Friday morning after the company reported first-quarter results that beat estimates but delivered a light quarterly revenue forecast. Its revenue of $5.18 billion exceeded the $5.14 billion analysts estimated. "No change to our view that Adobe is a major AI beneficiary," the analysts wrote in a Thursday investor note. Barclays dropped its price target for shares of Adobe to $630 from $700 while maintaining an overweight rating for the stock. "A smaller than expected beat in Digital Media Net New ARR likely increases investor concerns around competitive pressures," the analysts wrote.

Persons: Shantanu Narayen, Morgan Stanley Organizations: CNBC, New York Stock Exchange, Adobe, Bank of America, Barclays, Creative, Digital Media Locations: New York City

Learn moreAdobe's Creative Cloud All Apps plan gives you access to over 20 popular Adobe apps for one monthly payment. The apps in the Creative Cloud include Photoshop, After Effects, and Acrobat Pro, as well as Dreamweaver, Illustrator, and InDesign. So, it actually works out cheaper to subscribe to the Creative Cloud All Apps plan if you want access to more than one Adobe app. As part of the All Apps plan, you'll get access to tutorials that will teach you how to make the most out of the tools. The All Apps plan also includes 20,000+ fonts and over one million free photos, drawings, and video clips to help you create your own unique look for your brand.

Persons: There's Organizations: Business, Acrobat, Creative, Adobe

☆ Adobe launches AI assistant that can search and summarize PDFs
▼ + stars: | 2024-02-20 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Adobe on Tuesday launched an artificial intelligence assistant in its Reader and Acrobat applications that can produce summaries of and answer questions about PDFs and other documents. The AI assistant, currently in beta, is now available on Acrobat, "with features coming to Reader over the coming days and weeks," according to a news release. The AI assistant will help users digest information from long PDF documents by generating brief overviews of their contents, the company said. Adobe's AI assistant is a built-in feature. You want to understand the summary, you want to have a conversation with it, you want to ask questions," Narayen said.

Persons: David Wadhwani, Adobe, Shantanu Narayen, you've, Narayen Organizations: Adobe, Adobe Creative, CNBC PRO Locations: San Francisco

☆ Adobe shares slide on weaker-than-expected forecast for 2024
▼ + stars: | 2023-12-13 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Adobe shares dropped more than 6% in extended trading Wednesday after the software maker posted a lighter-than-expected forecast for 2024. Net income increased 26% to $1.48 billion, or $3.23 per share, up from $1.18 billion, or $2.53 per share, in the year-ago quarter. Adobe called for fiscal 2024 earnings per share of $17.60 to $18 on $ $21.3 billion to $21.5 billion in revenue. During the quarter Adobe increased the costs of some subscriptions. Prior to the after-hours move, Adobe shares were up almost 86% this year, outperforming the S&P 500 stock index, which has gained about 23%.

Persons: Wall, LSEG, Anil Chakravarthy, Shantanu Narayen, Narayen, Adobe Organizations: Adobe, Creative, Creative Cloud, European Commission, U.S . Department of Justice, DOJ, U.S . Federal Trade Commission, Restore, FTC, CNBC PRO Locations: LSEG

☆ UK regulators say Adobe's $20 billion Figma acquisition could harm competition
▼ + stars: | 2023-11-28 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Britain's top competition watchdog said Tuesday that Adobe 's proposed $20 billion acquisition of Figma could harm the U.K.'s digital design sector, findings that could mean a major setback for the merger. The Competition and Markets Authority said the deal could "eliminate competition," "reduce innovation" and "remove Figma as a threat to Adobe's flagship Photoshop and Illustrator products," according to a release. Adobe announced plans to buy Figma, which allows users to collaborate on app and website design, for $20 billion in September last year. "We are reviewing the provisional findings and will reengage with the CMA on the facts and merits of the case." David Wadhwani, a key Adobe executive behind the Figma deal, expressed frustration in October over the slow pace of regulatory approval.

Persons: David Wadhwani, Figma, Jordan Novet, Shantanu Narayen Organizations: Adobe, Adobe Creative, Markets Authority, U.S . Department of Justice, European Union, CMA, CNBC Locations: San Francisco

☆ Stocks making the biggest moves midday: Home Depot, Fisker, SolarEdge and more
▼ + stars: | 2023-11-14 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

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

☆ Eli Lilly and more: Strategist names 5 stocks set for 'significant' earnings growth
▼ + stars: | 2023-11-10 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

Rising rates and the possibility of a recession on the horizon have created a "mixed picture" for equity markets, according to one strategist — but several companies can look forward to markedly stronger earnings growth in the next year. "But, if you're looking for significant earnings expansion, I suspect, at a market level, that's probably less likely. The earnings growth rate for the S & P 500 was 3.7% year-on-year – the first quarter with year-on-year growth since the third quarter of 2022, the data showed. "What Eli Lilly is going to do with their weight loss drug is not dependent on whether the rates are 5.2% or 4.8%. "People didn't really talk about [Adobe] — everyone assumed that they were going to be a loser from AI," he said.

Persons: —, they're, Rahul Ghosh, Rowe Price, Ghosh, Eli Lilly, Powell, Software Ghosh, — CNBC's Annika Kim Constantino Organizations: Healthcare Healthcare, UnitedHealth Group, Fellow, Food and Drug Administration, Software, Adobe Creative, Adobe Express

☆ The Adobe exec behind the Figma deal expresses frustration over slow pace of regulatory approval
▼ + stars: | 2023-10-17 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Adobe has said it expects to close the Figma deal in 2023. Adobe has agreed to pay Figma $1 billion if regulators reject the deal, or if it isn't completed by mid-March 2024. Tools for creative expression, documents and marketing all represent growth opportunities for Adobe, and Figma is the fourth leg of the stool, Wadhwani said. Since revealing its intent to buy Figma, Adobe has been busy releasing and promoting tools for generative artificial intelligence that can develop images and other content in response to a few words of human input. Adobe replied that "in an innovative and dynamic market XD cannot be considered a 'material' competitor to Figma."

Persons: David Wadhwani, they've, Wadhwani, there's, Dylan, Figma's, Adobe Organizations: Adobe, WSJ Tech, U.S . Department of Justice, European Union, Microsoft, Activision Blizzard, U.S . Federal Trade Commission, United Kingdom's, Markets Authority, Figma Locations: Laguna Beach, Calif, United Kingdom, San Francisco

☆ AI won't replace creative jobs just as the invention of the camera didn't make paintings obsolete, Adobe exec says
▼ + stars: | 2023-10-11 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Adobe executive Ashley Still said AI advancements won't kill creative jobs in an interview with Fortune. Still compared AI to the invention of the camera and its impact on paintings. Companies across industries are rushing to incorporate AI into their businesses, alarming workers. AdvertisementAdvertisementAdobe introduced new AI features across its various Creative Cloud tools including Adobe Photoshop and Adobe Illustrator Tuesday. Companies across various industries are rushing to incorporate AI into their businesses.

Persons: Ashley Still, Fortune, —, Adobe's, Taco Bell Organizations: Service, . Companies, Gallup

☆ Top Wall Street analysts pick these five stocks for compelling returns
▼ + stars: | 2023-10-01 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

However, the current scenario also offers an opportunity to pick stocks that could generate attractive returns despite short-term pressures. To that end, here are five stocks favored by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. The analyst said the results reinforce his view of Adobe as a winner in an emerging generative artificial intelligence world. "This strategy should enable creatives to better appreciate the productivity benefits of generative AI more quickly, and make Firefly-powered generative AI offerings a critical part of their workflows, creating competitive differentiation as well as increasing the overall value of Creative Cloud," said Zelnick. Rangan holds the 509th position among more than 8,500 analysts on TipRanks.

Persons: Shantanu Narayen, Mark Neuling, Wall, Brad Zelnick, Zelnick, TipRanks, Baird, Colin Sebastian, Sebastian, Bing, Goldman Sachs, Kash Rangan, Rangan Organizations: Adobe, CNBC, Adobe Software, Deutsche Bank, Microsoft Tech, Microsoft, Windows, Bing, TipRanks, FedEx

☆ Stocks making the biggest moves midday: Citigroup, Adobe, Corteva and more
▼ + stars: | 2023-09-13 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

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

☆ Adobe rolls out AI features, plans for price hikes and payouts
▼ + stars: | 2023-09-13 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Adobe makes Photoshop and other editing tools that form the core of its Creative Cloud subscription software business. For the past six months, the company has been steadily adding new AI features to those programs, such as the ability to generate images from text. Adobe customers will get a certain number of "credits" toward using generative AI features. Adobe also said it will pay the contributors to its stock imagery databases that are used to train its AI systems. After that, Adobe will start paying out the bonus each year for the training work done with its AI systems.

Persons: Ely Greenfield, Stephen Nellis, Richard Chang Organizations: Wednesday, Adobe, Reuters, Thomson Locations: San Francisco

☆ Bank of America upgrades this software stock, says it can be the next A.I. leader
▼ + stars: | 2023-08-17 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

"In a blue-sky scenario, we arrive at AI revenue of $1 billion in FY24, growing to $2.9 billion by FY26 (which assumes 33% Firefly penetration to Creative Cloud/Express users)." Bank of America's upgrade follows a similar move from Morgan Stanley last month . Morgan Stanley raised its rating on Adobe to overweight from equal weight — also citing the company's AI potential. Adobe stock has soared more than 52% in 2023. ADBE YTD mountain Bank of America's forecast implies more than 22% upside for Adobe.

Persons: Brad Sills, Adobe, Sills, Morgan Stanley, —, CNBC's Michael Bloom Organizations: of America, Adobe, Cloud, Bank of, America's

☆ BMO names this software stock as a top pick, citing A.I. tailwinds
▼ + stars: | 2023-08-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Adobe could be another generative AI winner, according to BMO Capital Markets. Analyst Keith Bachman named Adobe its top pick in a Tuesday note, replacing Palo Alto Networks . "For ADBE, we believe that generative AI can be a meaningful tailwind to net new ARR, starting mostly in FY24. Generative AI can also help with the price and mix of Creative Cloud solutions, according to the analyst. Bachman raised his price target on shares to $600 from $575, implying more than 13% upside from Monday's close.

Persons: Keith Bachman, Bachman, —, Michael Bloom Organizations: BMO Capital Markets, Adobe, Palo Alto Networks, BMO

☆ Adobe's Figma deal faces EU competition investigation
▼ + stars: | 2023-08-07 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationBRUSSELS, Aug 7 (Reuters) - Adobe's (ADBE.O) $20 billion bid for cloud-based designer platform Figma could reduce competition in global markets for interactive product design tools and also shut out rivals, EU antitrust regulators said on Monday. The European Commission said it opened a full-scale investigation into the deal after a preliminary review triggered concerns, confirming a Reuters story last month. The deal would remove an important rival and could allow Photoshop maker Adobe to restrict competition in the global markets for supply of interactive product design tools, the EU antitrust watchdog said. It said the acquisition could also affect Figma's potential for growth into an effective competitor to Adobe's asset creation tools and effectively reduce competition in interactive product design tools by bundling Figma with Adobe's Creative Cloud suite. The EU competition enforcer said it would decide by Dec. 14 whether to clear or block the deal.

Persons: Dado Ruvic, Competition Margrethe Vestager, Adobe, Foo Yun, Sharon Singleton, David Goodman Organizations: REUTERS, European Commission, Reuters, Tech, Zoom Video Communications, Adobe, Competition, EU, Thomson Locations: BRUSSELS

☆ Morgan Stanley upgrades Adobe, cites A.I. acceleration
▼ + stars: | 2023-07-31 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Morgan Stanley thinks Adobe can benefit from artificial intelligence-powered products even more. The bank upgraded Adobe to overweight from equal weight on Monday and hiked its price target to $660 per share from $510. Morgan Stanley's new forecast now implies nearly 25% upside. "Importantly, GenAI products like Firefly coupled with enhancements to flagship applications renew our confidence in a robust product innovation engine at Adobe," Weiss said. Weiss also pointed to the popular Adobe Creative Cloud, which could push the company's earnings-per-share compounded annual growth rate to toward 17% from 2022 to 2025.

Persons: Morgan Stanley, Adobe, Morgan Stanley's, Keith Weiss, Weiss, — CNBC's Michael Bloom Organizations: Adobe

☆ A.I. should help this software company get customers to stay and spend more, BMO says
▼ + stars: | 2023-06-21 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Artificial intelligence could help Adobe win customers and get them to pay more for products, according to BMO Capital Markets. Analyst Keith Bachman upgraded the software stock to outperform from market perform and hiked his price target by $70 to $570. His new price target implies shares could rally 17.3% in the next year from Tuesday's close. "We believe that ADBE can capture price/mix, as well as new users, through generative AI," he said in a note to clients Wednesday. He added that users would likely be willing to spend more on solutions that utilize AI.

Persons: Keith Bachman, Bachman, — CNBC's Michael Bloom Organizations: Adobe, BMO Capital Markets, Adobe Express Locations: Tuesday's

☆ Stocks making the biggest premarket moves: GameStop, Wynn Resorts, Lucid, Adobe & more
▼ + stars: | 2023-06-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

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

☆ Tech companies including Adobe are taking a new look at a big industry debt issue
▼ + stars: | 2023-04-13 | by ( Rachel Curry | ) www.cnbc.com time to read: +5 min

Adobe cloud business insightsDespite the drag of technical debt that the data suggests, some industry executives say it gets a bad reputation. In this sense, technical debt is a signal of iteration. Adobe head of strategic development for creative cloud partnerships Chris Duffey is looking to reshape technical debt. "I would offer to reframe technical debt as the value of insight gathering throughout the innovation creation process," Duffey said. Despite reduction of operational costs, legacy systems in the technical debt bucket are core operational functions that an organization can't just turn off.

☆ A.I. could drive $7 trillion in global growth in 10 years, Goldman estimates. Here's how to play it.
▼ + stars: | 2023-03-28 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Within that, generative AI has a total addressable market of $150 billion, Goldman said. We believe Generative AI can streamline business workflows, automate routine tasks and give rise to a new generation of business applications," Goldman analysts wrote in a recent research report. But generative AI is able to produce new content such as text, video, images or computer code — putting it a step ahead. "Generative AI tools have far-reaching implications across industries, from enterprise software to healthcare, financial services and more," Goldman said. With the tech giants already incorporating it into their products, Goldman sees generative AI boosting sales, productivity and product innovation.

☆ General Motors selects Adobe Experience Cloud to deliver real-time customer engagement and personalized EV journeys
▼ + stars: | 2023-03-22 | by ( Sponsor Post | Created Adobe With Insider Studios | ) www.businessinsider.com time to read: +6 min

To support this goal, GM has selected Adobe Experience Cloud to deliver one-to-one personalized interactions at scale for millions of its customers. For instance, if an individual has just purchased an EV, GM can immediately deliver communications on charging stations, routine maintenance, and helpful mobile app features. For instance, if an individual has just purchased an EV, GM can immediately deliver communications on charging stations, routine maintenance, and helpful mobile app features. Adobe Customer Journey Analytics provides cross-channel insights, empowering GM teams to optimize marketing efforts and customer experiences over time. A single source of truth about GM customers can be leveraged by any team that touches the customer experience.

☆ Jim Cramer's top 10 things to watch in the stock market Thursday: Banks, Fed, TikTok and Amazon
▼ + stars: | 2023-03-16 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Shares of FRC drop roughly 30% in premarket trading despite the Swiss National Bank extending a lifeline to embattled Credit Suisse (CS). Susquehanna upgrades chipmaker and Club stock Qualcomm (QCOM) to buy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Adobe lifts profit forecast for fiscal 2023 and beats estimates on quarterly results
▼ + stars: | 2023-03-15 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Adobe shares rose 5% in extended trading on Wednesday after software maker announced fiscal first-quarter results that topped Wall Street estimates and lifted its full-year foercast. Here's how the company did:Earnings: $3.80 per share, adjusted, vs. $3.68 per share as expected by analysts, according to Refinitiv. $3.80 per share, adjusted, vs. $3.68 per share as expected by analysts, according to Refinitiv. For the second quarter, Adobe expects earnings per share of $3.75 to $3.80 on an adjusted basis and $4.75 billion to $4.78 billion in revenue. Analysts surveyed by Refinitiv had been expecting $3.76 per share in adjusted earnings and $4.76 billion in revenue.

☆ Adobe slips on report saying DOJ plans suit to block $20 billion Figma deal
▼ + stars: | 2023-02-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Adobe has said Figma would generate over $400 million in annualized recurring revenue in 2022. Figma is a leader in interactive product design, focused on building a collaborative web platform. David Wadhwani, president of Adobe's digital media business and a key figure in the Figma deal, told analysts on a conference call in December that "the regulatory process is proceeding as expected." Adobe was busy with the Justice Department's second request process as the federal agency examined the deal, he said. Adobe still expects to close the Figma deal in 2023, the spokesperson said.

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