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Check out the companies making headlines in midday trading: Adobe — The software stock surged 14% on stronger-than-expected quarterly results. Adobe posted adjusted earnings of $4.48 per share on $5.31 billion in revenue and boosted its full-year guidance. JPMorgan also upgraded shares to overweight from neutral. Hasbro — The toymaker's shares jumped 4.8% on the back of an upgrade from Bank of America to buy from neutral. Dell Technologies — The PC maker fell more than 1% after CEO Michael Dell disclosed the sale of 5.7 million shares.
Persons: RH, LSEG, Zscaler, Keith Gill, Stellantis, Michael Dell, , Alex Harring, Michelle Fox, Pia Singh Organizations: Adobe, JPMorgan, Wall, Hasbro, Bank of America, Zero Trust Network Security, Boeing — Boeing, Federal Aviation Administration, Airbus, New York Times, GameStop, Dell Technologies Locations: Bank, U.S
The company said Tuesday its upcoming quarterly revenue will range from $700 million to $750 million, compared to the expected $765.2 million from analysts surveyed by StreetAccount. The company reported an adjusted loss of $1.27 per share and $17.92 billion in revenue. Activision Blizzard — Activision Blizzard shares dropped about 10.4% in the premarket after a UK regulator blocked Microsoft's purchase of the video game publisher. ServiceNow will be announcing its quarterly earnings Wednesday after the bell. The gain came after fellow tech-related giant Microsoft reported quarterly earnings that exceeded expectations, boosting sentiment for Amazon.
Wall Street analysts lauded the company's artificial intelligence leadership following its developer conference Tuesday. First Republic Bank — Shares of the regional bank were down nearly 16% on Wednesday. Its results can't be compared with Wall Street estimates because too few analysts cover the company. Petco Health and Wellness — Shares fell 17.5% after the company reported earnings. The Wall Street firm believes the self-driving car software stock is too expensive and could fall 35% from Tuesday's close.
McDonald's — The fast-food giant's shares got a 2.8% lift after the company beat earnings expectations for its most recent quarter. Align Technology — The Invisalign maker saw its shares tumble 18% after it posted disappointing earnings for the most recent quarter. Credit Suisse — Shares of the Swiss bank plummeted 19.5% after Credit Suisse posted a greater-than-expected loss for the third quarter. ServiceNow — The stock jumped 13% after ServiceNow surpassed earnings expectations in its most recent quarter. Comcast — The media giant's stock rose 4.8% after topping analysts' earnings expectations for the third quarter.
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