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"In addition to NVDA, investors have been focused on a broadening of the AI trade. We expect there will likely be three broad, subsequent stages of the AI trade," Hammond wrote. Goldman foresees a second phase that focuses on companies that build and maintain the infrastructure around AI. "Based on performance and valuation, investors have already started to price subsequent phases of the AI trade. An equal-weighted basket of Phase 2 stocks is up 14% during the past 6 months, largely driven by valuation expansion.
Persons: Goldman Sachs, Ryan Hammond, Hammond, Goldman foresees, Goldman, — CNBC's Michael Bloom Organizations: Nvidia, Broadcom, Foundry, Keysight Technologies, Palo Alto Networks, Intuit, Adobe, Nvidia —, Pinterest, Tenet Healthcare
The S & P 500 and 30-stock Dow also were lower Friday, but have held up better than the Nasdaq for the week. Sector spotlight: There's a whole lot of red among S & P 500 sectors Friday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Stocks, Dow, Jensen Huang, Jim, I've, Jensen, Jim Cramer's, Brendan McDermid Organizations: CNBC, Nasdaq, Microsoft, Apple, Adobe, Energy, Valero Energy, Bank of America, Marathon Petroleum, Phillips, Coterra Energy, VanEck Semiconductor, Nvidia, Broadcom, tailwinds, Club, Jim Cramer's Charitable, Traders, New York Stock Exchange Locations: U.S, New York City
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
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNot all AI players need to be a part of the Magnificent 7, says Alex KantrowitzAlex Kantrowitz, Big Technology Founder, discusses whether Adobe should take Tesla's place in the Magnificent 7.
Persons: Alex Kantrowitz Alex Kantrowitz Organizations: Big Technology, Adobe
Citi upgrades Thor Industries to buy from neutral Citi said it see a "favorable event path" for the RV company. " Citi initiates Pure Storage as buy Citi said in its initiation of Pure Storage that the data storage company is an AI beneficiary. Citi reiterates Apple as buy Citi said it's standing by its buy rating on shares of Apple. Bank of America reiterates Amazon as buy Bank of America said it's bullish heading into Amazon's Spring Sales event next week. Citi reiterates Micron as buy Citi raised its price target on the stock to $150 per share from $95 and says it's bullish heading into earnings next week. "
Persons: Piper Sandler, Piper, Morgan Stanley, RSG, Cummins, Baird, Nvidia, JPMorgan, Tesla, Telsey, Todd Vasos, it's, Stellantis, Five9, PBF, DINO, Truist, Eli Lilly, LLYs, Dave Ricks, Patrik Jonsson Organizations: EV, Bank of America, Adobe, Citi, Thor Industries, Morgan Stanley downgrades Republic Services, UBS, Cummins, CMI, Microsoft, Nvidia, JPMorgan, Guggenheim, Apple, Worldwide, " Bank of America, Micron, Catalyst Watch, RBC, UFC, WWE, Inc, Valero Energy, Sinclair, of America, Entertainment, Golden Entertainment, Diabetes, Obesity Locations: Snowflake, F4Q24, China, Nevada
Comparably published a list of top companies where employees feel there's a good outlook. Based on anonymous responses, Topgolf ranked at the top of the large company list. AdvertisementAmid the Big Stay in the workforce as the number of quits have dropped and a recent rise in the unemployment rate to a two-year high, a recent ranking suggests the top companies with the best outlook. Workplace-review site Comparably published this week which companies have the best outlook based on responses from workers who answered questions anonymously, such as about their confidence in the company's future success and their excitement about going to work. Advertisement"Comparably's annual Best Outlook list recognizes companies that have the most optimistic business prospects for the year ahead," Chad Herring, chief human resources officer of Comparably's parent company ZoomInfo, said in a statement.
Persons: Topgolf, , Chad Herring Organizations: Adobe, Service, Business, Companies
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
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
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. McDonald's : The fast-food chain had to temporarily suspend operations at stores in some countries, including Japan, after suffering a technology outage. "This will have no impact whatsoever, except for to buy the stock because McDonald's, in the end, is king," Jim Cramer said. Snowflake : Shares added 0.4% after Guggenheim Securities upgraded the cloud data company to a hold-equivalent rating from sell. In late February, Snowflake stock tumbled 18% in a single session after veteran CEO Frank Slootman announced his retirement alongside a weaker-than-expected first-quarter outlook.
Persons: Jim Cramer's, Jim Cramer, Burger, Cramer, he's, Sanjay Mehrotra, Frank Slootman Organizations: CNBC, Club, Burger King, Restaurant Brands, Micron Technology, Citigroup, Micron, Nvidia, Broadcom, Guggenheim Securities Locations: Japan, Snowflake
Chart of the Day: Adobe
  + stars: | 2024-03-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChart of the Day: AdobeThe Investment Committee discusses Adobe as the stock sinks despite an earnings beat.
Organizations: Investment, Adobe
The controversial photo of Kate Middleton was processed on Photoshop twice, per ABC News. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe controversial photo of Kate Middleton and her children was processed on Adobe Photoshop twice, ABC News reported on Thursday. Kensington Palace didn't immediately respond to a request for comment from Business Insider sent outside regular business hours.
Persons: Kate Middleton, Kate, , rince, ike, lear, ince Organizations: ABC, Service, Adobe Photoshop, Kensington, ABC News
Three-Stock Lunch: McDonald's, Adobe and Ulta
  + stars: | 2024-03-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: McDonald's, Adobe and UltaBoris Schlossberg, BK Asset Management managing director of FX strategy, joins 'Power Lunch' to discuss his investing take on three stocks: McDonald's, Adobe and Ulta.
Persons: Boris Schlossberg Organizations: Adobe, BK Asset Management
Exactly a week after Prince Harry and Meghan Markle's interview with Oprah Winfrey catapulted the royal family into crisis in March 2021, Prince William and Kate Middleton released a photo on Mother's Day in the UK. Fast-forward three years, and the royal family has found themselves surrounded by controversy yet again. The ensuing photos were a PR dream for the royal family: Kate with a goat! Prince William, Kate Middleton, Meghan Markle, and Prince Harry visiting Sandringham in 2018. EBASTIEN BOZON/AFP via Getty ImagesRumors swelled around the royal family in the weeks leading up to the Mother's Day photo fiasco.
Persons: Prince Harry, Meghan Markle's, Oprah Winfrey, Prince William, Kate Middleton, Diana, William, Kristen Meinzer, Prince, Princess of Wales, , Kate, ANDY COMMINS, Harry, Winfrey, University of St Andrews —, Meghan, Harry's, Eric Shiffer, didn't, Oprah, Duke, Duchess, Meghan Markle, Samir Hussein, Clare McHugh, they'll, It's, Middleton, Queen Elizabeth II's, EBASTIEN BOZON, she'd, King Constantine's, there's, Meinzer, Charles, King Charles, King Charles III, JONATHAN BRADY, Buckingham, Camilla, Carole Middleton, William —, Phil Chetwynd, Marlene Koenig, Princess, Josh Shinner, There's, Schiffer, rota —, ungentlemanly, rota, Kate's, it's, Princess Diana's Organizations: Business, Getty, Westminster Abbey, University of St, Sandringham, Kensington, Buckingham Palace, Kensington Palace, TMZ, Daily Mail, Associated Press, Reuters, Agence France, Presse, ABC News, Adobe, BBC, Royal Locations: Kensington, Westminster, Sussex, California, AFP, Gaza, Buckingham Palace, Kensington Palace, Wales
In today's big story, we're looking at why Zyn nicotine pouches are becoming the go-to alternative for workers looking for a boost . Zyn, a brand of nicotine pouch, has quickly gained a loyal following among some workers looking for a boost during the day. There was a 62% year-over-year bump in the amount of flavored nicotine pouches shipped in the US in 2023. Containers of "Zyn" nicotine pouches. He said the nicotine pouches were too accessible and gave him migraines.
Persons: , Michael M, Jenny Chang, Rodriguez, Sarah Jackson, Tim Paradis, Sarah, Tim, it's, Zyn, Tim he'll, vaping, Mark Spitznagel, Spitznagel, Samantha Lee, Stanley, Max, Bob Jordan, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Getty, Wall Street, Republican, New York Stock Exchange, UBS, Electronic Arts, Verizon, Ford, Reading, Airlines, Boeing Locations: Copenhagen, New, Wall St , New York, USA, Oxford, New York, London
Watch CNBC's full interview with Adobe CEO Shantanu Narayen
  + stars: | 2024-03-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Adobe CEO Shantanu NarayenAdobe CEO Shantanu Narayen joins 'Closing Bell Overtime' to talk Adobe Q1 results, embracing generative AI, stock buybacks and more.
Persons: Shantanu Narayen Organizations: Adobe
Stock futures are near flat Thursday night as investors analyzed the fresh batch of corporate earnings and attempted to look beyond the latest inflation reading. S&P 500 futures and Nasdaq 100 futures were also both little changed. The S&P 500 and Nasdaq each fell around 0.3%. Bond yields climbed in the session — with the benchmark 10-year Treasury reaching 4.29% — as investors wondered if the recent economic data was too strong for the Federal Reserve to loosen monetary policy. Investors will watch Friday morning for economic data on topics such as consumer sentiment, import prices and industrial production.
Persons: Dow, Mark Luschini, Janney Montgomery Scott, Luschini Organizations: Dow Jones Industrial, Nasdaq, Adobe, Treasury, Federal Reserve, Dow
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAdobe CEO Shantanu Narayen: Firefly adoption in Photoshop and Illustrator 'pretty good'Adobe CEO Shantanu Narayen joins 'Closing Bell Overtime' to talk Adobe Q1 results, embracing generative AI, stock buybacks and more.
Persons: Shantanu Narayen
Adobe shares slip 10% on soft sales forecast
  + stars: | 2024-03-14 | by ( Jordan Novet | ) www.cnbc.com   time to read: +2 min
Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor of the New York Stock Exchange on Feb. 20, 2024. During the quarter, Adobe abandoned its $20 billion acquisition of design software startup Figma after U.K. regulators found competitive concerns. Adobe will work with OpenAI around Sora, David Wadhwani, president of Adobe's digital media business, said on the earnings call. Adobe sees fiscal second-quarter earnings of $4.35 to $4.40 per share on an adjusted basis, with $5.25 billion to $5.30 billion in revenue. Leaving out the after-hours movement, Adobe shares have fallen 4% so far this year, while the S&P 500 index has gained 8% over the same time period.
Persons: Shantanu Narayen, OpenAI, Sora, David Wadhwani, LSEG, Wadhwani Organizations: CNBC, New York Stock Exchange, Adobe, LSEG, Firefly Services Locations: Sora
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
The AI-generated deepfake video that cloned his face and voice racked up 4.7 million views on X alone. In Pakistan, a deepfake of former prime minister Imran Khan emerged around the national elections, announcing his party was boycotting them. Deepfakes of politicians are becoming increasingly common, especially with 2024 set up to be the biggest global election year in history. With tech companies adopting different measures across their platforms, a multi-prong approach is needed, she said. watch now"We should not just be relying on the good intentions of these companies," Chesterman added.
Persons: Suharto, Imran Khan, Joe Biden's, deepfakes, Simon Chesterman, Crowdstrike, — that's, Carol, Chesterman, Taylor Swift, Adam Meyers, X, OpenAI, , I’m, we’re, Sam Altman Organizations: Istock, , New Hampshire voters, Singapore, Institute of Policy Studies, Microsoft, Meta, Google, IBM, Tech, Adobe, Intel Locations: deepfakes, Pakistan, U.S, , New Hampshire, Asia, China, Russia, Iran, Singapore, CrowdStrike, they're
Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said the stock is a top idea after coming out of the company's recent TMT conference. " Morgan Stanley downgrades Hyatt to equal weight from overweight Morgan Stanley said in its downgrade of the stock that risk/reward is more balanced. Morgan Stanley reiterates Eli Lilly as overweight Morgan Stanley said the next catalyst for Eli Lilly is the results from the company's sleep apnea trial. Morgan Stanley initiates Phinia as overweight Morgan Stanley initiated the auto components and supplier company and says it's a "key beneficiary of the EV reset." Morgan Stanley reiterates Meta as overweight Morgan Stanley said it's standing by shares of Meta.
Persons: Morgan Stanley, Oppenheimer, underperform Jefferies, Jefferies, Tesla, Evercore, Tesla's, Tesla's Austin Gigafactory, Wolfe, XEL, Morgan Stanley downgrades Hyatt, JPMorgan, Stifel, Eli Lilly, Truist, Guggenheim, it's, PDD, Locker, Meta, Goldman Sachs, Goldman Organizations: Netflix, Jefferies, Wyndham, Underperform, Wyndham Hotels, Adobe, & Highland, JPMorgan, Energy, Hyatt, Petrobras, Procter, Gamble, Guggenheim, Nike, ICE, UBS, Apple, Meta, & & / Locations: Tesla's, Texas, bullish, China, Kazakhstan, America
Although celebrities have altered photos with editing tools for years, images taken of the royal family have a historical importance and are expected to be authentic. The use of image editing to present a false narrative goes back almost to the dawn of photography itself. Image tools with generative AI will allow so much more than photo manipulation because people will be able to create images from completely new scenarios. As AI images hit the mainstream, it will open up more discussions around transparency and the need to regulate usage so news outlets and the public can better spot AI-generated and augmented images, he said. Although AI image watermarks already being implemented on certain platforms, mandating that will be a challenge, Hayden said.
Persons: Catherine , Princess of Wales, Wales, Kate, , Princess of, Prince Louis, Prince George, Princess Charlotte, Princess, Google’s, Ramesh Raskar, who’s, Raskar, Reece Hayden, Hayden Organizations: CNN, Kensington Palace, Agence France, Presse, Reuters, Associated Press, Adobe, Google, MIT Media, Apple, Facebook, ABI Research Locations: Princess of Wales, Kensington
The analysts say in 2024 look for consumer packaged goods companies with volume growth, which has been our view, too. The analysts say "stay the course" and have trust that leadership will innovate. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Morgan Stanley, Eli Lilly, Oppenheimer, Jefferies, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Procter & Gamble, Nike, Guggenheim, Netflix, UBS, Apple, Troubled, Adobe, Jim Cramer's Charitable, CNBC Locations: Truist, U.S
Overall, consumer prices rose 0.3% in January 2024 from December 2023, according to the latest Consumer Price Index. The Labor Department releases its Consumer Price Index for February on Tuesday. The drivers of services inflation have been threefold: Vehicle insurance, hospital insurance, and financial services. The US Labor Department releases its Consumer Price Index for February. The US Commerce Department releases February figures on retail sales in addition to January data on business inventories.
Persons: don’t abate, Price, it’s, Bell, Saira Malik, They’ve, I’ve, Biden, Joe Biden, I’m, , Biden’s, Read, Guess Organizations: Washington CNN, Federal Reserve, Labor Department, Oracle, Asana, Vail Resorts, US Labor Department, US Treasury Department, National Statistics, Adobe, Dollar, Sporting Goods, Getty, US Commerce Department, The New York Fed, Manufacturing Index, University of Michigan Locations: Nuveen, Thursday’s State, America
Within the Club, we heard this week from Foot Locker on Wednesday, then from Costco and Broadcom on Thursday. The big economic data drop of the week arrived Friday with February's nonfarm payrolls report . The center of attention is Tuesday's February consumer price index report . On Thursday, the February produce price index is due out. ET: Producer Price Index 8:30 a.m.
Persons: FactSet, Locker, Foot Locker, February's nonfarm, Jerome Powell, he's, we'll, MANU, LEN, Jim Cramer's, Jim Cramer, Jim, Mostafa Bassim Organizations: Nasdaq, Dow Jones Industrial, Costco, Broadcom, Commerce, Federal, PPI, Ballard Power Systems, Fortrea Holdings, Casey's, Vail Resorts, MTN, Daniels, Midland, Kohl's Corporation, Kanzhun, Game Technology, Manchester United, Blade Air Mobility, Clover Health, Beauty Health, Energy Vault Holdings, PHX Minerals, Guild Holdings, Finance, Heron Therapeutics, ZIM Integrated Shipping Services, Arcos Dorados Holdings, ARCO, Petco, Wellness Company, Farms, Sonoma, WSM, ESS Tech, DICK'S Sporting, Inc, Futu Holdings, Bear, Autolus Therapeutics, III Apparel, Solo Brands, Weibo Corporation, Embraer, CNBC, Washington DC, Anadolu, Getty Locations: U.S, Asana, ASAN, Williams, Washington, United States
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