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Adobe shares plunge 13% on disappointing revenue guidance
  + stars: | 2024-12-12 | by ( Cj Haddad | ) www.cnbc.com   time to read: +1 min
Adobe shares fell 13% on Thursday and headed for their steepest drop since March after the software vendor issued disappointing revenue guidance. Sales in the fiscal first quarter will be between $5.63 billion and $5.68 billion, Adobe said in its fourth-quarter earnings report late Wednesday. Analysts at TD Cowen downgraded the stock to hold from buy, while Wells Fargo kept its buy rating following what it called a "frustrating '24" for the company. Revenue in the fourth quarter increased 11% to $5.61 billion, beating the average estimate of $5.54 billion. Analysts at Deutsche Bank maintained their buy rating but lowered their target price from $650 to $600.
Persons: Shantanu Narayen, Cowen, Wells Fargo Organizations: CNBC, New York Stock Exchange, Adobe, Nasdaq, Revenue, Deutsche Bank Locations: LSEG
I have found an example of one such stock and how to play it with options. Second, I look for net income or adjusted earnings per share growth to exceed that of the S & P 500 comfortably. The S & P has delivered remarkable long-term earnings growth, doubling in the past 10 years, a compound annual growth rate (CAGR) of nearly 8%. Most companies don't have the inherent benefits of diversification that an index has or the expected lifespan, so a decent track record of greater than 10% annual earnings growth is probably a suitable starting point. Adobe (ADBE) — known for brands such as Acrobat and Photoshop and their creative cloud offering — is one of the largest diversified software companies.
Persons: Peter Lynch, Sell Organizations: YTD Traders, CNBC, NBC UNIVERSAL
I combed through discounts to find the best early Walmart Black Friday deals actually worth shopping. SKIP AHEAD Best Walmart early Black Friday deals | More Walmart early Black Friday sales | Why trust NBC Select? Best Walmart Early Black Friday dealsI found, vetted and wrote about every deal I recommend below. Best Walmart early Black Friday salesHere are the best Walmart early Black Friday sales to know about. To find the best early Walmart Black Friday deals, I searched through discounts to roundup products from previous coverage, NBC Select staff favorites, and highly-rated products from brands that we know and trust.
Persons: I’ve, Harry Rabinowitz —, Lindsay Schneider, Apple Airtag, Harry Rabinowitz, Carote, TikTok Organizations: Walmart, Black, 6AM, Walmart Plus, NBC, Walmart Apple, Fujifilm, Samsung, Amazon Alexa, Root, Apple ., Apple, Microsoft, Google, Walmart NBC, Facebook, Twitter
Learn moreDigital artists, photographers, and animators are likely more than familiar with Adobe Creative Cloud and the suite's powerful lineup. Now through November 29, Adobe is offering its Creative Cloud All Apps subscription with a 50% discount. It's rare to find Adobe Creative Cloud on sale, especially for such a low price. The best Black Friday Adobe Creative Cloud dealsBlack Friday Adobe FAQsWhat does Adobe Creative Cloud include? Even if you only use two of these services, the Creative Cloud All Apps subscription is worth choosing over individual plans.
Persons: it's, you've, I've Organizations: Business, Adobe Creative, Adobe, Shoppers, Photoshop Express
Adobe shares fall 9% on weak fourth-quarter guidance
  + stars: | 2024-09-13 | by ( Ashley Capoot | In | ) www.cnbc.com   time to read: +2 min
Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange in New York City, Feb. 20, 2024. Shares of Adobe fell more than 9% on Friday, a day after the software company released third-quarter results that offered worse-than-expected guidance for the fourth quarter. Adobe reported $5.41 billion in revenue for the quarter, up 11% year over year and above the $5.37 billion expected by analysts according to LSEG. Analysts at Bank of America said Adobe reported results and outlook that were somewhat mixed but healthy overall. "No change to our positive view on Adobe," they wrote in a Friday note.
Persons: Shantanu Narayen, LSEG, Goldman Sachs, Adobe's, — CNBC's Michael Bloom, Kif Leswing Organizations: CNBC, New York Stock Exchange, Adobe, Bank of America, Microsoft, UBS Locations: New York City
Adobe stock slips on soft fourth-quarter revenue guidance
  + stars: | 2024-09-12 | by ( Kif Leswing | ) www.cnbc.com   time to read: +1 min
Adobe reported third-quarter results on Thursday that beat Wall Street expectations for sales and earnings, but the stock slid 10% in extended trading on fourth-quarter guidance that came up short. Here's how Adobe did for the quarter ending in August versus LSEG consensus estimates:Revenue : $5.41 billion, vs. $5.37 billion expected: $5.41 billion, vs. $5.37 billion expected Earnings per share: $4.65, adjusted, vs. $4.53 estimatedAdobe said it expected earnings per share between $4.63 and $4.68 on revenue in the fourth quarter of between $5.5 billion and $5.55 billion. Analysts polled by LSEG were expecting a forecast of $4.67 of earnings on $5.61 billion of sales. Adobe said it recorded $1.68 billion of net income during the quarter, or $3.76 per diluted share. In total, Adobe recorded $5.18 billion in subscription revenue during the quarter, up 11% year-over-year.
Persons: LSEG Organizations: Adobe, Digital Media
How to trade Adobe's upcoming earnings using options
  + stars: | 2024-09-09 | by ( Michael Khouw | ) www.cnbc.com   time to read: +5 min
I'll break down various option trade scenarios into the earnings, focusing on one that will benefit from a big move in any direction. Adobe's Creative Cloud subscription model generates recurring revenue and maintains a solid customer base, from freelancers to large enterprises. Adobe's Document Cloud, featuring Acrobat and PDF solutions, is critical in digital document management and e-signatures. Of course, any bears out there could also use a calendar to bet on a downside move, using a $500 Sep/Jan put calendar. Combining the call and put calendar is a trade I usually refer to as a strangle swap.
Persons: Adobe Sensei, Jan, I've Organizations: Adobe, Labor, CNBC, NBC UNIVERSAL
The Adobe Creative Cloud price varies depending on whether you pay monthly or annually and whether you make a time commitment. With that in mind, we've broken it all down below, including the Adobe Creative Cloud price, individual app costs, and Adobe discounts for students and teachers. Adobe Creative Cloud (1-year subscription) $659.88 $719.88 Save 8% Adobe's Creative Cloud gives you access to every powerful Adobe application, including Photoshop, Illustrator, Premiere, and more. Creative Cloud (from $60/month): Everything except for Substance 3D apps(from $60/month): Everything except for Substance 3D apps Photography (from $20/month): Lightroom, Lightroom Classic, Photoshop, Photoshop Express, Adobe Firefly, and 1TB of cloud storage(from $20/month): Lightroom, Lightroom Classic, Photoshop, Photoshop Express, Adobe Firefly, and 1TB of cloud storage Adobe Substance 3D collection (from $50/month): Adobe Substance 3D Modeler, Sampler, Designer, Painter, Stager, and Assets(from $50/month): Adobe Substance 3D Modeler, Sampler, Designer, Painter, Stager, and Assets Adobe Substance 3D texturing (from $20/month): Adobe Substance 3D Sampler, Designer, Painter, and AssetsWho can get Adobe discounts? Companies and educational institutions can pay one discounted price for all their users or devices to receive Creative Cloud licensing.
Persons: there's, Painter Organizations: Business, Adobe, Photoshop, Creative
US regulators say in a lawsuit against Adobe that an exec likened early termination fees to heroin. The DOJ and FTC sued the software company last month, alleging it violated consumer protection laws. Adobe has disputed the claims and said the government took old employee comments out of context. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAn Adobe executive allegedly likened early termination fees to heroin for the software company, according to newly unredacted documents in the US government's lawsuit against the Photoshop and Creative Cloud maker.
Persons: Organizations: Adobe, DOJ, FTC, Service, Justice Department, Federal Trade Commission, Business
Keep reading to see how the Amex Platinum Card and the Amex Business Platinum Card differ, and to decide if either is right for you. Finally, the Amex Platinum Card and the Amex Business Platinum Card come with a Priority Pass membership**. 35% points rebate on the Amex Business PlatinumThis is an incredibly valuable perk that's only available with the Amex Business Platinum Card. Amex Platinum vs. Amex Business Platinum frequently asked questionsWhat are the main differences between the Amex Platinum and Business Platinum cards? The Amex Platinum earns bonus points on travel, while the Business Platinum also offers elevated rewards on certain business expenses.
Persons: Amex, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, you've, You'll, — you'll, you'll Organizations: American Express, Express, Hilton, Marriott, Saks, Entertainment, Disney, ESPN, The New York Times, Street, American, Walmart, TSA, Global, Saks Fifth, Business, Adobe, Dell, Card, Amex Travel, Delta Sky Club, Delta, Lufthansa, Austrian Airlines, Sky, Resorts, Fine, United, Amex, , Hertz, Fine Hotels, Hulu, New York, Paramount, Equinox Locations: Hulu, AmexTravel.com, Europe, Asia, Hong Kong,
How to gain access to Delta Sky ClubsDelta Sky Club access is normally restricted to passengers traveling in business- or first-class seats on Delta and SkyTeam partners; certain travelers on qualifying flights who hold Delta elite status; or travelers who have purchased a Sky Club membership. Sky Club membership optionsThere's quantifiable monetary value to Delta Sky Club access — Sky Club memberships begin at $695 per year, but can be worth significantly more for frequent Delta travelers. Credit cards with Sky Club accessWith the right credit card, you can access Delta Sky Clubs for free on many flights. If you have the Delta SkyMiles® Reserve American Express Card or Delta SkyMiles® Reserve Business American Express Card, you can access Delta Sky Clubs if you're traveling on a Delta flight that same day. Conclusion: Enhancing your travel with Sky Club accessDelta Sky Club airport lounges can make your travels more comfortable and save you money on expensive airport food and drinks.
Persons: cardholders, we'll, MQD Headstart, stow, You'll, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, , you've, Business Insider's Organizations: Delta Sky Club, Sky Club, Air Lines, American Airlines and United Airlines, Delta Air Lines, Sky, Delta Sky Clubs, Delta Sky Clubs Delta Sky, Delta, Delta Sky, Delta SkyMiles ®, American Express, SkyMiles, Express, Lufthansa, Austrian Airlines, American, ®, SkyMiles ®, U.S, Delta SkyMiles, Card, Express Card, Delta Reserve, American Express Card, Hilton, Marriott, Saks, Entertainment, Disney, ESPN, The New York Times, Street, Walmart, TSA, Global, Saks Fifth, Fine Hotels, Resorts, Hulu, Amex, Dell, Adobe, Adobe Creative, Club, Sky Clubs, American Express Delta Sky Club, Business Locations: U.S, Delta, Caribbean, American, delta.com, Hulu, AmexTravel.com, The, Sky
Introduction to yearly resetting credit card benefitsTravel rewards credit cards come with all kinds of benefits. The Southwest Rapid Rewards® Premier Credit Card ,Chase Southwest Rapid Rewards® Priority Credit Card, and Southwest® Rapid Rewards® Performance Business Credit Card all earn Tier Qualification Points (TQPs) toward elite status based on spending. Credit card referral bonusesSome credit card issuers reward you with bonuses for referring friends to apply for your specific card or another one from the same bank. Several credit card rewards apps and websites help cardholders track and utilize credit card benefits on time, with varying degrees of success. Credit card annual benefits frequently asked questionsWhat are some common credit card benefits that reset each year?
Persons: Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, cardholders, you've, There's, Chase, hasn't, Overspending, it's Organizations: Business, Hilton, Citi ®, Mastercard, JetBlue, Rapid Rewards, Marriott, Express, American Express, Saks, Entertainment, Disney, ESPN, The New York Times, Street, American, Walmart, TSA, Global, Saks Fifth, Resorts, Hilton Honors, Chase, Dell, Adobe, DC, U.S, Milk Bar, Electronics, Amex Travel, Citi, American Airlines, Rewards, Rapid, Card, Hyatt Credit, Hilton Honors American, Silver Locations: Hulu, U.S
GameStop — The meme stock dipped 1.1% after Keith Gill, known as "Roaring Kitty," seemingly increased his ownership in GameStop. He appears to be holding 9.001 million GameStop shares and over $6 million in cash, according to a screenshot he posted to Reddit. JPMorgan upgraded shares to overweight from neutral on Friday, saying Adobe is poised for "smoother sailing ahead" after its strong quarterly print. Hasbro — Bank of America upgraded the toymaker to buy from neutral, sending shares 1.7% higher. On the other hand, the company saw $727 million in revenue, topping the $725 million estimate from analysts.
Persons: Keith Gill, Adobe, RH, LSEG, ZScaler, Alex Harring, Michelle Fox Theobald Organizations: GameStop, Adobe, JPMorgan, Hasbro — Bank of America, Wall, Boeing, New York Times, Federal Aviation Administration, Zero Trust Network Security
Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 20, 2024. Adobe shares surged 15% on Friday, the biggest gain since March 2020, after the software maker reported earnings and revenue that beat analysts' estimates. Salesforce shares suffered their worst plunge since 2004 late last month after the cloud software vendor posted weaker-than-expected revenue and issued disappointing guidance. Even after Friday's rally, Adobe shares remain down 12% for the year. WATCH: CNBC's interview with Adobe CEO Shantanu Narayen
Persons: Shantanu Narayen, Narayen, Salesforce, CrowdStrike, Piper Sandler Organizations: CNBC, New York Stock Exchange, Adobe, Creative, Digital Media, Oracle, Google Locations: New York City, U.S
The company had to quell those concerns with a blog post denying this. But some Adobe employees are still not happy with the response, and they are calling for improved communication with customers. According to screenshots of an internal Slack channel, obtained by Business Insider, Adobe employees complained about the company's poor response to the controversy and demanded a better long-term communication plan. Advertisement"We've never trained generative AI on customer content, taken ownership of a customer's work, or allowed access to customer content beyond legal requirements. Some employees applauded Adobe's effort to use language that is easier to understand in the blog post.
Persons: , Adobe, Slack, We've, Scott Belsky, Belsky Organizations: Service, Business, Adobe, IBM, Software, YouTube
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 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 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
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
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
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
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
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
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