Adobe falls as annual revenue forecast triggers concerns on delayed AI returns 📊
The articles and information in this newsletter are a summary of yesterday’s trading and related news. They are presented for informational purposes only. Nothing in the newsletter should be taken as investment or trading advice.
S&P 500 6,084.19+49.28 +(0.82%)
Dow Jones 44,148.56-99.27 (-0.22%)
NASDAQ 20,034.89+347.65 +(1.77%)
Market close: December 11, 2024
Breaking News
Adobe falls as annual revenue forecast triggers concerns on delayed AI returns 📊 : Shares of Adobe fell nearly 10% in premarket trading on Thursday after the Photoshop maker's downbeat full-year revenue forecast led to concerns that returns from AI investments into its software applications might take longer than expected. Yahoo Finance reports.
Image source: Wikimedia Commons
EdgeUp
NviFuture 🚘: Nvidia steps up hiring in China to focus on AI-driven cars. Yahoo Finance reports.
SpaceEdge 🌌: SpaceX‘s valuation reportedly hit $350 billion after the company and its investors agreed to purchase $1.25 billion of insider shares. Benzinga reports.
MetaFix 📱: Meta says it has almost resolved outage on Facebook and Instagram apps. CNN Business reports.
LeagueGear 👕: Nike renews its contract with the NFL after league briefly courted other bidders. CNBC reports.
SkyLux 💎: JetBlue to bring ‘junior Mint’ first class to domestic flights in 2026. CNBC reports.
ADBERevenue 📉: Adobe forecast fiscal 2025 revenue below Wall Street estimates on Wednesday, suggesting the company's investments to weave AI into its software applications were taking longer than expected to bear fruit. Yahoo Finance reports.
Top 5 Movers in Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time) Benzinga reports.
1. $PALI: Palisade Bio
Total gain: +118.57%
2. $BURU: Nuburu
Total gain: +32.29%
3. $DBVTD: BV Technologies
Total gain: +30.69%
4. $AMPG: AmpliTech Gr
Total gain: +29.53%
5. $ABVE: Above Food Ingredients
Total gain: +22.86%
Tech Thursday
OpenAI says ChatGPT service has recovered after hours-long outage.
OpenAI said in an early Thursday X post that its popular ChatGPT assistant, Sora video generator and programming interface for software developers were working again after hours of downtime. ChatGPT has hit the mainstream. Sam Altman, OpenAI’s CEO, said on December 4 that the company’s technology was reaching 300 million active users each week. On Wednesday, Apple released new versions of its software for the iPhone, iPad and Mac that bring integrations with ChatGPT. According to an OpenAI status page, ChatGPT was down for just over four hours. An outage in June lasted for over five hours.
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Yesterday’s Biggest Movers
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The closing price of the top three market percent gainers trading near or above $3 on December 11.
(All pricing and percent gains are based on regular market trading hours from 9:30 AM to 4:00 PM Eastern Time) Benzinga reports.
1. $CADL: Candel Therapeutics
Total gain: +69.95%
The company announced CAN-2409 Achieved Primary Endpoint in Phase 3 Prostate Cancer Trial, Showing Significantly Improved Disease-Free Survival. Benzinga reports.
2. $OSTX: OS Therapies
Total gain: +48%
The stock appeared to be moving on no notable news.
3. $SFIX: Stitch Fix
Total gain: +45%
The company announced its financial results for the first quarter of fiscal year 2025, ended November 2, 2024. Benzinga reports.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
NX Quanex Building Products
Q4 2024
Market Close Estimate: 0.560
Actual: N/A
COST Costco Wholesale
Q1 2025
After Market Close Estimate: 3.790
Actual: N/A
CIEN Ciena
Q4 2024
After Market Close Estimate: 0.650
Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
8:30 am Initial jobless claims - December 7
8:30 am Producer price index - November
8:30 am Core PPI - November
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Parting Thoughts
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." ― George Soros
Sourced in: Interview in The Alchemy of Finance (1987)
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