Adobe falls as annual revenue forecast triggers concerns on delayed AI returns 📊

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

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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