The bears that bet against Adobe Systems (ADBE) will need to wait longer for its business to worsen. ADBE stock should open around 3% higher this morning. It increased its full-year outlook, citing customers adapting to its AI tools.
Adobe posted an adjusted EPS of $5.31. Revenue increased by 11% Y/Y to $5.99 billion. Just as Oracle (ORCL) posted an RPO (remaining performance obligation) rise, so too did Adobe. RPO increased by 13% to $20.44 billion.
Rumors that Skydance (PSKY) would buy Warner Bros Discovery (WBD) sent shares up by 28.95% to $16.17 on Thursday. Shares rose again to over $17 in after-hours trading. WBD stock has a $31.05 billion market capitalization. PSKY stock is half that, at $16.56 billion.
Paramount+ has the management expertise to run WBD’s HBO unit properly. In doing so, the merged firm could compete effectively against Netflix (NFLX).
Among the stocks falling on Thursday, Netflix lost 3.5%. Boeing dropped by 3.3% on a warning that its 777X faces a certification delay. BA stock is at a one-month low.
Oracle (ORCL) shares gave back 6.23% after that jaw-dropping rally on Wednesday. ORCL stock peaked at over $345 that day but closed at $307.86 yesterday.
Synopsys (SNPS) recovered some of Wednesday’s selling by adding 13%, closing at $438.10.
