News

Latest News

Stocks in Play

Dividend Stocks

Breakout Stocks

Tech Insider

Forex Daily Briefing

US Markets

Stocks To Watch

The Week Ahead

SECTOR NEWS

Commodites

Commodity News

Metals & Mining News

Crude Oil News

Crypto News

M & A News

Newswires

OTC Company News

TSX Company News

Earnings Announcements

Dividend Announcements

Friday Stock Sale: Adobe, Intel, and Micron

Adobe Systems (ADBE) will open down by nearly 10% after posting third-quarter results.
Revenue rose by 10.6% Y/Y to $5.41 billion. Annual recurring revenue was strong in digital media and digital experience. The market did not like Adobe’s Q4 outlook.

In Q4, Adobe expects revenue of $5.5 billion to $5.55 billion, below the consensus estimate of $5.6 billion. Although the company will pay Figma a $1 billion termination fee, the acquisition cancellation is a blessing. The software firm does not need the over-priced buyout to hurt its balance sheet. For now, it will need to manage slowing growth. Markets may pressure the stock’s expensive 30 times price-to-earnings ratio.

Intel (INTC) closed at below $20. Analysts continue to praise Nvidia (NVDA). They are also bullish on Advanced Micro Devices (AMD). For example, Citigroup (C) retained a ‘Buy’ rating on AMD stock. It cited a 15% month-on-month increase in notebook shipments. Still, Intel is refreshing its notebook and desktop chips. Corporations and customers may still prefer buying an Intel-powered computer over AMD.

Memory supplier Micron Technology (MU) dropped by 3.79% on Thursday. Two analysts downgraded the stock, well after the stock fell from nearly $150 in June. Raymond James cited lower DRAM and NAND volume growth. BNP Paribas said Micron’s lackluster performance would continue.

Citi Research rated MU stock as a top pick.