KAVL - Dow Tumbles Over 200 Points; Adobe Earnings Top Views | Benzinga
U.S. stocks traded mostly lower this morning, with the Dow Jones index dipping more than 200 points on Friday.
Following the market opening Friday, the Dow traded down 0.60% to 38,415.98 while the NASDAQ rose 0.01% to 17,669.62. The S&P 500 also fell, dropping, 0.27% to 5,419.25.
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Leading and Lagging Sectors
Communication services shares jumped by 0.4% on Friday.
In trading on Friday, industrials shares fell by 1.3%.
Top Headline
Adobe Inc. (NASDAQ:ADBE) posted upbeat results for its second quarter and also issued a strong forecast on Thursday.
Adobe reported second-quarter revenue of $5.31 billion, beating the consensus estimate of $5.292 billion. The company reported quarterly adjusted earnings of $4.48 per share, beating analyst estimates of $4.39 per share, according to data from Benzinga Pro.
Adobe also introduced full-year 2024 guidance. The company expects full-year revenue to be between $21.4 billion and $21.5 billion versus estimates of $19.98 billion. Adobe sees full-year adjusted earnings in the range of $18 to $18.20 per share versus estimates of $16.78 per share, according to ...