MAXR - Adobe Rises but This Stock Is Friday's Big Winner
Investors are as nervous as ever, but they've shifted their focus away from soaring interest rates toward their potential impact on the economy. Even as bond yields have reversed course and fallen sharply as market participants begin to anticipate a potential recession, stock indexes have moved lower. Futures contracts on major market benchmarks were down as much as 1% early Friday morning.
There are some stocks, however, that managed to post gains even in the gloomy market environment. Adobe (NASDAQ: ADBE) released its financial results for the most recent quarter late Thursday, and shareholders were generally pleased with what they saw from the creative technology specialist. However, those gains paled in comparison to what investors in Maxar Technologies (NYSE: MAXR) enjoyed early Friday. Read on to learn more about both of these companies and why they're doing well.
Shares of Adobe were higher by 5% in premarket trading Friday morning. The software company posted record sales for the fiscal fourth quarter that ended Dec. 2 and saw strong results for its digital software tools.
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Adobe Rises, but This Stock Is Friday's Big Winner