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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some stocks on the move today. I'm Jim Stanevak along with Carol Master. We're joined by Bloomberg News cross asset reporter Isabelle Lee. Let's talk about Adobe.
After the close, tickers adve the stock is down by more than six percent, So lots of people moves here at the c suite level. So CFO Dan Byrne would be departing the company at June fifteen, and CEO Shantanu naday In announced you would also resign earlier this year. I'm mid deep skepticism, so that's also causing some and maybe angst, you know, I mean, he's been with a company CEO for eighteen years. He will remain in a position until a successor has been appointed in the sixty
two year old Wilmraine as board chairman. So that's a lot of moves there. And we have an analyst at Emarketers saying that, of course, it adds question about strategic continuity because you have two c sweet levels, you know, I mean leaving the company. So the stock has dropped around thirty seven percent this year, and of course it's earnings.
The company said revenue will be six point sixty seven billion to six point seventy two billion, and that's higher than the six point fifty two billion that's estimated, So at least there's some good news there. But stock is really down lowest since twenty nineteen. WHOA, why what are you seeing? No lois that is crazy's been slammed and seven years ago? Do you remember pre COVID times I do?
It wasn't doesn't feel like that long ago. Actually for me, I'm going to share the same anecdote that I shared on air earlier with Romaine and Katie and Carol when we were doing the simulcasts. But the tools that are available to creators right now from just an AI perspective, the stuff you can prompt and do, it's like you can do stuff that you would have had to learn how to do with traditional Adobe like products you would have taken so long. Like you can do video editing by using prompts.
It's amazing.
It's amazing picture generation. I've messed around with chatchipt to make pictures. I've done like the fine tuning stuff. But I will say we to be fair. We've had the folks from Adobe come on, and I've talked to creatives who use this, the Firefly product that Adobe has with with for AI generation and the what do they call it? Copyright safe stuff. It's pretty incredible stuff.
So maybe we can all still try her hand at the influencers fin fluencers.
Oh there it is good luck luck.
I would love I would have loved to d way here. I just want to be this job, which is a great job.
You are an influence.
I love.
She is a finfluencer.
I only influenced Tim and Carrol. So let's go to the next talk.
You know what you know what I want? I want that I Tim has heard this a million times that I was just all in on semiconductors this year because they have just been on a tear.
It's a Hindsight Capital with Cheryler Capital.
Welcome to another edition of Hindsight December thirty one.
And that's authors. I stole them from John Hodds.
Yes, let's talk Intel though.
Intel ticker I NTC. It's actually it had a good day up by almost ten percent. We have Bank of America upgrading the chip maker to.
A buy rating.
Excited that increased certainty about the company's ability to succeed in the AI era is what really caused them to boost the stock. So the analyst is Vivic Area, and it was interesting because he upgraded it too notchious. It wasn't an equivalent of sale, and now it's bam outperformed, so that's good. He said he has just higher confidence in general. So the price target now was one hundred and thirty five dollars from ninety six dollars, So a while, that's pretty half.
Sorry, I know, we get a little we get a little snarky about this, like when a stock's been on a tear and then finally an animalost comes in and been like, oh yeah, sorry, but.
Capital just but maybe he has mean yeah, you're right, you're right. Maybe he's just waiting to see confidence.
It's been an interesting move real quickly, let's do oracle.
Oracle ticker or CL. It's down by more than eight percent. This company has declined by six more than six months, I think, no, the most in six months after they reported quarterly capital expenses that were higher than estimate. So this metric is largely used by data center spending, and that's why a lot of investors were a little spooked
by that. And as we know, Oracle is a database software and as with many companies, it has refashioned itself or trying to refashion itself to become an AI trade.
The Stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.