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Post-Bell | Nasdaq Manages 5th Straight Record High Close; Adobe Rose 14.5% on Earnings

The Nasdaq eked out a fifth straight record closing high on Friday following gains in Adobe and other technology-related shares, while the S&P 500 and Dow ended slightly lower.Market SnapshotThe Dow J

Post-Bell | Nasdaq Manages 5th Straight Record High Close; Adobe Rose 14.5% on Earnings

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The S&amp;P 500 lost 2.14 points, or 0.04%, at 5,431.6 and the Nasdaq Composite added 21.32 points, or 0.12%, at 17,688.88.For the week, the Dow was down 0.5%, the S&amp;P 500 rose 1.6% and the Nasdaq was up 3.2%.<img src=\"https://community-static.tradeup.com/news/c5ce7c2ca6f7c04daff0a4eb49438c7e\" tg-width=\"938\" tg-height=\"157\"/><h2 id=\"id_215835447\">Market Movers</h2>Adobe reported fiscal second-quarter earnings that were better than expected and the creative and marketing software company boosted guidance for the fiscal year ending in November. Net new digital media annualized recurring revenue—a closely watched metric for Adobe—was $487 million, well above the company’s forecast of $440 million forecast. Adobe exited the quarter with total digital media ARR of $16.25 billion. “We had a great first half, and we’re carrying that momentum into the second half, all on the back of innovation in all of our clouds, bringing them to life with generative AI, with real productivity gains for our customers,” Chief Financial Officer Dan Durn told Barron’s. The stock rose 14.5%.Tesla shareholders reapproved CEO Elon Musk’s $56 billion pay package in a vote Thursday. Shareholders had to reconsider the issue after a Delaware judge, citing inadequate disclosures, in January voided the package, which passed in 2018 with more than 70% support. Tesla’s board put the same package, granting Musk some 300 million stock options, up for another vote with new disclosures. The percentage pf shareholders that backed the proposal on Thursday wasn’t disclosed. Tesla shares fell 2.4%.Carnival fell 7.1%, Norwegian Cruise Line Holdings fell 7.5%, and Royal Caribbean dropped 4.4% after analysts at Bank of America said based on cruise prices pulled in early June “there was modestly softer pricing in ocean markets relative to early May.”GameStop fell 1.4%. Keith Gill, the investor known as Roaring Kitty, shared a screenshot on Reddit late Thursday that showed an E*Trade account holding more than 9 million GameStop shares and $6.34 million in cash. That compares with his prior position on Monday of 5 million shares and 120,000 call options that would have allowed him to buy shares for $20 each. The 9 million shares were worth about $262.1 million at Thursday’s close of $29.12. Meanwhile, the stock closed Thursday 14% higher even as GameStop’s livestream for its annual meeting crashed amid overwhelming interest. The meeting was rescheduled to Monday.Broadcom dipped 1.7% after the stock closed at a record high Thursday following better-than-expected earnings from the semiconductor and software company and after it announced a 10-for-1 stock split. RH reported a first-quarter adjusted loss of 40 cents a share, wider than analysts’ expectations that called for a loss of 13 cents. Revenue at the luxury furniture retailer fell to $727 million from $739.2 million but beat forecasts of $725.1 million. RH shares tumbled 17%.Shopify was upgraded to Outperform from In-Line at Evercore ISI with a price target of $75. Shares of the e-commerce company rose 4.6% to $67.66.Zscaler rose 1.8% to $184.22 after shares of the cybersecurity company were raised to Overweight from Neutral at J.P. Morgan and the analysts boosted the price target to $230 from $205.Datadog sank 1.4% to $117.84 after analysts at Monness Crespi downgraded the stock to Sell from Neutral following a rally in the stock this month.Hasbro rose 6%. Shares of the toy maker were upgraded to Buy from Neutral at BofA Securities.<h2 id=\"id_3378142872\">Market News</h2>Boeing tells suppliers it is slowing 737 output goal by 3 months, sources sayBoeing has told suppliers it is delaying a key production milestone for its 737 jet family by three months, two industry sources said, as it continues to struggle with a crisis that is hurting output.A new Boeing supplier schedule communicated to the industry calls for 737 output to reach 42 a month in September, compared with a previous target of reaching that output in June, the sources said. 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The S&amp;P 500 lost 2.14 points, or 0.04%, at 5,431.6 and the Nasdaq Composite added 21.32 points, or 0.12%, at 17,688.88.For the week, the Dow was down 0.5%, the S&amp;P 500 rose 1.6% and the Nasdaq was up 3.2%.<img src=\"https://community-static.tradeup.com/news/c5ce7c2ca6f7c04daff0a4eb49438c7e\" tg-width=\"938\" tg-height=\"157\"/><h2 id=\"id_215835447\">Market Movers</h2>Adobe reported fiscal second-quarter earnings that were better than expected and the creative and marketing software company boosted guidance for the fiscal year ending in November. Net new digital media annualized recurring revenue—a closely watched metric for Adobe—was $487 million, well above the company’s forecast of $440 million forecast. Adobe exited the quarter with total digital media ARR of $16.25 billion. “We had a great first half, and we’re carrying that momentum into the second half, all on the back of innovation in all of our clouds, bringing them to life with generative AI, with real productivity gains for our customers,” Chief Financial Officer Dan Durn told Barron’s. The stock rose 14.5%.Tesla shareholders reapproved CEO Elon Musk’s $56 billion pay package in a vote Thursday. Shareholders had to reconsider the issue after a Delaware judge, citing inadequate disclosures, in January voided the package, which passed in 2018 with more than 70% support. Tesla’s board put the same package, granting Musk some 300 million stock options, up for another vote with new disclosures. The percentage pf shareholders that backed the proposal on Thursday wasn’t disclosed. Tesla shares fell 2.4%.Carnival fell 7.1%, Norwegian Cruise Line Holdings fell 7.5%, and Royal Caribbean dropped 4.4% after analysts at Bank of America said based on cruise prices pulled in early June “there was modestly softer pricing in ocean markets relative to early May.”GameStop fell 1.4%. Keith Gill, the investor known as Roaring Kitty, shared a screenshot on Reddit late Thursday that showed an E*Trade account holding more than 9 million GameStop shares and $6.34 million in cash. That compares with his prior position on Monday of 5 million shares and 120,000 call options that would have allowed him to buy shares for $20 each. The 9 million shares were worth about $262.1 million at Thursday’s close of $29.12. Meanwhile, the stock closed Thursday 14% higher even as GameStop’s livestream for its annual meeting crashed amid overwhelming interest. The meeting was rescheduled to Monday.Broadcom dipped 1.7% after the stock closed at a record high Thursday following better-than-expected earnings from the semiconductor and software company and after it announced a 10-for-1 stock split. RH reported a first-quarter adjusted loss of 40 cents a share, wider than analysts’ expectations that called for a loss of 13 cents. Revenue at the luxury furniture retailer fell to $727 million from $739.2 million but beat forecasts of $725.1 million. RH shares tumbled 17%.Shopify was upgraded to Outperform from In-Line at Evercore ISI with a price target of $75. Shares of the e-commerce company rose 4.6% to $67.66.Zscaler rose 1.8% to $184.22 after shares of the cybersecurity company were raised to Overweight from Neutral at J.P. Morgan and the analysts boosted the price target to $230 from $205.Datadog sank 1.4% to $117.84 after analysts at Monness Crespi downgraded the stock to Sell from Neutral following a rally in the stock this month.Hasbro rose 6%. Shares of the toy maker were upgraded to Buy from Neutral at BofA Securities.<h2 id=\"id_3378142872\">Market News</h2>Boeing tells suppliers it is slowing 737 output goal by 3 months, sources sayBoeing has told suppliers it is delaying a key production milestone for its 737 jet family by three months, two industry sources said, as it continues to struggle with a crisis that is hurting output.A new Boeing supplier schedule communicated to the industry calls for 737 output to reach 42 a month in September, compared with a previous target of reaching that output in June, the sources said. Boeing was not immediately available for comment.Tesla plans to leverage Elon Musk&#39;s big pay win in Delaware court battleTesla will use Thursday&#39;s strong support for Elon Musk&#39;s $56 billion pay package to try to win over a Delaware judge that invalidated his 2018 agreement, the company&#39;s board president said Friday.The long process to reaffirm the largest-ever corporate pay package ended Thursday, when nearly three-quarters of shareholders - excluding Musk and his brother - voted in favor of the deal, overcoming opposition from a number of institutional investors and proxy advisory firms.Trade US Stocks 24/5 with Tiger Trade!<img src=\"https://community-static.tradeup.com/news/cb2a68ea7a1c0e44eb3c83005b3fcbbc\" alt=\"\"/></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197286681","content_text":"The Nasdaq eked out a fifth straight record closing high on Friday following gains in Adobe and other technology-related shares, while the S&P 500 and Dow ended slightly lower.Market SnapshotThe Dow Jones Industrial Average fell 57.94 points, or 0.15%, to 38,589.16. The S&P 500 lost 2.14 points, or 0.04%, at 5,431.6 and the Nasdaq Composite added 21.32 points, or 0.12%, at 17,688.88.For the week, the Dow was down 0.5%, the S&P 500 rose 1.6% and the Nasdaq was up 3.2%.Market MoversAdobe reported fiscal second-quarter earnings that were better than expected and the creative and marketing software company boosted guidance for the fiscal year ending in November. Net new digital media annualized recurring revenue—a closely watched metric for Adobe—was $487 million, well above the company’s forecast of $440 million forecast. Adobe exited the quarter with total digital media ARR of $16.25 billion. “We had a great first half, and we’re carrying that momentum into the second half, all on the back of innovation in all of our clouds, bringing them to life with generative AI, with real productivity gains for our customers,” Chief Financial Officer Dan Durn told Barron’s. The stock rose 14.5%.Tesla shareholders reapproved CEO Elon Musk’s $56 billion pay package in a vote Thursday. Shareholders had to reconsider the issue after a Delaware judge, citing inadequate disclosures, in January voided the package, which passed in 2018 with more than 70% support. Tesla’s board put the same package, granting Musk some 300 million stock options, up for another vote with new disclosures. The percentage pf shareholders that backed the proposal on Thursday wasn’t disclosed. Tesla shares fell 2.4%.Carnival fell 7.1%, Norwegian Cruise Line Holdings fell 7.5%, and Royal Caribbean dropped 4.4% after analysts at Bank of America said based on cruise prices pulled in early June “there was modestly softer pricing in ocean markets relative to early May.”GameStop fell 1.4%. Keith Gill, the investor known as Roaring Kitty, shared a screenshot on Reddit late Thursday that showed an E*Trade account holding more than 9 million GameStop shares and $6.34 million in cash. That compares with his prior position on Monday of 5 million shares and 120,000 call options that would have allowed him to buy shares for $20 each. The 9 million shares were worth about $262.1 million at Thursday’s close of $29.12. Meanwhile, the stock closed Thursday 14% higher even as GameStop’s livestream for its annual meeting crashed amid overwhelming interest. The meeting was rescheduled to Monday.Broadcom dipped 1.7% after the stock closed at a record high Thursday following better-than-expected earnings from the semiconductor and software company and after it announced a 10-for-1 stock split. RH reported a first-quarter adjusted loss of 40 cents a share, wider than analysts’ expectations that called for a loss of 13 cents. Revenue at the luxury furniture retailer fell to $727 million from $739.2 million but beat forecasts of $725.1 million. RH shares tumbled 17%.Shopify was upgraded to Outperform from In-Line at Evercore ISI with a price target of $75. Shares of the e-commerce company rose 4.6% to $67.66.Zscaler rose 1.8% to $184.22 after shares of the cybersecurity company were raised to Overweight from Neutral at J.P. Morgan and the analysts boosted the price target to $230 from $205.Datadog sank 1.4% to $117.84 after analysts at Monness Crespi downgraded the stock to Sell from Neutral following a rally in the stock this month.Hasbro rose 6%. Shares of the toy maker were upgraded to Buy from Neutral at BofA Securities.Market NewsBoeing tells suppliers it is slowing 737 output goal by 3 months, sources sayBoeing has told suppliers it is delaying a key production milestone for its 737 jet family by three months, two industry sources said, as it continues to struggle with a crisis that is hurting output.A new Boeing supplier schedule communicated to the industry calls for 737 output to reach 42 a month in September, compared with a previous target of reaching that output in June, the sources said. Boeing was not immediately available for comment.Tesla plans to leverage Elon Musk's big pay win in Delaware court battleTesla will use Thursday's strong support for Elon Musk's $56 billion pay package to try to win over a Delaware judge that invalidated his 2018 agreement, the company's board president said Friday.The long process to reaffirm the largest-ever corporate pay package ended Thursday, when nearly three-quarters of shareholders - excluding Musk and his brother - voted in favor of the deal, overcoming opposition from a number of institutional investors and proxy advisory firms.Trade US Stocks 24/5 with Tiger Trade!","news_type":1},"isVote":1,"tweetType":1,"viewCount":224,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}