{
}
Cybersecurity researchers have identified malicious npm packages impersonating the Nomic Foundation's Hardhat tool, aimed at stealing sensitive developer data like private keys and mnemonics. These counterfeit packages exploit the Hardhat environment to exfiltrate information to attacker-controlled servers. Additionally, other fake libraries across npm, PyPI, and RubyGems have been found using out-of-band application security testing tools to gather sensitive data, highlighting the growing complexity and risks within the npm ecosystem.
UBS analyst Karl Keirstead has reduced Adobe's price target from $525 to $475 while maintaining a Neutral rating. The firm notes that the second half of 2024, along with Coca-Cola's AI-generated holiday ad, could be pivotal for AI content acceptance, despite the competitive landscape. While Adobe's tools weren't used for the initial content creation, they were employed for final editing and post-production.
Adobe's stock has declined following UBS's decision to lower its price target from $525 to $475, citing a "fiercely competitive" AI market. Analysts express concerns that Adobe may struggle against rivals like OpenAI, despite the company's efforts to integrate generative AI tools into its products, including the Firefly suite and photo-editing software.
Insiders sold 3,293 shares of Adobe stock valued at $1.68 million, with corporate insiders owning 0.15% of the stock. Institutional investors hold 81.79% of shares, with recent modifications in holdings by firms like Commonwealth Financial Services and Onyx Bridge Wealth Group. Adobe's stock has a "Moderate Buy" rating, with a consensus price target of $582.96, while shares recently traded down 2.4% to $430.49.
Adobe's stock fell 2.8% amid UBS's assessment of the increasingly competitive landscape in the creative artificial intelligence market. This shift is highlighted by recent commercials from Coca-Cola, indicating a growing focus on AI in advertising.
Dow Jones, S&P 500, and Nasdaq futures will open Sunday evening, with the final Federal Reserve meeting of 2024 scheduled for Dec. 17-18, where a quarter-point rate cut is expected. The stock market had a mixed week, with the Nasdaq slightly up, driven by gains in Alphabet, Tesla, and Broadcom, while Nvidia lagged amid rising Treasury yields. Palantir, MicroStrategy, and Axon Enterprise will join the Nasdaq 100 index, replacing Moderna, Super Micro Computer, and Illumina.
Adobe's 2025 sales and earnings guidance fell short of expectations as the company focuses on expanding its generative AI technology before monetization, leading to a stock decline. Oracle also reported mixed results, with a 10% EPS gain and 9% sales increase, but missed high expectations. Meanwhile, Tesla reached a record high amid optimism about self-driving technology, and Alphabet's stock surged following the announcement of a breakthrough quantum computing chip and new AI tools.
Jim Cramer highlighted the significance of President-elect Donald Trump's visit to the New York Stock Exchange, viewing it as a positive indicator for the market despite a decline in major averages. Cramer emphasized Trump's pro-business attitude, which he believes reassures investors and fosters a favorable environment for stock prices, contrasting it with President Biden's lack of engagement with the NYSE. He drew parallels to former President Reagan's visit in 1985, suggesting that Trump's presence signals a commitment to supporting higher stock values.
Dow Jones, S&P 500, and Nasdaq futures showed little change after hours, with Broadcom and Costco reporting earnings. Broadcom's results indicated a potential breakout, while Arm Holdings flashed a buy signal. The stock market rally faced modest losses, particularly among small caps, as the Nasdaq remains near record highs despite a decline in major tech stocks like Nvidia and Adobe.
U.S. stock indexes closed lower on Thursday, pressured by a rise in tech stocks and bond yields following a hotter-than-expected producer price index report, which showed wholesale prices increased by 0.4% in November. Nvidia and Adobe led declines in the Nasdaq, with Adobe's stock plummeting nearly 14% due to a disappointing revenue outlook. The Dow Jones fell over 230 points, while jobless claims rose to 242,000, exceeding forecasts and marking the highest level since early October.
Adobe Inc.
Companies
| Symbol | ADBE |
| Name | Adobe Inc. |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Software & Services |
| Industry | Software |
| Market | NASDAQ Global Select |
| Country | United States |
| State | CA |
| City | San Jose |
| Zipcode | 95110-2704 |
| Website | http://www.adobe.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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