Adobe shares plummeted over 10% in extended trading after the software company issued weaker-than-expected guidance for its fiscal fourth quarter. The company forecasted revenue to be between $5.50 billion to $5.55 billion, falling short of analysts’ estimates of $5.61 billion. Additionally, adjusted earnings per share guidance came in at $4.63 to $4.68, below the expected $4.67 per share. Despite this, Adobe’s third-quarter earnings and revenue surpassed expectations.
On the other hand, Oracle saw a nearly 6% increase in its stock price after raising its revenue guidance. The cloud software company announced during its analyst day that it anticipates reaching revenue of at least $66 billion by 2026, higher than previous guidance of $65 billion and analysts’ forecast of $64.8 billion. This positive outlook from Oracle fueled investor optimism and drove the stock price higher in extended trading.
Neurocrine Biosciences, a neuroscience-focused biopharma company, experienced a more than 2% decline in its stock price after reporting disappointing results for its schizophrenia treatment drug, luvadaxistat. The drug failed to meet primary endpoints in a phase 2 study, leading to a decrease in investor confidence. This setback for Neurocrine Biosciences impacted its stock performance in extended trading.
Meanwhile, RH, a home furnishings company, witnessed a significant surge of nearly 19% after exceeding expectations for its fiscal second quarter. The company reported adjusted earnings of $1.69 per share on $830 million in revenue, surpassing analysts’ estimates of $1.56 earnings per share and revenue of $825 million. This strong performance from RH propelled its stock price higher in extended trading.
Aptiv PLC, an auto parts company, saw a 1.7% increase in its stock price following news that CEO Kevin Clark had purchased nearly 30,000 shares earlier in the week. This insider buying activity provided a positive signal to investors, leading to a slight uptick in the stock price of Aptiv PLC in extended trading. Overall, these companies making headlines in extended trading experienced a mix of positive and negative news, impacting their stock performance.
