Adobe CEO Shantanu Narayen.Linda Dimyan | CNBCAdobe shares dropped more than 6% in extended trading Wednesday after the software maker posted a lighter-than-expected forecast for 2024.Here's how the company did, compared to consensus estimates from LSEG, formerly known as Refinitiv:Earnings per share: $4.27, adjusted vs. $4.14 expectedRevenue: $5.05 billion...
Federal Reserve Board Chairman Jerome Powell answers a question during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, November 1, 2023.Kevin Lamarque | ReutersThe Federal Reserve dialed back its inflation projections on Wednesday,...
A sign hangs in front of the world headquarters of Vertex Pharmaceuticals in Boston on Oct. 23, 2019.Brian Snyder | ReutersShares of Vertex Pharmaceuticals jumped Wednesday after the company's painkiller, which is being tested as an alternative to opioids, significantly decreased pain in a midstage trial.Those positive results for...
Check out the companies making headlines in midday trading. Etsy — Etsy's stock sank 5% after the e-commerce company said it's laying off 11% of its workforce , or about 225 employees, as it deals with a difficult macro and competitive environment. The e-commerce marketplace also updated its fourth-quarter...
SpaceX's next-generation Starship spacecraft atop its powerful Super Heavy rocket is launched from the company's Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, U.S. November 18, 2023. Joe Skipper | ReutersThe valuation of Elon Musk's SpaceX hit $180 billion based on an ongoing secondary share sale, CNBC confirmed Wednesday.The...
Etsy is laying off 11% of its workforce at the height of the holiday season as the e-commerce giant looks to restructure its business and streamline costs against a "very challenging" macro and competitive environment, the company announced on Wednesday. Approximately 225 employees will be cut from Etsy's workforce, which...
