Market Updates
U.S. Movers: Adobe, Boeing, RH
Scott Peters
13 Sep, 2024
New York City
Boeing declined 2.5% to $158.80 after the workers union rejected the latest agreement with the company and decided to strike.
RH soared 19% to $305.0, and the furniture retailer reported better-than-expected quarterly results.
Net revenue increased 3.6% to $830 million, net income declined to $28.9 million from $76.4 million, and diluted earnings per share were $1.57 from $3.65.
The company estimated revenue to increase between 7% and 9% in the third quarter and adjusted its operating earnings margin between 15% and 16%.
Adobe declined 8.9% to $534.44, and the software company reported better-than-expected fiscal third quarter results, but the company's current quarter outlook fell short of market expectations.
Adobe reported revenue in the quarter increased to $5.41 billion and adjusted earnings per share of $4.65.
Revenue increased 11% to $5.41 billion, net income advanced to $1.7 billion compared to $1.4 billion, and diluted earnings rose to $3.76 from $3.05 from a year ago.
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