Stocks to Watch: Adobe, RH, Singular Genomics Systems, Immuneering
By Connor Hart
Adobe forecast fiscal fourth-quarter results that missed analyst expectations. The software maker guided for fourth-quarter revenue between $5.5 billion and $5.55 billion, missing the $5.6 billion that analysts polled by FactSet expect. The company expects adjusted per-share earnings between $4.63 and $4.68, the midpoint of which is below the $4.67 that Wall Street analysts projected. The company's lower-than-expected outlook came as it posted higher profit and revenue in its fiscal third quarter, boosted by demand for its artificial-intelligence enabled products. Shares fall 8.8%, to $534.75, in after-hours trading.
RH, the holding company behind Restoration Hardware, said demand accelerated during the second quarter, boosting its top- and bottom-line results. The home-goods retailer posted earnings of $29 million, or $1.45 a share, for the period ended Aug. 3, compared with $76.5 million, or $3.36 a share. Revenue increased 3.6% to $829.7 million, beating the $824.5 million that analysts forecast. Shares jump 19%, to $304.96, in postmarket trading.
Singular Genomics Systems received a non-binding acquisition proposal from Deerfield Management. Deerfield, which plans to acquire all shares of Singular's common stock that it doesn't already own for $10 each, said in a letter that it plans to invite other major stockholders and existing management to roll over their shares into the new company. Shares of the San Diego life-science company surge 64%, to $9.26 in after-hours trading.
Immuneering said it received positive results from its initial Phase 2 trial for its inhibitor IMM-1-104 in combination with chemotherapy in first-line pancreatic cancer patients. The clinical-stage oncology company said the data relate to the first five patients treated with IMM-1-104 and chemotherapy. Shares surge 49%, to $2.13, in postmarket trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
September 12, 2024 20:03 ET (00:03 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
The 10 Best Companies to Invest in Now
-
New 4-Star Stocks
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth