Adobe Gears Up For Thursday Earnings As Options Traders Go Bullish
Portfolio Pulse from Lisa Levin
Adobe Inc. (NASDAQ:ADBE) is set to report its quarterly earnings on Sept. 14, 2023. Options traders are bullish, with Adobe trading around 1.5x its average daily call volume. The options market implies a +/-5% move post-earnings release, in line with its historic average. Analysts expect earnings of $3.98 per share on revenue of $4.87 billion. Adobe shares gained 0.7% to close at $564.50 on Monday.
September 12, 2023 | 12:38 pm
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Adobe is set to report earnings, with options traders showing bullish sentiment. The market implies a +/-5% move post-earnings, in line with its historic average.
The bullish sentiment from options traders and the expected +/-5% move post-earnings release suggest potential positive short-term impact on Adobe's stock. The company's stock already gained 0.7% on Monday, indicating positive market sentiment.
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