Adobe shares are trading lower after the company reported Q1 financial results and issued weak guidance. The company announced a $25 billion repurchase program.
Portfolio Pulse from Benzinga Newsdesk
Adobe's stock is trading lower following the announcement of its Q1 financial results and weaker-than-expected future guidance, despite revealing a $25 billion repurchase program.
March 14, 2024 | 8:16 pm
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Adobe's shares are down after reporting Q1 results and weak guidance, even with a $25 billion buyback program.
Adobe's stock price is likely to face downward pressure in the short term due to the weak guidance overshadowing the positive news of a substantial repurchase program. Investors often view weak future guidance as a sign of potential challenges ahead, which can lead to a decrease in stock price.
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