Adobe, Virgin Galactic, iRobot, Squarespace, Cava and more stock market movements
Adobe (ticker: ADBE) posted fiscal second-quarter earnings that beat analysts’ estimates, and the provider of content development and marketing software tools raised its fiscal year outlook. CEO Shantanu Narayen said Adobe’s “groundbreaking innovation” positions it to “lead the new era of generative AI.” The share rose 3.4 percent.
Virgin Galactic ( SPCE ) jumped 32% after the space tourism pioneer said the first commercial flight into space was planned for the end of the month.
iRobot ( IRBT ) rose 19% after the U.K. Competition and Markets Authority approved Amazon.com’s ( AMZN ) purchase of the robotics company. Amazon was down 1 percent.
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Squarespace ( SQSP ) climbed 7.3% after the digital publishing and e-commerce software platform said it reached an agreement to acquire about 10 million accounts linked to Google Domains.
SoFi Technologies fell 5.9% after the financial company received downgrades to Neutral from Buy by analysts at BofA and Piper Sandler.
Steel Dynamics ( STLD ) fell 2.4% after the steelmaker revealed second-quarter earnings guidance that came in below consensus.
Cava
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( CAVA ) rose 1.3% to $44.34 after shares of the fast-casual Mediterranean restaurant chain nearly doubled in value on Thursday, closing with a 99% gain in their trading debut on the New York Stock Exchange. Cava’s initial public offering was priced at $22 per share.
Walt Disney ( DIS ) Chief Financial Officer Christine McCarthy will step down and take a family medical leave, the entertainment giant said. Kevin Lansberry, executive vice president and chief financial officer of Disney Parks, Experiences and Products, will serve as interim chief financial officer effective July 1. The shares fell 1.2%.
AutoZone ( AZO ) rose 0.9% after the auto parts retailer was upgraded to Buy from Neutral by analysts at UBS.
Intel
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(INTC) said it plans to invest up to $4.6 billion to build a semiconductor assembly and test facility in Poland, with the facility helping “to meet the demand for assembly and test capacity expected in the coming years.” Intel was up 0.5 percent.
Write to Joe Woelfel at joseph.woelfel@barrons.com
