(Reuters) -Photoshop maker Adobe raised its revenue forecast for fiscal 2024 on Thursday as more businesses and consumers take to its artificial intelligence-powered editing tools amid signs of an easing economy. Shares of the San Jose, California-based company jumped 14% in extended trading. The company now expects revenue of between $21.40 billion and $21.50 billion,…
LONDON (Reuters) – Investors dumped U.S. value stocks and bought growth stocks in the week to Wednesday, according to BofA Global Research, a period marked by cooler than expected inflation data that sent bond yields lower. There were $1.8 billion of inflows to U.S. growth stock funds in the week, and $2.6 billion of outflows…
By Arsheeya Bajwa (Reuters) – Broadcom surged more than 13% on Thursday as its upbeat annual forecast highlighted an insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria. The rising adoption of generative AI has been driving demand for companies such as Broadcom that…
(Reuters) – Social media platform X’s lawsuit against media watchdog group Media Matters will head to trial on April 7, 2025, a U.S. District judge ordered on Thursday. X, which is owned by billionaire Elon Musk, sued Media Matters in November, accusing the group of defamation after it published a report that said ads had…
WASHINGTON (Reuters) -The United States is considering taking additional steps against Chinese companies that have been supplying Russia’s defense industrial sector, the State Department said on Thursday. “We are considering further actions,” State Department spokesperson Matthew Miller said in a briefing to reporters a day after Washington targeted China-based firms that have been selling semi-conductors…
(Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday said the U.S. employment picture increasingly resembles the job market that existed prior to the COVID-19 pandemic, and slowing wage growth is not a threat to add to inflation. “The labor market has become a little less hot, a little bit more normal. The number of…
WASHINGTON (Reuters) – U.S. consumer prices were unexpectedly unchanged in May amid cheaper gasoline, but inflation likely remains too high for the Federal Reserve to start cutting interest rates before September against the backdrop of a persistently strong labor market. The unchanged reading in the consumer price index reported by the Labor Department’s Bureau of…
By Pranav Kashyap and Medha Singh (Reuters) – Citron Research no longer has a short position in retail traders’ favorite GameStop, the short seller said on X.com on Wednesday, days after taking a bearish position in the company. “It’s not because we believe in a turnaround for the company fundamentals will ever happen, but with…
COPENHAGEN (Reuters) – U.S. electric vehicle manufacturer Tesla has been reported to police in Sweden accused of performing electrical installation work without the necessary registration, the Swedish Electricians’ Union said on Wednesday. There are already tense relations between Tesla and unions in Sweden, where the company has faced prolonged industrial action and its mechanics have…
(Reuters) -Brokerages have raised their year-end targets for the U.S. stocks benchmark S&P 500, spurred by expectations of a “soft landing” for the economy and growing odds the Federal Reserve will cut interest rates this year. Following are forecasts from some major banks on economic growth, inflation, and how they expect certain asset classes to…
