Adobe — The software company’s stock rose 4% in extended trading after Adobe provided its second-quarter earnings. Adobe reported earnings of $2.45 per share excluding some items with revenue of $3.13 billion, while analysts estimated earnings of $2.33 per share on revenue of $3.16 billion. “The tectonic shift towards ‘all things digital’ across all customer segments globally will serve as a tailwind to our growth initiatives as we emerge from this crisis,” said president and CEO Shantanu Narayen in a company statement when referring to the coronavirus pandemic. Adobe ADBE, shares rose 4.4% after hours, following a 4.7% decline in the regular session to close at $387.67. The 23 analysts offering 12-month price forecasts for Adobe Inc have a median target of $350.00, with a high estimate of $450.00 and a low estimate of $290.00. The median estimate represents a -10.65% decrease from the last price of 391.73.
Lululemon — The athletic apparel retailer’s stock tumbled 7% in extended trading after the company released its earnings for the first quarter. Lululemon said it had earnings of 22 cents per share with revenue of $652 million, while analysts anticipated earnings of 23 cents per share on revenue of $688 million. The retailer said it had a 17% drop in total revenue compared to last year. The company’s reported 68% increase in direct-to-consumer net revenue was not enough to offset the hit it took from temporary store closures stemming from the coronavirus pandemic. Lululemon is up more than 40% from a 226.52 buy point in a cup with handle, well-above the 20%-25% profit-taking level. Lululemon Athletica Inc, NASDAQ: LULU closed at $308.12. A long-term increase is expected, the "LULU" stock price prognosis for 2025 is $663.278. With a 5-year investment, the revenue is expected to be around +115.55%.
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