Markets

Breakdown of the latest developments on the global exchanges
Mar 11, 2019, 12:00 PM GMT
#EarningsSeason

Adobe Inc. Earnings Report on Thursday

This week's highlight on the Stock Market is the earnings report from the software powerhouse Adobe. In the last report, the company showcased a reduction in the earnings per share to 1.5, which was a misstep from the 1.56 forecasted earnings per share, bringing a -3.85% surprise. As a result, the share price fell with 18 dollars in the following trading session from 248.08 to 230.00 USD. This time, the consensus is for 1.26 dollars per share to be reported this Thursday, which is equivalent to a decrease of 0.24 from the last report.

The market has already started to take notice of the forecast and the price is looking more bearish. Last week the share price registered a 3.51% loss of value, in anticipation of this week's earnings report, and reached the major support level of 252.26.