Diamonds and Dogs

12/12/24

Kroger (KR) jumps 3% on a share buyback plan. Kroger, the largest independent grocery supermarket chain was trying to get bigger by buying rival, Albertsons for $24.6 billion, but the deal has been struck down by a federal judge. The new buyback is Kroger's way of moving on. Morgan Stanley upgraded the stock with a $62 price target.

Adobe (ADBE) pulls back following earnings and guidance. The acrobat software maker did beat earnings by 14 cents as sales rose 11% year over year to $5.61 billion ahead of estimates, but guidance was weak while also withholding key metric guidance for certain segments. TD Cowen downgraded the stock to a hold amid growth concerns and the monetization of AI with growing competition.

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