Adobe, MetLife Oxford Industries and More: Top stockmovers Now

The Key Takeaways

• The major U.S. indices were slightly lower Thursday at noon after the November Producer Price Index was higher than expected.
• Adobe's guidance raised concerns about the boost the software maker would get from the artificial intelligence boom.
• Warner Bros. Discovery is dividing into two distinct units.

The major U.S. indices were barely changed at noon on Thursday, and they ended the day slightly lower. This was in response to a report that showed wholesale inflation rose more than anticipated for November. The Dow, S&P 500, and Nasdaq all slid. 

Adobe shares (ADBE), which are owned by Adobe, fell sharply after the company gave a less optimistic outlook than expected. This raised concerns about the potential delay in the demand for artificial intelligence.

Oxford Industries’ (OXM), the parent company of Tommy Bahama and Johnny Was, as well as Lilly Pulitzer and Lilly Pulitzer apparel, posted a surprise loss. It also lowered its sales forecasts due to hurricanes and inflation.

UBS’s downgrade of Nucor, Steel Dynamics and Commercial Metals has caused shares to plummet.

MetLife shares rose after the insurer introduced a five-year strategy aimed at boosting profits and returns on equity, lowering expenses, and increasing cash flow.

After a court ruling that blocked the $20 billion proposed deal, Albertsons terminated its agreement to merge with Kroger.

Warner Bros. Discovery’s (WBD), shares rose when it announced that the conglomerate would split into two divisions: one focusing on linear global TV, and the second housing the streaming and studios businesses.

The price of oil and gold dropped. The 10-year Treasury yield was higher. The U.S. Dollar gained against the British pound but lost to the Euro and the Japanese Yen. Most major crypto currencies saw their prices rise. 

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