Adobe Stock Plummets on Disappointing Guidance

Shares of Adobe Inc (NASDAQ:ADBE) are down 12.8% at $479.45 at last glance, after the software name's disappointing full-year and fiscal first-quarter forecasts, despite better-than-expected fiscal fourth-quarter earnings and revenue. In response, TD Cowen downgraded the stock to "hold" from "buy" and lowered its price target to $550 from $625, while a flood of other analysts slashed their price objectives as well. Today's bear gap has ADBE headed for its worst single-day percentage loss since its March ear ...