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Instablog9ja
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Singer Harrysong’s estranged wife, Alexer, has celebrated responsible fathers on Father’s Day.
She said there are fathers and there are dads. She is using the occasion of the Father’s Day to celebrate her father and responsible men out there.
Instablog9ja
2 hrs
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Presidential aide, Bayo Onanuga has revealed that President Tinubu inherited a d£ad economy. as former President Muhammadu Buhari spent $1.5bn monthly to defend naira, borrowed massively to cover costs.
He added that the report by Ruth Maclean and Ismail Auwal’s, a feature story on New York Times with the title “Nigeria Confronts Its Worst Economic Crisis in a Generation’, fail to appreciate the good this government has done with its economic policies and ameliorative measure but only focus on the current situation which is as a result of the effect of the past government
Instablog9ja
4 hrs
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Media personality Toke Makinwa and a follower has cla§hed on X over her stance on Tribal marks.
Toke Makinwa has penned down her opinion on tribal marks after she saw a beautiful influencer with tribal marks. She said it is an evil practice because it was done with the consent of the persons carrying it.
The follower said there is no difference between tribal marks and tattoo but she said there is a world of difference because tattoos is a choice while tribal is not.
Healthwatch 8 hrs 35
Source: Harvard Health Publishing
Investopedia
9 hrs
14
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Adobe (ADBE) shares surged nearly 15% in extended trading on Thursday after the software maker reported earnings that topped Wall Street’s estimates and lifted its full-year earnings and sales guidance amid robust demand for its suit of generative artificial intelligence (AI) digital media products.
Below, we identify a key level to watch out for on Adobe’s chart and review the company’s latest earnings report.
Since forming a double top between December and February, Adobe shares have traded within a falling wedge, a bullish chart pattern that indicates a potential upward price movement. More recently, the stock found buying interest near the wedge’s lower trendline, with volume increasing slightly over the past week leading into the company’s quarterly results.
Following Friday’s expected earnings-driven breakout from the pattern, investors should keep an eye on the $535 level, an area on the chart where the price may encounter selling pressure near the closely-watched 50% Fibonacci retracement level, which also sits in close proximity to the downward sloping 200-day moving average and a period of February price consolidation.
The stock rose 14.8% to $526.43 in after-hours trading Thursday.
In the three-month period ending May 31, the company posted adjusted earnings of $4.48 per share, above analysts’ estimates of $4.39 a share. Revenue in the period of $5.31 billion grew 10% from the same quarter last year and edged past expectations of $5.29 billion.
The company’s Digital Media business, which houses its Creative Cloud subscriptions, reported net-new annualized recurring revenue of $487 million, well above Wall Street expectations of $437.4 million. Adobe noted that it’s seeing Creative Cloud subscribers upgrade their plans to access Firefly capabilities, the company’s generative AI model to enhance users' creative work.
“We’re pleased with the adoption of AI functionality as well as its early monetization across Document Cloud and Creative Cloud, including our flagship applications, Firefly services and Express,” Adobe’s Digital Media president David Wadhwani told analysts on the company’s conference call.
Turning to the full fiscal year outlook, Adobe lifted both its top and bottom-line guidance. It now expects adjusted earnings to range between $18.00 and $18.20 per share, up from $17.60 to $18.00 a share. It sees annual net sales of $21.40 billion to $21.50 billion, bumping the lower end of that forecast by $100 million. Analysts had been calling for adjusted earnings of $18.02 a share on revenue of $21.46 billion.
While other software companies have recently trimmed their full-year guidance citing concerns over an uncertain economic outlook and softening enterprise interest in AI development, Adobe CEO Shantanu Narayen told analysts on Thursday that the company hadn’t seen any noticeable changes to the economy.
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Investopedia
10 hrs
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Elon Musk emerged victorious on Thursday as Tesla (TSLA) shareholders voted to approve his $56 billion compensation package, as well as a proposal to move the company's incorporation to Texas.
The compensation plan was approved by investors in 2018 but was struck down by a Delaware Judge earlier this year. At the company’s annual shareholder meeting on Thursday, the proposal was approved as a resolution, which could help the board in its battle against the court order.
Tesla stock had rallied 2.9% Thursday ahead of the final shareholder Tally after Musk said late Wednesday in a post on X that both the compensation and incorporation resolutions were on the way to "passing by a wide margin."
Norway’s $1.7 trillion sovereign wealth fund, which owns 31.57 million Tesla shares and the California Public Employees' Retirement System, which holds 9.5 million shares, both came out in opposition to the compensation package.
However, there were powerful voices in favor of the pay package, including Baron Capital, which holds 17.22 million Tesla shares. Founder Ron Baron said in an open letter ahead of the vote that “Tesla is better with Elon. Tesla is Elon."
Famed short seller and long-time Tesla bear Jim Chanos also said that shareholders should approve the package, saying, “A deal's a deal even if it's a bad deal.”
Analysts had feared that a rejection of the compensation proposal would be detrimental to Tesla's business and its stock price. Elon Musk had previously said he would continue his artificial intelligence initiatives at some of his other companies if the compensation award was rejected. Some feared that he may even leave the electric vehicle maker.
Even with shareholder approval, legal experts are unclear on whether it will be enough to overturn the Delaware court’s decision.
Tesla said in a regulatory filing in April that it hoped shareholder backing would close the door on the issue, particularly after the court said the company failed to disclose important details to shareholders.
Lawyers for Tesla are set to convene with the court in July and will have a shareholder majority as leverage.
Tesla shareholders also approved the company’s plan to move its incorporation to Texas from Delaware. The company moved its corporate headquarters to Austin, TX from California in 2021, after Musk criticized California's regulatory and tax environment.
The billionaire had been critical of Delaware and its court system after the initial ruling on his pay package and said companies should incorporate in other states.
“If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible,” Musk said on X in February.
Other resolutions passed included the re-electon to the board of Musk’s brother Kimbal Musk, and James Murdoch, son of Australian media tycoon Rupert Murdoch.
Tesla shares rose 0.1% to $182.70 in extended trading Thursday. The stock has lost about a quarter of its value so far in 2024.
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