Investing.com – As the second week of December ended, many stocks saw significant volatility, often in reaction to their earnings results. Among many stocks, here are this week's Investing.com stocks:
Adobe
Adobe (NASDAQ:) saw a sharp decline after reporting disappointing guidance on Thursday, which led many analysts, including those from RBC Capital, to lose ground. Mizuho (NYSE:), Piper Sandler, and Oppenheimer, to lower their price targets to a range of $590 to $620.
RBC Capital cut its price target to $590 from $610, citing reduced estimates but maintained an outperform rating. The company noted that Adobe's quarterly results were strong, with record net new ARR at DM, although the upside was smaller compared to recent quarters.
“ADBE has been a disappointing stock through most of FY24. However, we remain confident that ADBE will significantly monetize its generative AI innovations going forward, and we expect healthy upside to our FY25 ARR/revenue guidance as the year develops ” The analyst at Mizuho said.
On Friday, Adobe stock continued to decline, trading down nearly 2% at $465.
Broadcom
Broadcom Inc (NASDAQ:) stock saw a positive reaction after its earnings, supported by upbeat guidance and rising AI revenue. The company's value reached $1 trillion on Friday and its shares rose more than 24%.
Cantor Fitzgerald reaffirmed an overweight rating and a $250 price target on the stock.
“AI strength continues at a rapid pace for AVGO, and the company has set a SAM plan of between $60 billion and $90 billion with the three AI clients it currently has,” noted a Piper Sandler analyst.
Warner Bros. Discovery
Warner Bros. Discovery Inc. (NASDAQ:) this week announced its new corporate structure, under which Warner Bros. Discovery Inc. will operate. Discovery is the parent company of two distinct operating divisions – Global Linear Networks and Streaming & Studios.
“We continue to prioritize ensuring our global linear networks business is well positioned to continue driving free cash flow, while our broadcast and studios businesses are focused on driving growth by telling the world's most compelling stories,” said the company's president and CEO, David. Zaslav.
The company expects to complete the implementation of the new corporate structure by mid-2025. The new structure is expected to give it more flexibility.
alphabet
Alphabet Inc (NASDAQ:) Google began the week by unveiling a new chip called Willow, which demonstrates advanced error correction and performance capabilities, paving the way for a practical, large-scale quantum computer.
The tech giant also unveiled Gemini 2.0, its latest AI model, which Google claims is the most advanced yet.
Although shares rose during the week following these announcements, Alphabet shares ended the week down 1.11%.
Separately, The Information reported on Thursday that Alphabet CEO Sundar Pichai is expected to meet with President-elect Donald Trump.
