"Market Movers: Adobe Slides, Ulta Falls, Rivian Rises"
TL;DR Summary
Adobe, Ulta Beauty, and Hibbett Sports fell in premarket trading after issuing weaker-than-expected guidance and missing analysts' expectations, while Rivian rose after an upgrade from Piper Sandler. Madrigal Pharmaceuticals saw a 25% jump in stock after FDA approval of its drug, and Smartsheet stock fell 10% due to a revenue outlook that missed estimates.
- Adobe, Ulta Beauty, Hibbett fall premarket; Rivian rises By Investing.com Investing.com
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- Dow Jones and S&P 500 open lower as Adobe slides Proactive Investors UK
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