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<p class="has-drop-cap">In a day of mixed market movements, three technology companies are making waves on Wall Street. Uber Technologies Inc. (NASDAQ: UBER), Adobe Inc. (NASDAQ: ADBE), and MicroStrategy Inc. (NASDAQ: MSTR) are each experiencing significant stock price fluctuations due to recent announcements and financial results.</p>
<h3 id="uber-shares-surge-following-waymo-partnership-expansion">Uber Shares Surge Following Waymo Partnership Expansion</h3>
<p>Uber Technologies Inc. (UBER) shares surged 5.07% to $71.54 following news of an <a href="https://thehill.com/policy/technology/4878330-uber-waymo-autonomous-vehicles/" target="_blank" aria-label="expanded partnership (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">expanded partnership</a> with Alphabet’s Waymo for autonomous ride-hailing services. <br><br>The company announced plans to offer driverless rides in Austin, Texas, and Atlanta, Georgia, beginning in early 2025. This expansion, which builds on their initial collaboration in Phoenix, represents a significant step forward in Uber’s autonomous vehicle strategy. <br><br>The move is seen as a response to investor pressure and a potential counter to Waymo’s growing presence in the ride-sharing market. Uber’s stock has shown strong performance, with a year-to-date return of 16.19% and a one-year return of 49.29%, outpacing the broader <a href="https://tokenist.com/investing/spx-vs-spy/" rel="noopener noreferrer nofollow" class="deco-link">S&amp;P 500 index</a>.</p>
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<h3 id="adobe-stock-plummets-after-firm-reports-weaker-than-expected-guidance">Adobe Stock Plummets After Firm Reports Weaker-than-Expected Guidance</h3>
<p>Adobe Inc. (ADBE) experienced a sharp decline of 9.39%, with shares falling to $531.50 after the company released its third-quarter results and provided <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-09-13-2024/card/adobe-stock-slides-after-company-gives-weak-guidance-3OSQW05Gp7ZIfhoGb0nt" target="_blank" aria-label="weaker-than-expected guidance (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">weaker-than-expected guidance</a> for the fourth quarter. Despite reporting a revenue increase of 11% year-over-year to $5.41 billion and a net income of $1.68 billion for Q3, Adobe’s fourth-quarter revenue forecast of $5.50 billion to $5.55 billion fell short of analysts’ expectations of $5.61 billion. <br><br>The software giant’s stock has underperformed the S&amp;P 500 this year, with a year-to-date return of -10.91%. However, some analysts remain optimistic, with Goldman Sachs maintaining a buy rating and a $640 price target, citing Adobe’s progress in AI integration.</p>
<h3 id="microstrategy-stock-jumps-following-news-of-1-11-billion-bitcoin-buy">Microstrategy Stock Jumps Following News of $1.11 Billion Bitcoin Buy</h3>
<p>MicroStrategy Inc. (MSTR) shares jumped 7.02% to $139.95 following the announcement of a <a href="https://news.bitcoin.com/microstrategy-buys-18300-more-bitcoins-boosting-total-holdings-to-244800-btc/" target="_blank" aria-label="significant Bitcoin purchase (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">significant Bitcoin purchase</a>. The company acquired an additional 18,300 bitcoins for approximately $1.11 billion between August 6 and September 12, 2024, at an average price of about $60,408 per bitcoin. <br><br>This latest acquisition brings MicroStrategy’s total bitcoin holdings to 244,800, with a total investment of $9.45 billion. The company’s aggressive cryptocurrency strategy has led to remarkable stock performance, with a year-to-date return of 121.65% and a one-year return of 302.58%, significantly outperforming the broader market. MicroStrategy funded the purchase through stock sales, selling 8,048,449 shares to raise $1.11 billion.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/stocks-to-watch-today-uber-adbe-and-mstr/">Stocks to Watch Today: UBER, ADBE, and MSTR</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: UBER, ADBE, and MSTR

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