Stocks to Watch: Adobe, RH, Singular Genomics Systems, Immuneering

By Connor Hart

Adobe forecast fiscal fourth-quarter results that missed analyst expectations. The software maker guided for fourth-quarter revenue between $5.5 billion and $5.55 billion, missing the $5.6 billion that analysts polled by FactSet expect. The company expects adjusted per-share earnings between $4.63 and $4.68, the midpoint of which is below the $4.67 that Wall Street analysts projected. The company's lower-than-expected outlook came as it posted higher profit and revenue in its fiscal third quarter, boosted by demand for its artificial-intelligence enabled products. Shares fall 8.8%, to $534.75, in after-hours trading.

RH, the holding company behind Restoration Hardware, said demand accelerated during the second quarter, boosting its top- and bottom-line results. The home-goods retailer posted earnings of $29 million, or $1.45 a share, for the period ended Aug. 3, compared with $76.5 million, or $3.36 a share. Revenue increased 3.6% to $829.7 million, beating the $824.5 million that analysts forecast. Shares jump 19%, to $304.96, in postmarket trading.

Singular Genomics Systems received a non-binding acquisition proposal from Deerfield Management. Deerfield, which plans to acquire all shares of Singular's common stock that it doesn't already own for $10 each, said in a letter that it plans to invite other major stockholders and existing management to roll over their shares into the new company. Shares of the San Diego life-science company surge 64%, to $9.26 in after-hours trading.

Immuneering said it received positive results from its initial Phase 2 trial for its inhibitor IMM-1-104 in combination with chemotherapy in first-line pancreatic cancer patients. The clinical-stage oncology company said the data relate to the first five patients treated with IMM-1-104 and chemotherapy. Shares surge 49%, to $2.13, in postmarket trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 12, 2024 20:03 ET (00:03 GMT)

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