Adobe Inc (NASDAQ:ADBE) stock fell more than 6% in extended trading Wednesday after the company’s fiscal 2024 guidance fell short of expectations.
The creative software company posted fiscal fourth-quarter adjusted earnings of $4.27, topping expectations of $4.14 per share. Revenue was $5.05 billion, up 12% year over year and above expectations of $5.03 billion.
Etsy (NASDAQ:ETSY) is slashing its headcount by 11% during the holiday shopping season, the company announced Wednesday, citing a “very challenging macro and competitive environment.”
The cuts will affect around 225 Etsy employees, bringing the DIY e-commerce site’s headcount to about 1,770. That’s roughly where things stood in early 2022, according to reports.
Meanwhile, Vertex Pharmaceuticals (NASDAQ:VRTX) shares surged more than 13% on Wednesday after the company announced an agreement to license CRISPR-Cas9 gene-editing technology from Editas Medicines.
In exchange for $100 million plus potential licensing fees, Vertex got non-exclusive licensing rights to medicines targeting the BCL11A gene in Sickle Cell Disease. That includes Casgevy, which was approved by the Food and Drug Administration (FDA) earlier this month.