Diamonds and Dogs

9/15/22

Wynn Resorts (WYNN) gets a big upgrade. Wynn is jumping 7% on an upgrade at Credit Suisse with a $117 price target or nearly a double from current levels. The analyst sees pend up demand in Macau as China eases restrictions once again to allow vacationers and gambles to return to the, Las Vegas of Asia.

Adobe (ADBE) taking a hit after lackluster earnings and a major acquisition. Adobe is down 16% to a two year low as earnings beat, but revenue growth of 12.6% to $4.43 billion, missed estimates. Adobe also made its biggest acquisition ever, buying software firm, Figma for $20 billion. Figma will only add $200 million in sales so Adobe is buying them for 100 times sales which sounds very pricey. Shareholders seem to agree.

 

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