Adobe Leads Nasdaq Higher as Lululemon Slumps
Investors have been fickle lately, seemingly reluctant to get too confident while also refusing to be pessimistic for long. After Thursday's huge declines, one might have thought that the Nasdaq Composite (NASDAQINDEX: ^IXIC) might continue to sink into the weekend. Yet Friday was a solid day for the index, which joined the Nasdaq 100 index in rising about 1%.
Even though broad-based macroeconomic and geopolitical concerns have moved markets recently, good old-fashioned earnings results have also had an impact on Nasdaq stocks. Today, shares of Adobe (NASDAQ: ADBE) celebrated solid gains after a good quarter, but high-flying stock lululemon athletica (NASDAQ: LULU) fell back to earth with results that failed to satisfy the high expectations of shareholders.
Shares of Adobe climbed by 5%, reaching new heights. The maker of creative software did extremely well in its fiscal second quarter, posting solid growth despite the challenges of the coronavirus pandemic.
Source Fool.com
