Dan Durn, Adobe’s CFO and executive vice president (Adobe)

INSIDER BUYING

Adobe’s CFO is buying the dip — again

Durn’s first buy came in September 2022, just as Adobe’s stock was dropping sharply.

3/26/25 8:52AM

Adobe’s stock has been on a rough ride, with its shares shedding more than 20% over the past year.

The company’s leadership is currently focused on building out its AI-powered offerings, while trying to convince Wall Street that its AI initiatives, in particular its focus on agentic AI, will pay off in the long run for the $174 billion Photoshop giant. And its chief financier is putting his money where his mouth is: according to an SEC filing last week, Adobe CFO Dan Durn just dropped over half a million dollars to scoop up Adobe stock — only the second time he’s made an open-market purchase since joining the company in October 2021.

Adobe’s CFO is buying the stock — Sherwood News

Buy the dip

Durn’s first buy came in September 2022, just as Adobe’s stock was tanking. Shares had cratered ~60% from its pandemic highs, spooked in part by a $20 billion plan to acquire Figma that some investors felt was overpriced. Per the SEC filings, Durn bought $936,358 worth of Adobe stock on September 22, an investment which appreciated nicely over the coming 12 months: shares soared nearly 80% in 2023 after Adobe launched its generative-AI tool Firefly and abandoned the Figma deal in December, owing to regulatory concerns.

Now, Adobe’s back under pressure. Earlier this month, the company’s lackluster Q2 revenue guidance triggered a ~14% drop in a single day, pushing shares toward another major low — and Durn bought it… again.

In a recent Reuters interview, Durn said Adobe expects to double its AI-driven recurring revenue over the next three quarters. Meanwhile, Bank of America analysts reiterated their “buy” rating last week, citing stronger monetization potential from “a broadening set of AI features” rolling out this year.

Durn’s not the only Adobe insider reloading: Director David Ricks (who is Eli Lilly’s CEO) also bought the dip back in 2022 and jumped back in this January, buying ~$1 million worth of Adobe shares on January 28.

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SpaceX spectrum deal sends would-be rivals lower

Shares of struggling satellite services company EchoStar soared Monday, after the company — which had recently tottered close to bankruptcy — announced the sale of some of its wireless spectrum licenses to Tesla CEO Elon Musk’s SpaceX for $17 million.

The sale provides a competitive advantage to Musk’s growing Starlink satellite services business, as the licenses it is acquiring from Echostar allows Starlink to operate ground based broadband and cellphone services, the Wall Street Journal reported.

Entities that stood to be hurt by the emergence of a Musk-led SpaceX Starlink service got hit hard on the news. AST SpaceMobile, which has plans to offer a similar satellite-to-consumer cellular service, tumbled.

So did wireless tower providers like Crown Castle and American Tower. Low cost cellular service provider T-Mobile, which had a deal with SpaceX, also slumped, as Luke noted earlier, along with other large wireless telecommunication services providers.

The wireless telecommunications industry grouping within the S&P 500 was down more than 2.5% shortly after noon, making it the worst performing industry within the S&P 500 on Monday.

SpaceX strikes $17B deal to buy EchoStar's spectrum for Starlink's direct-to-phone service | TechCrunch

The wireless telecommunications industry grouping within the S&P 500 was down more than 2.5% shortly after noon, making it the worst performing industry within the S&P 500 on Monday.

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Hims rises, Novo dips after FDA releases “green list” of GLP-1 raw material suppliers

Hims & Hers rose and Novo Nordisk slipped in early trading after the US Food and Drug Administration released a "green list" of foreign GLP-1 ingredient suppliers that it considers in compliance with agency standards.

Some telehealth companies like Hims sell copycat versions of Novo's and Eli Lilly’s blockbuster weight-loss drugs through compounding pharmacies, which take the active ingredients from FDA-approved medications and make adjusted, or "personalized,” versions of the drug for patients.

Novo and Lilly have fought against this, arguing that it infringes on their intellectual property. They've sued smaller telehealth providers, pharmacies, and clinics in lieu of any action against them from the FDA. Instead, the FDA gave compounders a list of suppliers it deems safe.

Recent developments in the cases filed by the drugmakers so far as well as the FDA's recent actions suggest telehealth companies may be in a less risky position than investors previously thought. As of Monday morning, prediction markets pegged the likelihood of a suit from Novo against Hims at 34%, down from about 70% earlier this month.

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Gold is outperforming the Nasdaq 100 since the launch of ChatGPT

There’s a bull market in anti-humanity.

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UNH rises after saying it plans to reiterate outlook

UnitedHealth rose 2% in early trading after it disclosed that it plans to reiterate its full-year earnings outlook when it meets with investors this week.

The company said on July 29 that it was expects to report annual adjusted earnings per share of at least $16. The company had previously pulled full-year guidance and prior to that withdrawal, had told investors it expected to see earnings of $26 to $26.50 per share.

Currently, a analysts polled by FactSet are penciling in $16.23, compared to $17.21 before the guidance came down.

UnitedHealth has had a tumultuous year as he industry has been hit with rising costs of care, and UnitedHealth specifically has been hit with investigations into its Medicare Advantage practices. It recently got a boost after Warren Buffett's Berkshire Hathaway revealed that it's built a stake in the company