Why These 5 Stocks Are on the Move on Wednesday

3. Adobe Inc. (NASDAQ:ADBE) is off around 3% after Adobe Inc. (NASDAQ:ADBE) reported revenue of $3.94 billion and adjusted earnings of $3.11 per share for the quarter ended September 3. Although that’s better than the consensus estimate of $3.01 per share, Adobe Inc. (NASDAQ:ADBE) has rallied a lot over the last two quarters and expectations may have been even higher.

The number of elite funds that we track that were long Adobe Inc. (NASDAQ:ADBE) fell to 89 in Q2 from 107 in Q1.