Stocks to Watch: Adobe, Amtech Systems, Ocular Therapeutix
14 December 2023 - 11:07AM
Dow Jones News
By Ben Glickman
Adobe issued fiscal first-quarter and 2024 revenue guidance
below analysts estimates. The software maker also said it could
face significant costs or penalties related to a Federal Trade
Commission investigation into its disclosure and subscription
cancellation practices. Shares fall 5.5% to $590 after-hours.
Amtech Systems warned of weaker demand for its products because
of a continued downturn in the semiconductor industry. The
semiconductor manufacturing equipment maker said it was looking to
cut costs, including by reducing its workforce in areas of its
business, and had entered a forbearance agreement with a lender.
Shares were down 40% to $3.57 after-hours.
Ocular Therapeutix announced a proposed public offering of
stock, the proceeds from which it plans to use to fund the
development of one of its treatment candidates. The company didn't
say how many shares it would sell in the secondary offering. Shares
fall 15% to $3.33 after-hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
December 13, 2023 18:52 ET (23:52 GMT)
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