they're all adobe.ou're going to bring on will make it so people who aren't in design schools will go to adobe and not others because they are very accessible. so you've decided i think to make a free part of adobe for people who don't really know how to use even computers. >> well, i have -- and the company has always had a passion for education and the education segment, jim. i used to say growing up that reading, writing and arithmetic were the three skills. you have to add creativity to that particular skill. so ensuring that adobe is focused whether it's a k through 12 student or whether it's the best design school in the world. and making sure that we work with them, we get their feedback, we understand what's on the minds of that next generation creative is really important to us. so we're thrilled with the engagement and the partnership that we have with those schools. but it truly is a passion for us at adobe to make sure that the education segment in particular is both embracing and partnering

shares of adobe are soaring.l intelligence driving new customers to the company. adobe raising its rvevenue guidance for the year. the ceo says the company's approach to a.i. and product delivery is creating more value for users. you raised your price target by about 20 bucks and you're still below the street average. what did you see? how come you're less excited about this than your peers? >> frank, it's proof adobe's report is about expectation. adobe is coming off a couple of tough quarters. stock had been down 23% year-to-date versus the s&p up 14.5. so we feel as if we have been in the right position. expectations in terms of last night were we think they needed to come in in line. they actually did slightly better than that. as you mentioned in your intro, genitive a.i. a focus. although it's early, some of the markets are starting to get traction. i think the story out of adobe is positive signs but against very low expectations and coming in the context of other weaker software reports which i think help

adobe, phenomenal move, 14% higher, best day since 2020.ption of adobe ai products in the earnings. tesla rallies and falls. maybe elon musk will not be jumping ship and doing ai elsewhere anytime soon. we also digest tesla moving to texas for corporate headquarters. the semiconductor company consolidating but then notably having to let go of about 1000 people, off by four percentage points. we want to talk about another key corporate company, still private, one that you might use as well. apple's latest watch announcements came earlier in the wake. here is another company in the space seeing real momentum. we want to bring in the ceo. you have strong numbers. how many people have been buying the rings and who are buying the rings? >> we are proud to announce we have reached 2.5 million sold. we hit that milestone a few days ago. the impact we are having on millions of people's lives is so inspiring for us. it is not just the high end. it is the ceo's and people just getting their first job. it is men and women, old and young. people traini

all eyes on adobe after the bell.nwhile, coming up we're going to be joined by unfewity's c.e.o. we'll talk about the company's own a.i. strategy. this is "bloomberg technology." ♪ her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. i'm gina. i want to talk to you about golo and how it has changed my life and how it can change yours too. like many of you i've been dieting and failing half my life. and each time i would diet i would quit and my weight and health

will nvidia and broadcom and yes, adobe. adobe zoomed up and you can see xlk up 5.5%. no zooming at the moment and tesla shares but ceo elon musk's smile as wide as the length of the gig factories and production line at tesla's annual shareholder meeting yesterday. he announced that the vote on his contested pay package passed with flying colors and made wild prediction including one about the trillions of dollars that his optimist robot could bring in and bradley tusk here to give his take and he is the tusk venture ceo and he's also known as the silicon valley fixer. he gets politics and he gets all kinds of guidance for corporations. he's a guy you want to hear from. he's also made some brilliant investments and early investments from lemonade to draft kings. as hard as kasandras try to prophesy the tech bubble bursting and time for investors sitting on the sidelines to stop fighting the tape and maybe latter in and going on some of the names in the sector and get to the floor show. talk to you about that and joining me w

we've got an earnings alert on adobe. after the company reported a beat on the top and bottom lines. pippa stevens has the latest. >> hey, melissa. expectations were low ahead of the print, thanks to weakness from other software companies. shares down more than 20% year to date. revenue for adobe's experience platform, which is its enterprise product, rose 9% year over year, with the company lifting its full-year guidance. that's helping sentiment, given that adobe has talked about a better second half. now, the call kicked off just a bit ago and a.i. was mentioned almost immediately, with management says it is being natively integrated across all their offerings, saying they are seeing early success monetizing new a.i. technologies across digital media. for much more on the quarter, adobe's ceo will join jim cramer at 6:00 p.m. melissa? >> pippa, thank you. a.i. and monetizing. the magic worlds. up 16%. >> historically -- pre-fed rate hikes, this was a stock that was lower left, upper right, until they reported earnings

today, it's adobe riding that a.i. rally. those shares are surging on quarterly results and guidance that was raised. >>> and of course, we'll stick with tech, why not. apple and microsoft continue to battle it out for the title of most valuable company in the united states. >>> let's begin with musk's pay package being approved by tesla shareholders. jim, it was not close. some 77%. he's got vanguard to thank, it looks like. >> yeah, i also think there was a belief that there would be an existential crisis without musk, that musk certainly could take his bat and ball and go home. the energized musk is very exciting for me. maybe he has something up his sleeve. he tends to have something up his sleeve. i remember that jensen huang continuing to tell me, do not call it a vehicle company. this is autonomous machine. david, an autonomous machine has many uses. vehicle, minimal uses. >> yes, autonomy has many uses, and he believes will add to an enormous amount of market cap and shareholder value. >> yes. >> obviously, we're talk

in a statement, adobe defended their subscribtion service, saying it was cost effective and flexible.ftc�*s claims in court. sticking with the us — shares of gamestop slid on wall street, down 12%, after the american video game retailer failed to provide updates about the company's future strategy. the stock surged last month, following the return of an investor, known as "roaring kitty". he was credited for 2021's rally in meme stocks, where retail investors drove massive gains in gamestop and other struggling firms, contrary to the bets of many professionals. michele schneider from marketgauge explained why this time round the meme—stock frenzy was a little different. we certainly saw the disappointment for their shareholders when they had sold off about up to 12% today, but essentially what is really historic here is that a meme stock that really had trouble, in terms of their business plan being profitable, their last earnings were dismal, raised 4 billion in cash, and so of course it would be a disappointing outcome when they didn't have any kind of clear outline of what they wer

in a statement, adobe defended their subscribtion service, saying it was cost effective and flexible.efute the ftc�*s claims in court. tesla is suing its former battery supplier for allegedly stealing trade secrets related to its battery manufacturing process and selling it to its rivals. according to court filings the electric car maker is seeking damages worth over $1 billion. matthews international dismissed the claim, saying in a statement they will vigorously defend the matter. sticking with the us — shares of gamestop slid on wall street, down 12%, after the american video game retailer failed to provide updates about the company's future strategy. the stock surged last month, following the return of an investor, known as "roaring kitty". he was credited for 2021's rally in meme stocks, where retail investors drove massive gains in gamestop and other struggling firms, contrary to the bets of many professionals. michele schneider from marketgauge explained why this time round the meme—stock frenzy was a little different. we certainly saw the disappointment for their shareholders

that stock is way up this morning strong profit strong revenue positive outlook, adobe says its customers are using the a.i. tools in the stock is up 15%, the yield on the ten year treasury very important number but it was below 420 now it's bounced back up for 21 down slightly the two-year yields 6.8%, bitcoin $66000 as we speak, oil, i won't say until you sit on the screen, $70 a barrel asked 346 for regular that is up 1 cent, diesel 378 down one set. on the show elon musk gets his big pay package at the shareholders meeting he was ecstatic he said the move to autonomous driving technology was accelerating and tesla shipping 1300 cyber checks a week, we will show you the new softer gently donald trump that may be an exaggeration but he toned down his nastiness is the reversal biden is the angry old man and trump is making friends of his enemies, how about that friday june 14, 2024, "varney & company" is about to begin ♪ ♪. stuart: the wanderer by dion were talking about president biden wandering off. also mom saul dion on a cruise and said he hasn't aged well. we'll get to you shortly,

pippa, adobe after the close. >> there's pretty muted expectations going into adobe's print after theue guidance back in march underwomened the street. adobe isn't entirely enterprise focused, but after those weak work days and salesforce's quarters, investors will be watching adone yoois experience segment which is about 25% of total revenue. updates around ai also really important with oppenheimer saying that opinions have suggested from adobe as an ai winner to fears about competition with ai. on the flip side, mnksorgan stay saying ramping comps could be a clearing event for very weak investor acceptsentiment. and those shares are down about 23% this year. >> we were just talking about the way investors are looking, you know, pretty dimly, on software in this ai world, pippa. we'll see how those numbers come through. all right. as we head into the close, one minute left, we are on track for new records for the s&p 500 and the nasdaq. the s&p up about one third of 1%. owing a lot to nvidia and broadcom. together, they are more than accounting for the entire gain in the s&p 500 with

sonali: we have adobe earnings tomorrow as well.etween broadcom and adobe? jon: when we have this freight train that is ai, it's helpful to look at which businesses are benefiting and which are leaning into it and which are caught in between. it feels like adobe might be an example of that. does this company see a huge ai opportunity? do they want to add on to their lucrative subscriber business by having more ai tools? but there is this growing dialogue that if you are a traditional adobe user, are there more ai tools that will do the work that has been done by adobe in the past whether it's openai or other players like canva. that will be a key theme to watch into tomorrow. like broadcom, a huge stock winner as we serve recently with the reaction of salesforce. when you transition to ai, things can be complicated in the short term. sonali: thank you so much for the analysis. coming up next, kate anderson ceo talks about his outlook on our terms of investing as we watch the interest rate environment change right before us. stick wi

. >> i have adobe tonight. a lot of people feel the contest is not canva versus adobe.f nvidia products, why could you need adobe why do you need salesforce why do you need workday. i think adobe is the gold standard i think this stuff is unbelievable but i'm giving you the wrap, which is that if nvidia is worth all those companies, you add them all up, you get to a level that comes to another trillion. >> steve eisman on "squawk" talking if hardware eats software in a sense. >> that was a great analysis software had a run since 2010. and now this is my wrap. i've been antienterprise software. >> you have. yes, i've been listening. >> you have? >> i have. you've been talking about the challenges that has and to carl's point, this idea that hardware is going to -- is going to supplant it in some ways. >> did you listen at all to gtc? a lot of software. >> they do training. the training -- you hear, it is like there is -- >> buying more than the chips. >> right yes. there is this moment when ellison just said, how much is he worth again >> 140 billion. >> he knows more th

adobe defended its business practices in a statement. the terms and conditions of subscription agreements, and that the cancellation process is simple. >> wealthy taxpayers may be losing a major tax loophole. the irs is ending partnership basis shifting, which involves a business or person moving assets among a series of related parties to avoid paying taxes. the biden administration says there are no economic grounds for the transactions, and closing the loophole could raise $50 billion. the irs also plans to raise audit rates on companies with assets above $250 million next year, and will also increase scrutiny of large, complex partnerships worth more than $10 billion. >> still ahead tonight, paying homage to the legend of the game , my father used to roll a ball on the floor to me and i would try and hit, you know, the ball with it, you know, kind of broom handle and different things like that. >> willie mays reflects on his time before the giants as major league baseball prepares to honor him and the leagues. >> and we're looking in

well, hit and termination fees have landed san jose based adobe in some hot water. federal trade commission announced today that the software company is responsible for, quote, deceiving consumers trying to cancel their subscription. a complaint was filed in federal court. it says it costs hundreds of dollars to terminate your policy, and that the company creates other hurdles to make it difficult to leave the service. it alleges that adobe was aware of the cancellation confusion, but continued to obscure its policy and fees. look at this. we're actually not the only ones dealing with the wildfire right now. fire crews in southern california are battling flames to the north of la. we're going to show you why it's proving to be a very difficult fight out there. also, should the summer olympics actually be held in the summer? i know, sounds crazy to ask that question, but our chaky climate change has fueled our ev hotter summers. but before we head to break, we want to know what trending story would you like to see later on in this newscast? i will pull up right now o

liz: adobe is in a unique product space and it's out there and will it translate to a bigger way to the bottom line? that's the issue, tim? >> certainly and i think with adobe in particular, the question is will general ai accelerate and augment human creativity or supersede it? adobe has shown certainly seems like it'll accelerate and augment that human creativity element and the company had fantastic run long term. liz: thank you, tim. boy, looks like nvidia is at a record high here. we shall see. tomorrow we have a great panel lineup. larry: hello, folks. welcome to kudlow, i'm larry kudlow. jury selection underway in the federal gun case against hunter biden. david, what do you got? reporter: david, jury selection began with 250 people and goal is to weed it will down to 12 jurors and four alternates and right now they have a jury pool of only 36 people and will continue to move down there. everyone on the jury is pretty much aware of this case and has some sort of knowledge of the biden family hunter charged with three tellny counts of lying on a gun form in 2018 claiming he was no

at the close adobe. we've had a highly unusual situation as the stock is down 22% going into the quarter. this is an amazing company. i think they have a problem. that is competition from a design tool company and tried to buy. adobe needs to protect price points against it. they are taking share because it is so much less expensive. i know adobe is so much more than just this one product line but the competition is what controls the narrative. it shouldn't. i say never count out adobe. >>> we see results from our age. last one seemed like a breakout. but the stocks shot up huge but came down hard almost immediately. what will it take for rh to get out of this rut ? we know that it is related to housing turnover. we do not have much in this country. probably the least we've ever had. my prediction, there will not be much upside for rh until the housing turnover increases. the firm will host a fireside chat. this by now pay later company i think is doing incredibly well but it has not matter to the stock

it's been about six months since that deal fell through with adobe. it was funneled by regulators.akeaway? and i wonder, would you be willing to go through with another -- maybe the right deal if a different set of regulators were in place? >> well, i think we're very fortunate because, looking back at an entire period of the acquisition, we kept our foot on the gas. and that's why we're able to, six months afterwards -- like this and announce a ton of stuff on the stage, not just our a.i. features, tons of improvements and also a whole new slide product. and the reason we're able to do that is we kept our foot on the gas. we kept accelerating through that acquisition process. >> you even had a billion dollar breakout fee. is the ipo is eventual goal? >> there's two paths in tech, either m&a or ipo, and we tried one of those. you can probably guess what the other one is that will be in our future. >> okay. >> but i think that right now it's all about an independent company, how we build for our audience, which is people building products. >> today is a great indication you guys hav

adobe has shown certainly seems like it'll accelerate and augment that human creativity element and thea is at a record high here. we shall see. tomorrow we have a great panel lineup. larry: hello, folks. welcome to kudlow, i'm larry kudlow

the federal trade commission is suing adobe. >> saying it traps users.e company of making the cancellation process too difficult on purpose. the agency says that people aren't told about cancellation fees up front and when they call customer service trying to get help cancel the call was dropped. adobe makes products like photoshop. they offer bundled creative sweets. and that's at the center of the lawsuit. adobe denies the allegations. >> 7.24 the time and community leaders in oakland are going to holding a press conference and rally today asking mayor sheng thao to keep funding to tackle illegal dumping. that's in the new budget. faith in action. east bay also known as if a iep imposes or opposes, i should say the elimination of the bulky block party program, which allows residents to drop off large trash items for free waih month. the group says illegal dumping disproportionately impacts black and brown neighborhoods. the rally is set for today at city hall at 12, 15 this afternoon. also happening today, san francisco transit officials plan to vote o

>> things like photoshop, adobe end design.bout them versus canva, versus -- a bunch of folks that are trying to eat at the heels of adobe, trying for a very long time now. >> yeah. that's right. we were actually just out at the canva flagship conference a couple months ago. the company has a lot of momentum. thinking about adobe, a company that's historically had a monopoly on this market and for the first time addressing this. released a number of new products over the last few months and years. so it's not like they're asleep at the wheel. our view is as these image modelsmodel modelis, language model come out, we're worried that -- >> how much of these products become oddly commoditized? photoshop always a unique product offering. you know, now look at new apple product that, the new ios, in terms what you can do with a photo on your own, you know. adding people. taking people out of the photo. filling in the background. all things used to be things you could only do in a product like photoshop? >> yeah. absolutely right. s

that will open up the market what adobe can do, hot customer share is. the stock has significantly underperformed but their last earnings report was blowout. the stock still down pretty much significantly on the year. so i think if you've been out of adobe, you're looking for a entry point, i think this is good one overlooked by the market. cheryl: last word, you mentioned content, you like netflix. it does seem in the streaming wars netflix is really becoming the winner here. >> netflix is an absolute beast. now they have live sports. the thing about live sports that will put in advertising. advertising is something a small part of revenue that i think will become a much larger part of revenue. netflix, next 12 months sees $800 a share. cheryl: interesting. i happen to even that one. i didn't buy nvidia but i you bought netflix. quickly as we go, got to tell you, rob, united airlines have a great app. just try it. you get stuck somewhere, united airlines is your friend. >> thanks, cheryl. cheryl: rob luna, thanks for being here. we have a lot more comin

government is suing adobe, alleging that adobe "hides expensive fees in the fine print," and when customer actually try to cancel, the department of justice alleges adobe forces customers to go through a complicated cancellation process and ambushes them with a termination fee. adobe replied and said they are transparent with the terms and conditions of their subscription agreements and have a simple cancellation process. they plan to refute these claims in court and that's why shares are down almost 1%. >>> best buy getting a bullish boost from ubs, a new price target from them at $106 a share. that's still higher than the $91.47 trading right now. they suggest this company is a buy because of restructuring efforts and the new product cycle. that's why shares did hit a 52-week high. >> kristina, thank you very much. >>> we are just getting started here. up next, big opportunities in alternatives. goldman-sachs's kristin olson is revealing her best bets for diversifying your portfolio. we are live from the new york stock exchange. you're watching "closing bell" on cnbc. dow up 200. s&p on

. >>> plus, san jose's adobe under fire and facing a federal lawsuit. say no? >>> live look outside on this tuesday mo >>> there is a wrap. basketball season is officially over and bay area fans probably yeah, you are not too happy with this outcome. the boston celtics have won their 18th nba finals. they dominated the dallas mavericks in game five 106-88 was the final. in a surprising turn shooting guard jaylen brown was named the finals mvp. now the former golden bear averaged just under 21 points and five assists a game. fans took to the streets to celebrate the team's win after the game and look at this guy right here. you see him? he's a fan climbing up that traffic light. this just is outside the td garden area. and it's been 16 years since they won the finals. before this victory, boston and the lakers were tied for the most championships in nba history at 18 apiece. >>> now to the nhl and the sharks. lots of big things happening on the san jose ice. we'll be getting the number one pick in the next week's league draft. and yesterday, they formall

the federal trade commission is suing adobe for trapping users. they are accusing the san jose based ioftware company of making the cancellation process too difficult on purpose. they say that people aren't told about cancellation fees up front and they have their calls dropped when calling customer service. adobe makes products like photoshop. and they offer a bundle of a creative suite. and that's at the center of this lawsuit. adobe denies the allegations. >> we're going to take a break here at 6.26. but coming up next on the kron, 4 morning news state democrats moving forward with controversial amendments to cancel bipartisan bills aimed at bipartisan bills aimed at tackling retail theft. why one ♪ (ominous music) ♪ ♪ (ominous music) ♪ girl: sydney, what's up? sydney: nothing. girl: are you ok? ♪ (ominous music) ♪ girl: talk to me. just shut up! nicotine's a neurotoxin that can escalate teen irritability. (♪♪) ♪ ♪ california sky ♪ ♪ todos alcanzamos las estrellas ♪ ♪ sunny state of mind ♪ ♪ flexin' all the time ♪ ♪ todo es dorado ♪ ♪ y nos gus

i'm rob nesbitt kron. 4 news. >> a new lawsuit claims san jose bay software company adobe trapped itsomers by making it difficult for them to cancel their subscriptions. the lawsuit filed by the federal trade commission says customers were not told about cancellation fees up front and when people tried to call with complaints, the calls were often dropped. adobe has denied the allegations. >> starting next monday you can trade in your old car for 1500 bucks. the bay area. air quality management district is offering the trade in after to improve local air quality. they say older cars pollute a much higher rate than newer ones to be eligible, though, your car's got to be from 1998, or older. >> tomorrow is juneteenth a federal holiday commemorates the emancipation of enslaved people in the united states. the oakland museum will be celebrating with a cookout. one of the organizers says everyone is welcome. >> oakland garden will be fully taken over with a town wide celebration of freedom. we're celebrating juneteenth >> with a cookout, a is giving us the vibes of a quintessential black >

. >>> the doj is suing adobe.will refute the case in court. >>> the mlb had the best-attended weekend since 2008. "early today" will be right back. e right back. not your family. zevo is made with essential oils which attack bugs' biological systems. it wipes cleanly, plus is safe for use around people and pets. gotcha. zevo. people-friendly. bug-deadly. try killing bugs the worry-free way. not the other way. zevo traps use light to attract and trap flying insects with no odor and no mess . they were continuously, so you don't have to. zevo. people-friendly. bug-deadly. skincare can start in the laundry room. that's why i always recommend all free clear for sensitive skin. it's free of dyes and perfumes. it's a key part of my self care routine. it's a clean that's gentle on my skin. for an effective clean that's gentle on skin, all you need is all free clear™ sometimes jonah wrestles with falling asleep... ...so he takes zzzquil. the world's #1 sleep aid brand. and wakes up feeling like himself. get the rest to be

let's move on to a look at what is happening with adobe.%, having been trading higher -- well, down earlier but still off. the f.t.c. is taking action against the software maker apparently for deceiving consumers by hiding early termination fees and making it difficult to cancel your subscription. the f.t.c. just releasing that action. some stellar results last week that pushed the stock up 10%. but let's turn to another corporate story because we have all been thinking about how a.i. is affecting microsoft, well ahead of apple, but now not so much the case. ever since apple unveiled its own a.i., the i-phone, suddenly it feels like the lead isn't so much anymore. you wrote about your personal feelings of whether microsoft has slipped here. what is your takeaway from apple? why do you think they've got it right? >> i am an i-phone user and windows user. i have been using the a.i. that's come with windows for a little over a year now. microsoft had this big lead, but apple launched or announced these a.i. features last week from easier ways

adobe will be a regular house dog now. >>> if you are a dog owner you have probably seen your dog go from deep sleep to circles. how science explains the zoomies. >>> okay, two of the three of us, current dog owners. former family dog owner. >> family dog owner. yeah. >> if you are a dog owner, you are probably familiar with the zoomies. if not, you have seen it when your dog suddenly goes into turbo mode and starts sprinting. >> it's the most fun thing ever. >> they seem random to us. but, i think if you think about what's going on in your dog's head, what they have encountered during that day, it might make a little more sense they need to blow off some steam. >> there is actually some science behind what this is and what it could mean given that several of us have had dogs tearing through our house at some point, we would like to know. some vets say there are good zoomies and bad ones. >> usually, if they are really loose and wiggly and carefree, that is a happy zoomy. if their ears are pinned back, if their eyes are really wide and worried looking, or if their body seems tense. >

the federal trade commission, accusing san jose software maker adobe of deceiving customers in a newsuit. the ftc claiming the maker of acrobat photoshopped and other popular editing tools pushes customers towards prices. subscription plans while hiding early termination fees. adobe says it is transparent with the terms and conditions of its subscription plans, adding the company will dispute the allegations in court. rising from the ashes, the latest on the pittsburgh theater companies returned to the stage after years worth of prop sets nothing dims my light like a migraine. with nurtec odt, i found relief. the only migraine medication that helps treat and prevent, all in one. to those with migraine, i see you. for the acute treatment of migraine with or without aura and the preventive treatment of episodic migraine in adults. don't take if allergic to nurtec odt. allergic reactions can occur, even days after using. most common side effects were nausea, indigestion, and stomach pain. it's time we all shine. talk to a healthcare provider about nurtec odt from pfizer. hello over in p

you can see adobe road and the fires there in the distance. we've seen some winds toward petaluma about to 10 miles an hour. some of those winds maybe gusting to 20 or so. but that general sea breeze kicking in around the bay area right now. and that's where see in the afternoon hours the same time we do have some fog that has crept back on shore. looking down from our mount sutro cam. you can see some low clouds moving inside the bay right now, although kind of a thin deck out there. and that means, well, we're going to see the heat around the bay area tomorrow. probably going to be the warmest day of the week. still onshore wind is kicking in right now. do its work, bringing the clouds coast side and cool down the temperatures. there are many of the interior valleys, though, still on the very warm side outside. so what a nice evening. if you want to get out there and enjoy a nice evening outside. this is one of those nights to do it probably see that again tomorrow afternoon along the coastline. not so much a bundle up. you've got numbers in

. >> also why the ftc is accusing adobe of trapping users. apple says it will discontinue its pay later service. the service allowed customers to make purchases for products by taking out a pay later loan that would be paid back in for interest-free installments over 6 weeks. the move comes a year after rolling out this payment method. apple says its loans will give customers more flexibility and more locations with apple pay enabled lenders. they say this will offer consumers access to installment loans through credit and debit cards and through lenders when they check out using apple pay. >> some disneyland annual passholders will soon get a share of a 9 and a half million dollar settlement of a class action lawsuit. the park was accused of misleading and deceiving guests pie restricting reservations for certain passholders who had been promised no blackout dates. the settlement includes anyone who bought a disneyland dream key between august 25th and october, 25th of 2021. don't get too excited. you won't be making a fortune. each person w

government is suing the software giant adobe for a number of alleged violations.yes, well the u.s. federal trade commission is suing adobe and the one that makes photo shop for heat and fees on what it calls absurdly hard to cancel subscriptions and alleges the software company violates customer rights and consumer protection laws by making it too difficult to cancel and trapping customers. now, the ftc said they failed to disclose these terms clearly to customers. adobe disputes these claims and say it will fight the lawsuit. >> we can all relate to having challenges of unsubscribing to various subscriptions. >>> next up here russian president vladimir putin pays a visit to vietnam in an effort to strengthen his ties in southeast asia. we'll have the latest on that as well as the deal he signed with north korean leader kim jong-un. "way too early" will be right back. r kim jong-un. "way too early" will be right back i thought i was sleeping ok... but i was waking up so tired. then i tried new zzzquil sleep nasal strips. their four—point lift design opens my nose

adobe is projecting strong sales, which suggests customers are adopting their new ai tools.e concerns about generative ai cutting into the market, but analysts say better—than—expected earnings show the company's ai efforts are gaining support among customers. the global demand for al is causing a big increase in the use of energy hungry data centres. can tech giants, who are at the forefront of the ai race, be doing more to mitigate their environmental impact? my colleague aaron heslehurst sat down with the head of data & ai at computer and software giant ibm. we have data centres all across the world and what i will tell you is that the way in which we build these data centres, we really look for that sustainability from the beginning, 74% of all of the energy that our data centres consume, come from renewable sources of energy. which is something that we put sustainability at the heart of what we do and how we build out these data centres. one of your competitors, microsoft, it's been quite transparent about how much its emissions have increased because of the huge demand

the federal trade commission is suing adobe for trapping users. they are accusing the san jose based software company of making the cancellation process too difficult on purpose. the agency says people are not told about cancollation fees up front and have their calls dropped when calling customer service. adobe makes products such as photoshop and offers a bundled creative suite, which is the center of the lawsuit. adobe denies the allegations. all right. coming up, we're going to catch up on all things. san francisco mayor london breed is going to join us live here in studio. >> plus, businesses and workers rights groups have reached a deal over a controversial labor law. why lawmakers want to take this off the ballot. and there's also a major health concern for homeless people in the for homeless people in the south bay. ♪ (ominous music) ♪ come on. what can i do to help you? dad: come on buddy. headphones. what! dad: hey! dad: ok all right. what do you wanna do? i said i don't wanna talk about it! dad: trey! what are you doin'? ♪ (ominous musi

adobe is projecting strong sales which suggests customers are adopting the new ai tools. concerns about generative ai cutting into the market but analyst say better—than—expected earnings show the companies ai efforts are gaining support among customers. microsoft plans to evaluate contributions made by employees on side of security and include them in to packages. they tried to adjust concerns of the protecting client data. grant smith perry at a hearing on the security actresses. mike's doctors at% of two major hacking campaigns allegedly carried out by chinese and russian spies. the gobbled amount for our is causing a "in the use of energy hungry data centres. can tech giants, who are at the forefront of the ai race, be doing more to mitigate their environmental impact? my colleague aaron heslehurst sat down with the head of data & ai at computer and software giant ibm. we have data centres all across the world and what i will tell you is that the way in which we build these data centres, we really look for that sustainability from the beginning, 74% of all of the ener

if you can, if you can plug the movie on mobile, adobe like good. we go. yeah, we don't know how to when your other line navigate good by young to a good thing about a top. i don't love over how why lie may, 9th, and us lou, seeing a little bit off overall look at the time with i know full control over time trying to find you my how do we have him come to a beat know, tighten mode whole. we know that been done before the motor knew by of the sound you pay now now. oh wow. wow. wow. you can take and help it out. yeah, yeah. okay. so would you right now, joe? yeah. okay. what code of people to go back to uh, 58 more time now just come okay, now how the paper but the come pay? no who no, no choice. what does i don't we do it here. we get what they do. do that way. go now going to move them into in a grand total of what was going back to the to the man then they don't want me to change on the young baby they let me know when they get done a new way to do you know what a talk about 40 people from paying my lot longer a long can you be able to come to the go? th

and adobe shares are lower this morning. u.s.hop and acrobat, accusing the company of making it difficult to cancel subscriptions. the doj said adobe hid details of an expensive cancellation from consumers in fine print. ad adobe's general counsel said, we are transparent with the terms and conditions of our subscription agreement and have a simple cancellation process. somebody's not being total truthful here. >> difference of opinion. i suppose. >>> let's check out the futures. they are still in the green, not by a lot, but you've got the dow indicated up by about five points. same story for the s&p 500. the nasdaq looks like it would open up by about 45 points. treasury market is showing slightly higher yields, but well below the highs we've seen in recent weeks. the ten-year is at 429, the two-year at 4.77. let's get over to dom chu with a look at this morning's pre-market movers. >> we'll start things off with a check on dow component, merck, which is higher by nearly 1.5% right now, just around 5,000 shares of pre-market tr

it's a downgrade of adobe. adobe does have a terrific suite, but the suite is expensive.an, but that doesn't matter. that piece fundamentally says enterprise software was great from 2010 until now. look out, this is the way software is going to be made because this obviates the need for all that enterprise software, which has been what wall street has lived off of, because that's where the ipos are. he says, look out, be careful. >> especially the subscription model, which based on seed count, it's going to matter more about what your outcomes are. he says, look for continued pressure in workday and salesforce and snow, which he doesn't cover. >> no, and i discussed with jeff marks today, look, salesforce has been a core holding of ours since we basically started the trust, and i respect ben's work enough to be able to rethink how long will it be, can salesforce pivot? the problem is he's using, again, we've got these people who have cyclical. we have people who just say, tactical. and then we have existential, and this is an existential threat, and i think that jensen wo

of the island navigate news of the distribution. product means that as soon as you know up up the adobe or voice colony health, we need to call you about total cost with us on the policy manual. thomas scott goes to scott: your best travel and echo the city to my uh, bill. uh for the 1st uh pause and for coastal subdivided since bridge. oh wow. was a are me both today will be glad to a fuss enable it. they want 0 stories. that's it. the 10, but you also saw usually there was a bubble to that. yeah. he can not get added to, to the site. you know, she's up to for very careful i need versus a view to be nosy. so both your but i yeah, the those that email out of the service that goes to sit down. what is the 24 hours just to feel yet that it's gonna be very popular to be boxed for the tools they need to delete object just for you called audio. next, i'll ship your bill. they'll forgot to ask for them to scottsdale, the dougherty, the level. just to make that a good, they'll double on just to be, i mean, to raise the 50 on the group . what does she should have gotten this research that alrea

but top 2 or top box that you all day the top box, la laboratory, smoke, diabolic adobe josh. because it was interesting to yeah, well, there's something that's up to a little bush for the, the the gosh. and subjects . is that the ability to see by 2 sides of the a blessed a from soldiers. so what clearly america will core tie group plus here of the corporate office here in front of the powers that the world really rock throughout the a for a sure i get it wrapped up very cool rather than the module but story itself quite a lot. fear a promo where it's great to poke holes truck. is there guys that are all the that the amount would be you know, people that bought the boat in for a month to start them and want to move them theater them there. so is there a car for you so that all that made it through my on the some of their own also in the midst of the most part, the drawing room bone board drip fall on i agree guards are the ones that are all on the bottom the power just from home from was nice for result, dot dot across the all the thread b for a protocol for them to sit this

all our winners s&p 500, old dominion, uber technology back on the list, norwegian cruise line and adobes down that's helping transportation, nasdaq composite, old dominion, freight line. what is that. i'll look it up. >> i looked it up and i forget. google is a very fast thing a developer data platform. >> i don't how to pronounce it either, still ahead deroy murdock on the trump trial does he think trump will serve time in a jail cell, brian kilmeade saying he never downplayed the lab leak theory, pete hegseth on the school di trainer saying the american flag is becoming a hate symbol in house oversight chair james comer says congress could recommend arresting dr. fauci. how about that, the 10:00 o'clock hour is next. ♪ shame. it's been here as long as i can remember. living in glances of people i loved. .. but what good is shame when it comes to health? health is not about what weight we lose. it's about all of the things a body can gain. (♪) my parents worked hard for everything we had. they taught me the value of a dollar, and how to use it wisely. those lessons are forever, and tod

adobe and broadcom and tesla lifting the s&p. futures pointing to up .3% but there's been a diverging picture. ftse 100 futures showing gains of .3%. the s&p looking to gain modestly. nasdaq futures higher but .2% that higher by .2% -- higher by .2%. you have further evidence that inflation is starting to cool in the u.s. that is playing into expectations that the fed can go at least once this year with a cut, with producer prices following the most in seven months. the u.s. 10-year at 4.26%, below 4.30%. the japanese yen under pressure, down .6% on less than hawkish comments coming from the boj. brent trading lower in the session. let's cross over to asia. avril hong standing by in singapore. april? avril: yeah. the focus is on the japanese currency as we wait to hear what the governor has to say. after april, in his presser, his comments managed to send the japanese yen levels that prompted intervention. it was an expensive exercise. $50 billion from the finance ministry of japan to support the yen. this is at stake as we look

regulators are suing adobe over sub scscription plans for company's products.wo executives were riding the termination fee for the subscription plan and making it too difficult to cancel subscriptions. adobe is transparent with the terms and conditions and has a simple cancellation process. >>> berkshire hathaway raising the stake in occidental petroleum bringing the stake in the oil producer to 29%. buffett has said he has no plans to acquire occidental. >>> outgoing ceo dave tcalhoun will be in the hot seat today testifying before the senate following whistleblower allegations after the january door plug blowout. calhoun will tell lawmakers his company's culture is far from perfect, but he is taking action and making progress. frank. >> silvana, thank you very much. we will have phil lebeau coming up to talk more about this. >>> turning attention to the raise to the white house. voters in georgia and virginia will have their say as the battleground states hold the primary contest today. democrats doing the same with president biden two months from now. virgin

>> was the adobe scare for real? this last few weeks, questioning the model?e heading into -- i think there's definitely unknowns and i think for a lot of the big software companies, you look at adobe and oracle and microsoft, they're going to have to adjust, pivot, but when i look at adobe, you saw some air pockets and then saw strength. i think we're going to continue to see some of these ups and downs. many salesforce.com look at that air pocket. i view that as an air pocket and benioff will monetize that install base. that's why install base is important. many skeptics valuation. as i say many are trying to find this ai revolution in the tenth floor of the new york city office building or in their spread sheets. you got to see it around the world, that's what we do. >> you are a road warrior, i will give you that, dan. it's good to have you. thank you as always. dan ives. >>> up next, check out this mystery chart outperforming over the last couple years but hitting correction territory. it's down 10% from a recent high. is it a buying opportunity. we'll te

setting another record close as names like adobe and broadcom rally.eet, welcome to "closing bell overtime." i'm jon fortt. morgan brennan is off today. >>> coming up on today's show, are more cracks forming in the consumer story? sentiment missing after rh plunged on results. we'll talk to an ex personality about the disconnect he sees between what the market is saying and what consumers are saying.

this is adobe. he has been keeping fans safe for six years.o thank him, his co-workers surprised him with a jersey, a tennis ball and a cake what is next? he will become a normal house dog looking forward to hide any sock he can get ahold of, belly rubs, treats. lots of attention. good job. happy a slow network is no network for business. that's why more choose comcast business. and now, we're introducing ultimate speed for business —our fastest plans yet. we're up to 12 times faster than verizon, at&t, and t-mobile. and existing customers could even get up to triple the speeds... at no additional cost. it's ultimate speed for ultimate business. don't miss out on our fastest speed plans yet! switch to comcast business and get started for $49.99 a month. plus, ask how to get up to an $800 prepaid card. call today! announcer: it's time to play "family feud"! give it up for steve harvey! [cheering and applause] steve: come on, girls. welcome to the show. good. how y'all? i appreciate that. thank y'all. thank you, everybody. i do. i appreciate tha

that move adding a whopping $215 billion to its market cap, that is more than one entire adobe for this now just $40 billion away from reclaiming most valuable company title from microsoft, a position it ceded backin january. apple was the top performer in the s&p, dow, and nasdaq 100. so, what changed for apple in just the past 24 hours? it was just 24 hours ago, guy, that we were all sitting here around the desk, lamenting how boring the deal was. >> look, i think that, i guess the market had a chance to digest certain things, you know, gene munster yesterday put out a very compelling case and then on twitter an hour or so ago said the crazy part of the factors driving apple shares today are just getting started. and maybe he's spot on. he's been spot on. i'll say this, though, i think the upgrade cycle was in place all along. i'm still not convinced this will add to it, however, the market seems to be maybe on the services side it gives them the kicker where you get services revenue closer to 30%, which helps their valuation. i get that. but i'll say again, yesterday made sense to me