Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Friday, March 15th. I'm Julie Morgan.

Adobe is down double digits pre-market after offering up light guidance.

Apple has acquired a Canadian AI startup and W.W. International is raising expectations.

Adobe is down more than 10% pre-market after reporting quarterly results that top estimates, but offered up guidance that was light of

Wall Street's forecast. For the fiscal first quarter which ended on March 1st

Adobe said it earned an adjusted $4.48 per share on 5.18 billion in revenue as digital

media revenue grew 12% year over year to 3.82 billion.

A consensus of analysts were expecting the company to earn $4.38 per share on 5.15 billion in revenue.

Looking ahead, Adobe said it expects to earn between $4.35 and $4.40 per share on an adjusted basis during the fiscal second quarter.

While revenue is forecast to be between 5.25 and 5.3 billion dollars.

Analysts were expecting $4.38 per share and 5.31 billion in revenue.

Adobe also said that its board of directors and 5.31 billion in revenue.

Adobe also said that its Board of Directors have declared a new $25 billion share buyback program.

W. W. International now says it is on track to beat its previously provided Q1 fiscal

2024 guidance for clinic subscribers.

This information was shared with employees in an internal memo from the company's CEO and obtained by

C NBC. It was also released in an 8K filing. In the memo, the CEO told employees that she wanted

to address media reports about the company this week.

She said that the business is healthy and that they're well positioned for the future

as they continue in their transformation.

The stock price has been on a steady decline since the company reported Q4 earnings two weeks ago.

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