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Closing Bell

Closing Bell Overtime: Adobe CEO On How AI Is Shifting Its TAM; UPS CEO On Global Green Shoots 3/26/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 26 March 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Stocks tumbled in the final hour of trading today, sending the major averages negative. Wharton Professor Jeremy Siegel breaks down the market action and where things go from here. Jon sits down with Adobe CEO Shantanu Narayen to talk its newest products and how AI is changing how big a market the company can serve. ULL CEO Christian Ulbrich on the company’s global real estate portfolio and the state of commercial real estate. Plus, Morgan talks with UPS CEO Carol Tomé about the global macro picture, inflation and how it plans to win back market share.

Transcript

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0:00.0

Stocks sinking into the close as the S&P 500 falls for the third straight day.

0:07.0

That's a scorecard on Wall Street, but winners stay late.

0:09.5

Welcome to the close about overtime.

0:11.0

I'm John Ford with Wilford Frost.

0:13.4

John, great to be with you. I'm Wilford Frost as John says in for Morgan Braden

0:17.6

health care and financials. The outperformers while utilities, energy and tech

0:22.1

drag the market lower.

0:27.8

Yeah, I am here in Las Vegas where coming up, I'm going to interview Adobe CEO

0:33.2

Shontinun Orion this is Adobe Summit huge event for them of the year especially

0:38.6

given the backdrop of AI being a business driver and the guidance that Adobe just gave here on overtime before the call

0:47.2

about a week and a half ago, Wilf, and they're going to have an analyst day here, an investor day, going to update some figures on

0:56.6

total addressable market.

0:58.1

You're going to have those for you as well.

1:00.3

Talk to Shontinu about them in just a couple minutes.

1:03.0

John, we look forward to that exclusive interview coming up in the next five or ten minutes.

1:07.0

But first let's get reaction to the market which as Scott and Mike were just alluding to,

1:12.0

sold off quite significantly into the close of course comes

1:14.4

off a very hot week last week albeit three days in a row now of declines for the

1:19.3

S&P 500 which closed down 0.3% the Dow is the best performer of the major

1:23.4

average is down just 0.1% today the NASDAQ down 0.4 earlier in the day

1:27.9

we're talking about the prospect of a record closing high for the NASDAQ but in the

1:32.2

end down almost half of 1%.

...

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