Adobe shares rise 3.9% after US producer prices beat forecasts

Adobe Inc. shares rose 3.90% to $250.06 on Thursday, according to a Benzinga article published Oct. 15 that cited Benzinga Pro market data.

The move came as September producer prices rose 1.3% from August, above economists’ 0.5% forecast, in a report Benzinga said added to investor interest in enterprise software.

Benzinga attributed Adobe’s advance to a rotation out of debt-heavy AI-focused companies and into established technology-services businesses. The article said investors may prefer software companies when inflation and borrowing costs look likely to stay elevated, because software growth typically requires less capital-intensive expansion than AI infrastructure.

The producer-price index rose 6.3% over 12 months, above a 5.3% forecast and the steepest annual increase since December 2022, according to the Benzinga article. Excluding food and energy, producer prices rose 0.7% for the month and 5% from a year earlier.

Benzinga said the energy category drove the producer-price surprise. Final-demand goods prices rose 2.6% in September, which the article described as a record one-month gain for a series that began in December 2009, with energy accounting for more than 80% of the increase.

A day earlier, Benzinga said the consumer price index also exceeded expectations, with headline inflation at 3.7% versus economists’ 3.6% forecast. The article did not provide company-specific news from Adobe, analyst commentary or fresh guidance from the software maker.

Adobe has faced Wall Street concern this year over AI-related disruption risk. Atlas360 reported in July that the stock had drawn fresh sell calls from analysts citing that pressure.