Stock Market Update
04-Sep-26 12:00 ET
Adobe adds to software weakness with CEO transition
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[BRIEFING.COM] The major averages continue to trade in a steady range near session lows at midday.
Adobe (ADBE 268.26, -17.50, -6.12%) is sharply lower today after naming its new CEO. Anil Chakravarthy will take the helm on December 1, replacing long-time CEO Shantanu Narayen, who will transition to executive chair to help ensure a smooth transition and support Adobe's ongoing transformation.
The software group is weaker today, with the iShares GS Software (IGV 104.68, -2.27, -2.12%) down 2.1%. Autodesk (ADSK 217.80, -19.72, -8.30%) and Synopsys (SNPS 391.87, -24.44, -5.87%) are among the other notable laggards
