Sponsored by
Today is Friday, March 13, 2026.
The Early Bird Index today is 73.56.
New to this newsletter? Sign up here
Adobe's CEO Succession Plan
Despite posting good financial earnings results on Thursday, Adobe $ADBE ( ▼ 1.43% ) fell 7.80% in after-hours trading due to news involving the company’s CEO.
Financials: Adobe reported earnings of $6.06 per share in the past quarter and revenue of $6.4 billion. Both were better than expected.
Details: The company achieved record cash flow for Q1. And AI-first ARR more than tripled year-over-year.
Powering the Story: Adobe announced on Thursday that CEO Shantanu Narayen, who has led the company for the past 18 years, is stepping down once the company finds a replacement. The news worried investors, because it means the company’s succession plan is a work in progress.
Early Bird’s Nest Egg Gains: Adobe may struggle to find a new CEO because the role is unusually high‑stakes right now: it combines running a massive, mature franchise with executing a risky AI pivot amid recent strategic missteps and regulatory scars.
There’s investor anxiety about strategy and execution in AI and digital experience.
Final Thoughts: Adobe is up over 500% since Narayen became CEO 18 years ago.
Is Your Retirement Plan Built to Last?
Most people saving for retirement have a number in mind. Fewer have a plan for turning that number into actual income.
The Definitive Guide to Retirement Income walks you through the questions that matter: what things will cost, where the money comes from, and how to keep your portfolio aligned with your long-term goals.
If you have $1,000,000 or more saved, download your free guide and start building a retirement income plan that holds up.
Notables
Notable Earnings Today: Acurx Pharmaceuticals (Nasdaq: ACXP), Better Home & Finance Holding (Nasdaq: BETR), Buckle (NYSE: BKE), Century Casinos (Nasdaq: CNTY), Creative Realities (Nasdaq: CREX), Eve Holding (NYSE: EVEX), VEON (Nasdaq: VEON).
Notable IPOs Today: X3 Acquisition Corp. Ltd. Class A Ordinary Shares (Nasdaq: XCBE).
Notable Equity Crowdfunding Campaigns Ending Today: N/A.
Notable Economic Events Today: GDP (8:30 a.m. ET), Core PCE Price Index (8:30 a.m. ET), Durable Goods Orders (8:30 a.m. ET), Personal Spending (8:30 a.m. ET), JOLTS Job Openings (10:00 a.m. ET), Michigan Consumer Expectations / Sentiment (10:00 a.m. ET).
Ulta Beauty's Gross Profit
Ulta Beauty $ULTA ( ▼ 4.28% ) fell 8.44% in after-hours trading on Thursday after posting mixed financial earnings results.
Financials: Ulta Beauty reported earnings of $8.01 per share in the past quarter, which were lower than expected. Revenue reached $3.9 billion, which was better than expected.
Powering the Story: As a percentage of net sales, gross profit decreased from 38.2% to 38.1%.
Also: Ulta Beauty’s full-year earnings outlook of $28.05 to $28.55 per share was lower than expected.
Final Thoughts: The stock has been flat in early 2026 and has faced some headwinds.
Lennar Posts Bad Results
Bad financial earnings results caused shares of Lennar $LEN ( ▼ 4.17% ) to fall 1.11% in after-hours trading on Thursday.
Financials: Lennar reported earnings of 93 cents per share in the past quarter and revenue of $6.6 billion. Both were lower than expected.
Final Thoughts: Lennar’s stock was already off to a bad start this year with an 11% decline.
Trends to Watch
A Modest Gain: Bitcoin Is Rising While Bonds and Stocks Struggle—Here's Why (Decrypt)
Big First Day: BlackRock’s staked Ethereum ETF sees $15.5M volume on debut (Cointelegraph)
Longer-Lasting Upheaval: Oil Markets Brace for Lasting Turmoil in the Gulf (Wall Street Journal)
Climbing Again: Mortgage Rates Rise as Iran War Ripples Through Financial Markets (New York Times)
This Could Backfire: Federal Reserve to loosen capital requirements for big US banks (Financial Times)
Thank you for reading!
Forward to a friend and tell them to sign up here.
Pick winning stocks: Upgrade to Early Bird Prime.
Be social: Like our Facebook page and follow us on Twitter.
Want more investing tips? Listen to the podcast.
Show Your Support: Buy Me a Coffee.
Questions or comments? Hit reply to reach out.
The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations, and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.
