Adobe Shares Tumble on Weak Forecast; GM's Cruise Dismisses Executives Amid Safety Probe

Berkshire Hathaway increases stake in Occidental Petroleum, Nordson projects higher Q1 revenue, and jobless claims expected to remain steady.

Adobe shares fell over 6% after the company issued a weaker-than-expected forecast for 2024 and warned of potential penalties tied to a Federal Trade Commission probe.
General Motors' robotaxi unit Cruise dismissed nine executives amid an ongoing safety investigation, following an incident involving a Cruise driverless vehicle in October.
Berkshire Hathaway acquired more than 10 million shares of Occidental Petroleum, increasing its stake in the oil company to about 27%.
Adhesive manufacturer Nordson issued guidance for the fiscal first quarter that projected revenue of $615 million to $640 million, higher than the $610.5 million it reported for the same quarter in the prior year.
Initial jobless claims for the week of Dec. 9 are expected to total 220,000, the same reading from the week before.