00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Adobe announced a $25 billion share repurchase program through April 30th, 2030,
00:07as it seeks to reassure investors about its growth strategy amid rising competition from
00:13autonomous AI tools, according to Reuters. Shares rose about 2% in extended trading,
00:18but the stock is down around 30% this year as investors assess risks to demand for traditional
00:24design software. CFO Dan Dern said the buyback reflects confidence in cash flow and long-term
00:30value. Concerns increased after Anthropic launched Claude Design, a chatbot that creates designs and
00:36presentations. Adobe launched new AI products to automate and personalize marketing functions.
00:42Uncertainty also follows CEO Shantanu Narayan's March exit and ongoing investor pressure to show
00:48returns from AI investments. For all things money, visit Benzinga.com.
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