By Kelly Cloonan
Adobe boosted its full-year outlook after reporting higher revenue in the second quarter. The software company also said Chief Financial Officer Dan Durn would exit on June 15, adding further executive turnover at the company after Chief Executive Shantanu Narayen said in March he would step down once his successor has been appointed. Durn is departing Adobe to take on the CFO role at Marvell Technology. Shares fall 5.7% to $206.20 in after-hours trading.
Lennar lowered its full-year home deliveries forecast after revenue fell in its latest quarter. The homebuilder said stubborn housing-market headwinds continued to weigh on its results, citing high mortgage rates, low affordability, consumer sentiment, and inflation as contributing factors to the slow housing market. The company said it has prioritized increasing its volumes and delivering at lower prices, and continues to see opportunity in the housing market. The stock fell 2.1% to $93 in late trading.
Virgin Galactic said it redeemed $30.5 million of its 9.8% First Lien Notes due in 2028 by issuing 6.7 million shares. The move is aimed at improving liquidity and mitigating concentration risk associated with debt payments as the company prepares for commercial operation in the fourth quarter, it said. The stock climbed 15% to $6.57 after hours.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
June 11, 2026 19:27 ET (23:27 GMT)
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