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Companies to Watch: Adobe has strong quarter, Southwest Airlines issues mixed guidance, Amazon makes an upgrade

Yahoo Finance


Here are the companies the Yahoo Finance team is watching for you today.

Adobe (ADBE) is coming off a strong quarter, but its guidance disappointed many investors. The company behind Photoshop reported an earnings and revenue beat as it tested higher prices. However, it warned that its digital media business isn't growing as fast as it had in past years.

Some mixed guidance at Southwest Airlines (LUV). The company says it still sees solid demand for flights and expects revenue per seat mile to grow 3% to 5% in the 3rd quarter. The company is also trimming its growth outlook. Southwest has been hit hard by the grounding of Boeing's 737 Max jets. Southwest has canceled max flights through January.

GoDaddy (GDDY) is getting a boost after its CEO Aman Bhutani announced new software to help small businesses build websites. NBA star Stephen Curry and his wife Ayesha helped to announce the software, which also includes a suite of marketing tools. The couple launched a new website for their ‘Eat. Learn. Play.’ community foundation using the Go Daddy software.

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Amazon (AMZN) is stepping up its game. The company is rolling out a high-resolution version of its music streaming service: Amazon Music HD. The service will cost $12.99 for Prime members and $14.99 for nonmembers; an undercut to Tidal's $19.99 per month. Also, Amazon studios announced that it will shoot its 'Lord of the Rings' tv series in New Zealand.

The bumpy road to WeWork's IPO continues. Hours after announcing plans to delay its IPO roadshow, WeWork made a round of job cuts in its New York City offices that handle on-demand office rentals. According to Bloomberg, fewer than 10 people were let go. That's on top of 300 job cuts at WeWork this past spring.