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Adobe expands AI tool access, Carvana shares rise, Signet Jewelers shares drop: Top tickers

Adobe opens up its generative AI tool, Firefly, to businesses. Carvana shares rise as the company reported an upbeat outlook for the second quarter. Signet Jewelers shares drop amid the company cutting its sales and profits forecast. Yahoo Finance Live breaks down some of the trending tickers of the day.

Video transcript

BRAD SMITH: We're 30 minutes into trade. Let's take a look at some of the top movers this morning. One of them Carvana, soaring this morning after the company provided an upbeat second quarter outlook. Now expecting total gross profit per unit above $6,000 and adjusted EBITDA above $50 million as its cost-cutting efforts drive down expenses.

JULIE HYMAN: We're also watching shares of Signet Jewelers. The company reported better than expected earnings, but cut its forecast for sales and profits, citing a soft Mother's Day, pointing to increasing macroeconomic pressure. They also mentioned deeper competitive discounting, which could eat into profits.

BRAD SMITH: And Adobe on the move today, after announcing the company is opening up its Firefly generative AI model to businesses. The program will allow employees within a company to instantly generate images or copy from text-based descriptions that they can then use for social media, marketing, presentations, which can then be used in marketing campaigns, social media promotions, corporate presentations, and anything else that they can think of or conceive.