StockNews.com began coverage on shares of Top Ships ( NASDAQ:TOPS – Get Free Report ) in a research report issued on Saturday. The firm set a “hold” rating on the shipping company’s stock. Top Ships Stock Up 1.9 % TOPS opened at $7.85 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 1.78. Top Ships has a 12 month low of $7.37 and a 12 month high of $18.97. The firm’s fifty day simple moving average is $8.51 and its 200 day simple moving average is $10.05. Institutional Inflows and Outflows An institutional investor recently bought a new position in Top Ships stock. Cetera Advisors LLC purchased a new position in shares of Top Ships Inc. ( NASDAQ:TOPS – Free Report ) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,004 shares of the shipping company’s stock, valued at approximately $196,000. Cetera Advisors LLC owned about 0.30% of Top Ships as of its most recent SEC filing. Hedge funds and other institutional investors own 6.72% of the company’s stock. About Top Ships Top Ships Inc owns and operates tanker vessels worldwide. The company’s tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2023, it had a fleet with a total capacity of 1,435,000 deadweight tonnes (dwt) consisting of one 50,000 dwt product/chemical tanker, five 157,000 dwt Suezmax tankers, two 300,000 dwt very large crude carriers, and two 50,000 dwt product tankers. Read More Receive News & Ratings for Top Ships Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Top Ships and related companies with MarketBeat.com's FREE daily email newsletter .
Billionare Gautam Adani today addressed the 51st India Gem & Jewellery Awards in Jaipur. During his speech, Mr Adani responded to the legal matter involving the US Department of Justice. He also spoke about how he made his first commission of Rs 10,000. Here is his full speech: "It is an honour to stand before you today at the 51st India Gem & Jewellery Awards. This is a celebration of India's remarkable heritage in craftsmanship and innovation. My sincere congratulations to all the awardees whose exceptional efforts have carried forward India's rich legacy in jewellery. For centuries, India has been recognized as the undisputed leader in the space of gemstones and as the nation of unmatched artisans. Jewellery in our culture is not just ornamental - it is deeply symbolic, a marker of heritage, emotion, and aspiration. Your work has kept this tradition alive and relevant in an ever-changing world. This industry is a powerhouse, providing employment to over five million Indians - a figure comparable to the workforce of our IT sector. Surat, as the global epicentre of diamond cutting and polishing, employs over a million skilled workers. This industry is not just an economic driver; it is a source of pride for our nation. However, with great success comes an even greater responsibility: to innovate, expand, and lead courageously in the face of disruption. My dear friends, India is the jewel in the global crown of the cut-and-polished diamond market, holding 26.5% of the share, and silver jewellery at 30%. But the recent 14% decline in exports is more than a statistic - it is a wake-up call. It signals a turning point where challenges, both temporary and permanent, demand that we reimagine our approach. We are at the start of a revolution. Sustainability and technology - two forces reshaping industries worldwide - are now at our doorstep. The rise of lab-grown diamonds, the demand for transparency and ethical practices, shifting consumer priorities, and the digital wave are not just disrupting the status quo; they are creating a new blueprint necessary for success. This is therefore our moment to lead. The industry must think differently, act urgently, and innovate courageously. Today's inflection point must be turned into an era of unprecedented opportunity for growth. My dear friends, Allow me to narrate a story to set some context. Over a decade ago, during a trip to California, I saw my first lab-grown diamond. The founder had enthusiastically shared his vision, confident this was the start of a revolution in the jewellery industry. And he was right. As we now know, lab-grown diamonds have evolved from a scientific wonder to a market disruptor. Today, they are officially recognized by the US Federal Trade Commission as real diamonds. These diamonds now cost significantly less than the natural diamonds. Advances in Artificial Intelligence and material science are pushing their quality and precision even further. It's not far-fetched to imagine a future where we design our own diamonds - specifying every detail, from cut to colour, clarity, and carat weight - making each piece uniquely personal. This is the future we must embrace. Also, beyond traditional gems, the concept of jewellery itself is shifting. Watches, smartphones, and wearables are becoming the new personal status symbols, redefining luxury. Younger generations, in particular, are preferring technology and experiences over conventional luxury goods. Another trend reshaping the market is the growing demand for unique, customized pieces, sparking a rise in custom design services. With technologies like 3D printing, CAD software, Virtual Reality, and Augmented Reality, the process of designing, manufacturing, and experiencing jewellery is on the brink of transformation. These trends force us to rethink what we produce. They challenge us to create deeper emotional and traditional connections in line with changing consumer needs and behaviours. It is this spirit of transformation that I want to explore today - what it truly means to Break the Status Quo. Only by challenging the status quo can we unlock new opportunities and shape the future. My dear friends, Let me start with a personal story about the first time that I broke the status quo. This story holds a very special place in my heart. It laid the foundation of who I was to become. Diamond trading was my entry point into the journey I took to become an entrepreneur. In the year 1978, at the age of 16, I left my school, left my home in Ahmedabad, and took a one-way ticket to Mumbai. I had no idea what I would do but I was clear that I wanted to be an entrepreneur. And I believed Mumbai was the city of opportunities that would give me this chance. I got my first opportunity at Mahendra Brothers, where I learned the art of diamond assorting. Even today, I recall the joy of closing my first deal. It was a transaction with a Japanese buyer and I got a commission of 10,000 rupees. That day marked the start of a journey that would shape the way I would live my life as an entrepreneur. I also learned that trading makes a great teacher. What I learned, as a teenager, was that trading does not come with safety nets. In fact, it is a discipline where you must find the courage to fly without any protective nets. You must learn to take the jump and trust your own wings. In this field, hesitation is the difference between winning and losing. Each decision is a test, not just against the market, but against the limits of your own mind. Trading also taught me another priceless lesson. Too much of an attachment to outcomes limits your ability to challenge the status quo. Therefore, my dear friends, To accept the status quo is to settle for a destiny where you stop questioning, stop dreaming, and stop exploring your own potential. The Adani Group stands where it is today because we are not afraid to challenge ourselves. We continuously redefined our boundaries, refused to accept limits, and were comfortable with the discomfort of change. Our journey has been built on the foundation of grit, and a relentless drive to overcome challenges. As I said earlier, I got to Mumbai when I was 16. But, in 1981, just as I turned 19, I was called back to Ahmedabad to help with my family's polymer business. India, at that time, faced a great shortage of raw materials given the intense import controls. I saw, first hand, the struggles that every small-scale industry faced. And then, it was in 1985, under the leadership of Shri Rajiv Gandhi, that India began to take its first steps towards economic liberalization. I saw an early opportunity in these changes, especially with the relaxation of import policies for industries facing raw material shortages. While I had no prior experience in trading polymers, I still took a calculated risk and established a trading organization focused on imports. By 1990, my trading venture was performing well, but then India itself faced a critical moment. The massive foreign exchange crisis of 1991 threatened the entire economy, ultimately leading to a wave of economic reforms initiated by Prime Minister Shri PV Narasimha Rao and then Finance Minister Dr Manmohan Singh. These reforms dismantled the License Raj, opened up the economy to foreign investments, and reduced import tariffs. I saw, in this transformation of the Indian business landscape an opportunity to scale further. In 1991 itself, at the age of 29, I established a global trading house, expanding into polymers, metals, textiles, and agricultural products. In just two years, we became India's largest global trading house, proving that the combination of speed and scale is a powerful driver of growth. However, while the import-export business did very well, I had started questioning the status quo. I began realizing that for the next phase of growth I would need to own assets and build something lasting. In other words, I had to challenge everything I knew. Remember, I had no experience in building anything. We had not even laid a single brick in our life. But opportunities show up for those that seek. And it was in 1995 that a transformative opportunity emerged when the BJP-led Gujarat government announced its port-led industrial development plan under a Public-Private- Partnership mode. To summarize a long story, we quickly moved to establish Mundra Port. This transition, about 30 years back, was the start of our journey into the domain of infrastructure. My dear friends, I tell my team all the time that the future belongs to those who dare to see beyond the present and who recognize that today's limits are tomorrow's starting points. Therefore: - as we took these journeys going beyond our comfort zone, we discovered other new possibilities. Had we remained satisfied with the status quo, these new and adjacent opportunities would have never come our way. Let me now outline a few examples. In the case of logistics, what started as a port jetty, to import coal in 1998, has gone on to become the country's largest port business. This business today - spans a network of 15 national and 5 international ports and thereby allowing us to expand into building a network of integrated logistic nodes. These nodes now are made up of ports, rail, highways, warehouses, inland container depots, fulfilment centres, and trucking in a way no other company has ever achieved in the world. This journey has taken us deep into the Middle East - all the way into the Mediterranean through Israel - and into the heart of Africa. For me, it is no more just about ports. It is now about leveraging India's geographic location and doing our part to help make our nation become the centre of the logistics world. Likewise, what started as a single power plant in 2007, has now become not just India's largest private thermal power generation company but has also allowed us to expand into adjacencies. This expansion has seen us become India's largest private transmission company, largest private power distribution company, largest mine developer and operator, as well as the only company that successfully took up the challenge of cross-border supply of power to help a neighbouring nation. Furthermore, it has allowed us to move into the area of renewable energy. Today, we are India's largest solar panel manufacturing company as well as the world's largest single-site renewable energy facility, well on our way to generate 30 GW of power, spread over a massive single span of land of more than 500 square kilometres. Yet another example of challenging the status quo is our move into the airport business. In less than three years, we became the largest airport operator in the country. We then built our adjacencies that made us the largest airport logistics player with almost 40% of India's air cargo and have now undertaken the world's largest slum redevelopment initiative, the Dharavi project. And, I must add here that, for me, Dharavi is not just about slum redevelopment. It is about restoring dignity, creating a sustainable ecosystem, and changing the status quo for over one million residents. My dear friends, Looking back, while we have had our successes, our challenges have been even bigger. However, these challenges have not broken us. Instead, they have defined us. They have made us tougher and give us the unshakeable belief that after every fall, we will rise again, stronger, and more resilient than before. Let me talk about three examples. First - In 2010, when we were investing in a coal mine in Australia, our objective was clear: How to make India energy secure - and replace every two tons of poor-quality Indian coal with one ton of high-quality coal from Australia? However, the resistance from NGOs was huge and lasted almost a decade. In fact, it was so intense that we ended up funding the entire project of 10 billion dollars with our own equity. While we now have a world class operating mine in Australia and it could be seen as a great sign of our resilience, the fact is that 100% equity funding took away over 30 billion dollars of debt financing from our green energy projects. The next example is from January last year, just as we were getting ready to launch our Follow-on Public Offering. We faced a short-selling attack initiated from abroad. This was not a typical financial strike; it was a double hit - targeting our financial stability and pulling us into a political controversy. All of this was further amplified by certain media with vested interests. But even in the face of such adversity, our commitment to our principles remained strong. After successfully raising 20,000 crore rupees from India's largest-ever FPO, we made the extraordinary decision to return the proceeds. We then further demonstrated our resilience by raising capital from several international sources and proactively reducing our Debt to EBITDA ratio to below 2.5 times, an unmatched metric in the global infrastructure space. Moreover, our all-time record financial results in the same year showcased our commitment to operational excellence. Not a single Indian or foreign credit rating agency downgraded us. Finally, the Supreme Court of India's affirmation of our actions validated our approach. The third example is very recent. As most of you would have read, less than two weeks back, we faced a set of allegations from the US about compliance practices at Adani Green Energy. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger and every obstacle becomes a stepping stone for a more resilient Adani Group. The fact is that despite a lot of the vested reporting, no one from the Adani side has been charged with any violation of the FCPA or any conspiracy to obstruct justice. Yet, in today's world, negativity spreads faster than facts - and as we work through the legal process, I want to re-confirm our absolute commitment to world class regulatory compliance. My dear friends, Over the years, I have come to accept that the roadblocks we face are the price of pioneering. The more bold your dreams, the more the world will scrutinize you. But it is precisely in that scrutiny that you must find the courage to rise, to challenge the status quo, and to build a path where none exists. To pioneer is to embrace the unknown, to break limits, and to believe in your vision even when the world cannot yet see it. Therefore, as I conclude, let me leave you with three guiding thoughts: First, Embrace technology and sustainability as the twin pillars of progress. These are not just trends - they are the foundation of our future. Your success will depend entirely on how boldly and at what scale you integrate these forces into your work. Technology will accelerate possibilities, while sustainability will ensure that your growth is enduring and responsible. Together, they represent the compass for a better tomorrow. Second, Empower and uplift the skilled workforce at the heart of our transformation. These craftsmen and artisans are the custodians of India's rich heritage, carrying forward skills passed down through generations. But for their talents to thrive in the modern world, they need access to new tools, digital platforms, and innovative training. Imagine an ecosystem where a craftsman from a small town uses digital design software to create, market, and sell globally. This is the blend of tradition and technology we must champion. And finally, The future belongs to our youth. The younger generation brings fresh ideas, unshakeable energy, and a willingness to disrupt the old ways of thinking. We must nurture them, and equip them to balance tradition with transformation, culture with innovation, and legacy with sustainability. They are not just participants in the future - they are its architects. Together, let us create an India where the wisdom of tradition, and the promise of innovation come together to challenge the status quo. And let us move forward with confidence to create a future where India's gems illuminate the world with their brilliance. Wish you all the best, Thank you. Jai Hind"Hegseth meets with moderate Sen. Collins as he lobbies for key votes in the Senate
11 states sue three largest institutional investors for anticompetitive trade practicesRA Capital Management Announces Close of $1.4 Billion Acquisition of Aliada Therapeutics by AbbVieCENTENNIAL, Colo.--(BUSINESS WIRE)--Dec 11, 2024-- NUBURU, Inc. (“NUBURU” or the “Company”) (NYSE American: BURU), a leading innovator in high-power and high-brightness industrial blue laser technology, today announced it received from NYSE Regulation a Warning Letter (the “Letter”) as provided under Section 1009(a) of the NYSE American LLC Company Guide (the “Company Guide”) describing violations by the Company of Sections 301 and 713 of the Company Guide. Section 301 of the Company Guide prohibits a listed company from issuing, or authorizing its transfer agent or registrar to issue or register, additional securities of a listed class until it has filed an application for the listing of such additional securities and received notification from the NYSE American that the securities have been approved for listing. Section 713 of the Company Guide requires stockholder approval when additional shares to be issued in connection with a transaction involve the sale, issuance, or potential issuance of common stock (or securities convertible into common stock) equal to 20% or more of outstanding stock for less than the greater of book or market value of the stock. As noted in the Letter, the Company issued approximately 4.6 million common shares between May 2024 and August 2024 in connection with the conversion of certain convertible promissory notes that NYSE has determined were in violation of these provisions. The Company is implementing additional controls to avoid violations of such NYSE rules in the future. The Company has been advised by NYSE Regulation that, following the filing of this press release and the associated Current Report on Form 8-K, this matter is resolved. About NUBURU Founded in 2015, NUBURU, Inc. (NYSEAM: BURU) is a developer and manufacturer of industrial blue lasers that leverage fundamental physics and high-brightness, high-power design to produce higher quality welds and parts at a faster rate than current lasers can produce for laser welding and additive manufacturing of copper, gold, aluminum and other industrially important metals. NUBURU’s industrial blue lasers produce minimal to defect-free welds at a rate that is up to eight times faster than traditional welding methods — all with the flexibility inherent to laser processing. For more information, please visit www.nuburu.net . Forward-Looking Statements This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release may be forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “seek,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. Forward-looking statements in this press release include, among other things, developments with our Board of Directors and our compliance with Exchange listing standards. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by NUBURU and its management, are inherently uncertain and many factors may cause the company’s actual results to differ materially from current expectations which include, but are not limited to: (1) the ability to continue to meet the Exchange’s listing standards; (2) failure to achieve expectations regarding its product development and pipeline; (3) the inability to access sufficient capital to operate as anticipated; (4) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (5) changes in applicable laws or regulations; (6) the possibility that NUBURU may be adversely affected by other economic, business and/or competitive factors; (7) volatility in the financial system and markets caused by geopolitical and economic factors; (8) failing to realize benefits from the partnership with GE Additive; and (9) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in NUBURU’s most recent periodic report on Form 10-K or Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. NUBURU does not give any assurance that it will achieve its expected results. NUBURU assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by applicable law. View source version on businesswire.com : https://www.businesswire.com/news/home/20241211406485/en/ CONTACT: Investor Relations: NUBURU, Inc. ir@nuburu.net (720) 767-1400 KEYWORD: COLORADO UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: MACHINE TOOLS, METALWORKING & METALLURGY MANUFACTURING SOURCE: NUBURU, Inc. Copyright Business Wire 2024. PUB: 12/11/2024 06:10 PM/DISC: 12/11/2024 06:08 PM http://www.businesswire.com/news/home/20241211406485/en
TALKING TRASH: LUCKY ENERGY DEBUTED AT ART BASEL
11 states sue three largest institutional investors for anticompetitive trade practices
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“What do you do? You wack the C.E.O. at the annual parasitic bean-counter convention. It’s targeted, precise, and doesn’t risk innocents.” Those lines reportedly come from a notebook found in the possession of Luigi Mangione , the 26-year-old man suspected of killing UnitedHealthcare CEO Brian Thompson. After Mangione was taken into custody earlier this week at a McDonald’s in Altoona, Pennsylvania, the public has slowly begun to learn about the man that police believe committed one of the most audacious murders in living memory. That murder, which took place on Dec. 4th in midtown Manhattan, saw Thompson gunned down in front of his hotel by a masked assailant. Security camera footage shows a figure dressed in gray attire who, after killing Thompson, stepped onto an e-bike and rode away. Bullet casings found at the crime scene were etched with the words “deny,” “defend” and “depose”—which some have speculated may reference a book about the healthcare industry. Now, police say they have gotten their hands on a notebook belonging to Mangione. The New York Times reports that the notebook “detailed plans for the shooting,” and also “described going to a conference and killing an executive.” The Times report doesn’t shed much light on the other contents of the notebook, writing that the lines that had been shared were communicated to the paper by two law enforcement officials. It’s possible that, as criminal proceedings progress, more of the notebook’s contents may be shared. Mangione is also thought to have written a “manifesto,” which law enforcement sources claim is legitimate. This supposed document was published online earlier this week by independent journalist Ken Klippenstein and, in one section, reads: “I do apologize for any strife of traumas but it had to be done. Frankly, these parasites simply had it coming. A reminder: the US has the #1 most expensive healthcare system in the world, yet we rank roughly #42 in life expectancy.” The manifesto also mentions a “spiral notebook” that the document states should “illuminate the gist of it,” seeming to allude to motivations for the shooting. Thompson’s death has predictably polarized the internet—and America. Rightwing influencers almost immediately sought to portray Mangione as a leftist, with LibsofTikTok calling him an “anti-capitalist climate-change activist.” Meanwhile, left-leaning accounts were more than happy to lionize the young man, with many people commenting on Mangione’s good looks, and others expressing support for killing corporate executives. Indeed, a broad, bipartisan dislike of the healthcare industry has made itself known over the past week, with many people expressing their disdain for it via jokes and memes , many of which have been made at the murdered healthcare executive’s expense. That said, a clear picture of Mangione’s personal politics hasn’t yet emerged. The Wall Street Journal referred to him as an “Ivy Leaguer with Anticapitalist Leanings.” The scouring of Mangione’s public-facing social media accounts has turned up a hodgepodge of interests and political leanings that don’t seem to fit into a coherent partisan picture. He did reportedly leave a favorable book review on Goodreads of Ted Kaczynski, the former promising young mathematician who took part in a CIA mind control experiment in the 1950s and went on to become “the Unabomber,” an anarchist terrorist who mailed bombs to people. It’s been reported that Mangione is from a wealthy, well-connected family and that he previously worked as a computer programmer. A video posted online shows the young man giving a valedictorian speech at his private prep school graduation in 2016. At some point, Mangione suffered a debilitating back injury . He is said to have abruptly dropped off the radar in the months before the shooting, prompting some to speculate that something happened during that period to radicalize him towards violence. Mangione’s mother reportedly filed a missing person’s report with the San Francisco Police Department on Nov. 18th.
Riding a 6-game win streak, the Eagles head to Hollywood again for a rematch with the young RamsStephanie Vaquer Signed With WWE Despite Another “Very Juicy” OfferRA Capital Management Announces Close of $1.4 Billion Acquisition of Aliada Therapeutics by AbbVie
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US lawmakers voted Wednesday after fraught negotiations to move forward with a contentious 2025 defense budget that raises troops' pay but blocks funding of gender-affirming care for some transgender children of service members. The centerpiece of the $884 billion National Defense Authorization Act (NDAA) -- which was green-lit by the Republican-led House of Representatives but still needs Senate approval -- is a 14.5 percent pay increase for junior enlisted service members and 4.5 percent for other personnel. But talks over the 1,800-page-plus text were complicated by a last-minute Republican intervention to prevent the military's health program from covering gender-affirming care for children of service members if it results in "sterilization." "Citizens don't want their tax dollars to go to this, and underaged people often regret these surgeries later in life," Nebraska Republican Don Bacon told CNN. "It's a bad hill to die on for Democrats." Gender-affirming health care for children is just one of multiple fronts in the so-called "culture wars" that polarize US politics and divide the country, with Republicans using the issue as a cudgel against Democrats in November's elections. The funding block angered progressives, and prompted the top Democrat on the House Armed Services Committee to come out against the legislation. "As I said a few days ago, blanketly denying health care to people who need it -- just because of a biased notion against transgender people -- is wrong," Adam Smith, who represents a district in Washington state, said in a statement. "The inclusion of this harmful provision puts the lives of children at risk and may force thousands of service members to make the choice of continuing their military service or leaving to ensure their child can get the health care they need." Smith slammed House Speaker Mike Johnson for pandering to "the most extreme elements of his party" by including the transgender provision. The must-pass NDAA -- a bill that Congress has sent to the president's desk without fail every year since 1961 -- cleared the chamber in a 281-140 vote and now moves to the Senate, with final passage expected next week. The topline figure is one percent above last year's total and, with funding from other sources, brings the total defense budget to just under $900 billion. Some foreign policy hawks on the Republican side of the Senate wanted $25 billion more for the Pentagon but they are still expected to support the bill. "The safety and security of the American people is our top priority, and this year's NDAA ensures our military has the resources and the capabilities needed to remain the most powerful fighting force on the planet," Johnson told reporters. ft/mlmDec 11 (Reuters) - Photoshop maker Adobe (ADBE.O) , opens new tab forecast fiscal 2025 revenue below Wall Street estimates on Wednesday, suggesting the company's investments to weave AI into its software applications were taking longer than expected to bear fruit. Shares of the San Jose, California-based company fell nearly 9% in extended trading. The company forecast annual revenue for 2025 between $23.30 billion and $23.55 billion, compared with estimates of $23.78 billion, according to data compiled by LSEG. Adobe is making significant investments in AI-driven image and video generation technologies in response to the growing competition from well-capitalized startups such as Stability AI and Midjourney. Although Adobe projected strong growth for the second half of the year in June, its forecast on Wednesday indicated the company was still struggling to monetize its AI push. "While the market's initial fears about AI disruption have subsided, Adobe's continued lack of AI monetization makes it increasingly difficult to pick them as a clear AI winner," said Charlie Miner, analyst at Third Bridge. The company's advancements into video-generation technology put it head-to-head with ChatGPT maker OpenAI, which boasts its own model, Sora. Adobe expects foreign exchange volatility and its shift towards subscriptions to cut into its fiscal 2025 revenue by about $200 million. However, DA Davidson analyst Gil Luria said the company is well-positioned to benefit from a return of enterprise spending, including from AI. "Adobe's image and video AI generation capabilities are getting broad adoption, which should continue to grow as the models get better," Luria said. Last month, the company added software tools that let customers use AI to create images based on Adobe's library of stock images. It forecast first-quarter revenue between $5.63 billion and $5.68 billion, which fell short of estimates of $5.73 billion. Adobe's fourth-quarter revenue rose 11% to $5.61 billion from a year ago, beating market expectations of $5.54 billion. On an adjusted basis, the company earned $4.81 per share, compared with estimates of $4.66. Sign up here. Reporting by Kritika Lamba and Zaheer Kachwala in Bengaluru; Editing by Krishna Chandra Eluri and Shreya Biswas Our Standards: The Thomson Reuters Trust Principles. , opens new tab