Stocks to Watch: Adobe, Amtech Systems, Ocular Therapeutix

By Ben Glickman

Adobe issued fiscal first-quarter and 2024 revenue guidance below analysts estimates. The software maker also said it could face significant costs or penalties related to a Federal Trade Commission investigation into its disclosure and subscription cancellation practices. Shares fall 5.5% to $590 after-hours.

Amtech Systems warned of weaker demand for its products because of a continued downturn in the semiconductor industry. The semiconductor manufacturing equipment maker said it was looking to cut costs, including by reducing its workforce in areas of its business, and had entered a forbearance agreement with a lender. Shares were down 40% to $3.57 after-hours.

Ocular Therapeutix announced a proposed public offering of stock, the proceeds from which it plans to use to fund the development of one of its treatment candidates. The company didn't say how many shares it would sell in the secondary offering. Shares fall 15% to $3.33 after-hours.

Write to Ben Glickman at [e-mail]

(END) Dow Jones Newswires

December 13, 2023 18:52 ET (23:52 GMT)

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