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<ul class="summary-list"><li><keyword id="11893675" type="UNKNOWN" weightage="60" keywordseo="adobe" source="Orion">Adobe</keyword> shares dropped 11% on Wednesday following the software maker's revenue warning for fiscal 2022.</li><li>Adobe sees yearly revenue declining by $75 million after halting sales in <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> and Belarus. </li></ul><a href="https://markets.businessinsider.com/stocks/adbe-stock">Adobe</a> stock sharply dropped Wednesday after the maker of Photoshop and other creativity software products said its revenue will take a hit from suspending sales in Russia, a move it made after Moscow launched a war against <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>. Shares of Adobe fell as much as 11% to $416.47, before paring the intraday slump to 9.4%. The stock in 2022 through Tuesday's regular session had lost about 18%, with large-cap <keyword id="11906584" type="UNKNOWN" weightage="60" keywordseo="tech-stocks" source="Orion">tech stocks</keyword> overall on the Nasdaq Composite this year driven into a bear market. Revenue in fiscal 2022 will likely be reduced by $75 million, the company said late Tuesday in its fiscal first quarter report. Adobe in early March said Russia's attack on Ukraine prompted it to <a href="https://blog.adobe.com/en/publish/2022/03/04/adobe-stops-all-new-sales-in-russia">immediately halt new sales</a> of its products and services in Russia and Belarus. It also terminated access to its Creative Cloud, Document Cloud, and Experience Cloud products to Russian government-controlled media outlets.Adobe is still providing digital media services in Ukraine but projected a $12 million cut there in digital media annualized recurring revenue. "International events and broader uncertainty created a murky picture for FY22, particularly exiting Russia and Belarus," Goldman Sachs analyst Kash Rangan said in a research note dated late Tuesday. "While we acknowledge the implications of the Ukraine/Russia conflict … we note these changes are less operational changes and demand remains strong across various market segments." Goldman cut its price target to $605 from $710 given Adobe's recent market performance. It said Adobe still appears on track to double revenue in the long-term, potentially leading the company to enter the top ranks of software makers and reach at least $40 billion in revenues. For its fiscal first quarter, Adobe posted adjusted earnings of $3.37 a share, 3 cents ahead of a FactSet consensus forecast. Revenue rose to $4.26 billion, slightly ahead of expectations of $4.24 billion.<div type="image" title="A snapshot of Adobe's stock drop on Wednesday." height="996" width="1126" msid="90406269" hostid="261"></div>

Adobe slumps 11% as the software maker says halting sales in Russia will reduce yearly revenue

New Delhi, Feb 26 () The Asian Development Bank (ADB) on Wednesday said it has raised Rs 850 crore (USD 118 million) from a new issue of offshore Indian rupee-linked 10-year bonds. This represents ADB's first new maturity raised in Indian rupees since 2017 and contributes to an established yield curve which stretches from 2021 through 2030 with Rs 7,240 crore (USD 1 billion) of outstanding bonds, said the multilateral lending agency in a statement. ADB's India rupee bonds have been a "game changer" for local currency operations, said ADB Treasurer Pierre Van Peteghem. "Through issues like this, ADB contributes to capital market development, attracts foreign portfolio investment, and catalyses the financing of new ADB loans and investments in Indian rupees. "On this occasion, we are also supporting the development of financial market infrastructure by listing the bonds on India International Exchange," the official said. The bonds bear a semi-annual coupon of 6.15 per cent and priced to yield 6.19 per cent. The bonds, which are denominated in Indian rupees, but settled in US dollars, were underwritten by JP Morgan and primarily distributed to investors in the Americas (21 per cent) and Europe (79 per cent). By investor type, 28 per cent of the bonds were placed with banks and 72 per cent with fund managers. The Manila-headquartered agency further said ADB will dual list its bonds on the Global Securities Market of India International Exchange at GIFT IFSC and the Luxembourg Stock Exchange. ADB is a regular borrower in the mainstream international bond markets, but has also led issuances in developing Asian countries as part of efforts to promote local currency bond markets as an alternative to bank lending. In 2019, ADB issued local currency bonds in Georgian lari, Indian rupee, Indonesian rupiah, Kazakhstan tenge, and Philippine peso. NKD SID ANSANS

ADB raises USD 118 mn from rupee-linked bonds

<ul><li>After being identified as the "whale" behind a series of option trades in <keyword id="126382" type="PERSON" weightage="60" keywordseo="Technology-stocks">technology stocks</keyword> earlier this month, the <keyword id="163404" type="COMPANY" weightage="60" keywordseo="Softbank">SoftBank</keyword> Group is now reconsidering its strategy, <a href="https://www.bloomberg.com/news/articles/2020-09-11/softbank-reconsiders-options-trading-strategy-that-hurt-shares?sref=DWzi38c2">Bloomberg reported on Friday.</a></li><li>The firm met with investors to explain that its option trading strategy is somewhat conservative and is only in blue-chip <keyword id="552967" type="PERSON" weightage="60" keywordseo="tech-stocks">tech stocks</keyword>.</li><li>SoftBank employed a strategy of buying out-of-the-money <keyword id="610748" type="PERSON" weightage="60" keywordseo="call-options">call options</keyword> on tech <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword>, and selling even higher priced calls on the same names, according to the report.</li><li>Here are the seven technology stocks SoftBank piled into via call <keyword id="43774" type="PERSON" weightage="60" keywordseo="Options">options</keyword>, according to the report.</li><li><a href="https://www.businessinsider.com/?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestutm_source=msn.com&amp;utm_medium=referral&amp;utm_content=msn-slideshow&amp;utm_campaign=bodyurl?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestce=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Visit the Business Insider homepage for more stories</a>.</li></ul>After being identified as <a href="https://markets.businessinsider.com/news/stocks/softbank-tech-stocks-purchase-buy-market-rally-propel-reportedly-options-2020-9-1029564252">the "whale" behind a series of large options trades</a> that raised eyebrows among investors earlier this month, the SoftBank Group is reconsidering its strategy, <a href="https://www.bloomberg.com/news/articles/2020-09-11/softbank-reconsiders-options-trading-strategy-that-hurt-shares?sref=DWzi38c2">Bloomberg first reported.</a>The Japan-based tech conglomerate told investors that its multi-billion dollar bet on tech stocks is relatively conservative given that it is concentrated in a small group of blue-chip tech stocks.The firm employed a call spread strategy: buying out-of-the-money call options on a stock, and then selling even higher-priced out-of-the-money call options to collect the premium. This type of strategy caps upside potential, while the premium collected from selling call options helps lessen the downside potential.Now, SoftBank is reconsidering the trades and trying to reassure its investors after it experienced a near $10 billion decline in market value after it was identified as the options whale.Here are the seven technology stocks SoftBank piled into via call options, according to the report.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-beat-market-growth-ai-technology-ubs-2020-9?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Buy these 17 'superstar' stocks poised to soar as they use AI technology to drive market-beating growth, UBS says</a>1. <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a>Ticker: AMZN Market cap: $1.6 trillion2. <a href="https://markets.businessinsider.com/stocks/adbe-stock">Adobe</a>Ticker: ADBE Market cap: $231.7 billion3. <a href="https://markets.businessinsider.com/stocks/googl-stock">Alphabet</a>Ticker: GOOGL/GOOG Market cap: $1.04 trillion4. <a href="https://markets.businessinsider.com/stocks/nflx-stock">Netflix</a>Ticker: NFLX Market cap: $213.4 billion5. <a href="https://markets.businessinsider.com/stocks/crm-stock">Salesforce.com</a>Ticker: CRM Market cap: $224.3 billion6. <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>Ticker: MSFT Market cap: $1.53 trillion7. <a href="https://markets.businessinsider.com/stocks/fb-stock">Facebook</a>Ticker: FB Market cap: $768.6 billionRead more: <a href="https://www.businessinsider.com/stock-market-crash-dot-com-similarities-meltdown-in-next-year-2020-9?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">'The psychology is even more dangerous than 20 years ago': A Wall Street investment chief says stock valuations are giving him dot-com bubble flashbacks - and warns of a major meltdown in the next year</a>

These are the 7 technology stocks Softbank piled into via call option strategies, report says

New Delhi, Dec 11 () Following are the top business stories at 1820 hours:
 
DEL64 BIZ-LD-ADB-INDIA-GROWTH
ADB cuts India's growth forecast to 5.1pc for FY2019; projects 6.5 pc for next year
New Delhi: Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast for FY2019 to 5.1 per cent on slowing job prospects, rural distress exacerbated by poor harvest and credit crunch. 
 
DCM23 BIZ-GST
GST rates may go up for various items to meet revenue shortfall
New Delhi: With pressure on revenue collection, the goods and services tax (GST) rates and slabs may be raised during the GST Council meeting next week. 
 
DEL84 BIZ-LD STOCKS
Markets back to winning ways as bank, IT stocks shine
Mumbai: Equity benchmarks resumed their upward march on Wednesday, propelled by fag-end buying in bank, IT and auto stocks amid lacklustre global cues.
 
DCM30 BIZ-INDIA-US-OIL
US replaces Kuwait as India's 6th biggest oil supplier
New Delhi: The United States has surpassed Kuwait to become India's sixth largest oil supplier as it supplied 70 per cent more crude to the world's third largest energy consumer during April-September.
 
DEL85 BIZ-RUPEE-CLOSE
Rupee extends winning run for 6th day against US dollar, gains 7 paise
Mumbai: The rupee appreciated by 7 paise to settle at a fresh one-month high of 70.85 against the US dollar on Wednesday on the back of firm domestic equities and easing crude oil prices, extending its winning run for the sixth straight session. 

DCM42 BIZ-DATA PROTECTION BILL-REAX
Sweeping powers to govt under data protection Bill a step backwards, say experts
New Delhi: The Personal Data Protection Bill giving investigating agencies unbridled powers to carry out surveillance on private data has spooked companies and experts who argue that such overarching access is against established principles and is a dramatic step backwards.
 
DCM14 BIZ-ADANI-QATAR
Qatar sovereign wealth fund QIA buys 25.1 pc stake in Adani Electricity Mumbai for Rs 3,200 cr
New Delhi: Qatar Investment Authority has agreed to buy a 25.1 per cent stake in Adani Electricity Mumbai Ltd - the firm that distributes power to three million consumers in Mumbai - for Rs 3,200 crore.
 
DCM3 BIZ-CGPOWER-SFIO
SFIO begins probe against CG Power and Industrial Solutions, 15 group firms
New Delhi: The Serious Fraud Investigation Office (SFIO) has started probe into the alleged irregularities at CG Power and Industrial Solutions Ltd and its 15 group companies. 
 
 
 
 
 SHW
SHW

Business highlights

Mumbai, Dec 11 () The BSE benchmark Sensex rose over 170 points to close at 40,412 on Wednesday, helped by fag-end buying mainly in auto, IT and oil &amp; gas stocks amid easing crude prices.
 After swinging nearly 330 points, the index finished 172.69 points or 0.43 per cent higher at 40,412.57.
 Similarly, the 50-scrip NSE Nifty appreciated 53.35 points or 0.45 per cent to close at 11,910.15.
 In the Sensex kitty, NTPC was the top gainer, spurting 2.77 per cent rise, followed by ONGC, Tech Mahindra, Kotak Bank, TCS, Asian Paints, IndusInd Bank and Tata Motors, which gained up to 2.28 per cent.
 On the other hand, Yes Bank topped the laggard's list for the second straight day, plunging 15.33 per cent. Vedanta, Hero MotoCorp, L&amp;T, Bharti Airtel and HUL also tumbled up to 1.63 per cent.
 The Asian Development Bank (ADB) on Wednesday trimmed its forecast for India's economic growth in 2019-20 to 5.1 per cent, saying consumption was affected by slow job growth and rural distress aggravated by poor harvest.
 "India's growth is now seen at a slower 5.1 per cent in fiscal year 2019-20 as the foundering of a major non-banking financial company in 2018 led to a rise in risk aversion in the financial sector and a credit crunch.
 "Also, consumption was affected by slow job growth and rural distress aggravated by a poor harvest," it said.
 Meanwhile, the rupee appreciated by 14 paise to trade at 70.78 against the US dollar (intra-day).
 Brent futures, the global oil benchmark, slipped 0.40 per cent to USD 64.08 per barrel. BAL ABM
ABM

Sensex spurts over 170 points in choppy trade

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Thomson ReutersTraders work on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York</div></div></div>Via Dave Lutz, head of ETFs at JonesTrading, here's a super-quick guide to what traders are talking about right now:Good Morning! US Futures are adding 50bp, as Earnings propels the index (FDX and ADBE) - While BOJ kept rates and asset purchases unchanged, Fins and Insurers in Japan loved the lack of NIRP and Steepening Curve - With the Nikkei climbing 1,9% and TOPIX Banks almost 7%. A wide sea of green over in Europe, as the DAX climbs 1.3% as Financials enjoy their best day in over 2months (but DB can barely hold a bid) - Energy companies are jumping on Oil's jump higher overnight, Telecom jumps 2.4% and Tech 1.5%. FTSE is lagging a bit, as Staples, Industrials and HC all offset gains by the Miners. In Asia, Shanghai added 30bp, Aussie rose 70bp on the back of commodity companies, while Japan leaps almost 2% ahead of a holiday tomorrow. EM Asia all closed strong. Ahead of the Fed today (Headlines and "Dot Plot" at 2, Presser at 2:30) - Fed Funds show a 22% chance of a hike today as attention focuses on December. Global Yields are relatively flat, despite a whipsaw in JGB's on the BOJ headers, but both US and German Yields are flat to yesterday's close. The DXY is off small, losing ground to the Euro and A$, while the Yen has strengthened due to lack of additional stimulus. Metals are mixed, with Silver and Platinum climbing 1%+, while Copper and Zinc Dive red. WTI up 2% as API last night showed a massive draw, while Gasoline has recovered 3% of yesterday's smackdown. Softs are mixed. At 9am we get the Conference Board China August Leading Economic Index, followed by the Bank of England Bond-Buying Operation Results at 9:50. 10:30 brings DOE data for Crude (API last night showed a DRAW of 7.5MM, against expectations of a 3.3MM BUILD forecast) - then attention turns to Washington for the 2pm FOMC Rate Decision and the "Dot Plot" headlines hitting right when the House Oversight committee hearing on EpiPen prices (MYL) kicks off - followed by the 2:30 Yellen Presser. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/elizabeth-warren-rips-wells-fargo-ceo-scandal-john-stumpf-2016-9">Watch Elizabeth Warren rip Wells Fargo CEO: 'You should resign'</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o5aGcwNjE6BmkYOvr2712l2cma2m8hQP" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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Adobe slumps 11% as the software maker says halting sales in Russia will reduce yearly revenue

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These are the 7 technology stocks Softbank piled into via call option strategies, report says

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