Adobe Stock Struggling with Pressure Ahead of Earnings

Adobe Inc (NASDAQ:ADBE) is set to report fiscal second-quarter earnings after the close on Thursday, June 11. According to Zacks Research, analysts expect earnings of $5.83 per share on revenue of $6.46 billion, representing year-over-year growth of 15.2% and 9.9%, respectively.

Options traders are bracing for a sizable post-earnings reaction. The options pits are pricing in a next-day swing of 13.8%, much larger than the stock's historical earnings move of 8.2% over the last eight quarters. ADBE has closed five of its last eight post-earnings sessions lower, including a 7.6% drop following its March report.

At last glance today, ADBE was down 2.2% at $246.01, heading for its fourth drop in five sessions after it was rejected by familiar pressure at the 120-day moving average. Since the start of the year, the equity is down 29.9%, struggling to recover from its roughly eight-year low in early April.