Adobe Inc ADBE Shares traded up 7.69% at $320.34 on Friday afternoon after a report suggested the DOJ is preparing to block the company’s $20 billion Figma deal.

Bloomberg late Thursday reported that “a case is expected to be filed as early as next month, although the timing could be delayed,” said one of the people, who all asked for anonymity to discuss the confidential investigation.

Adobe shares also fell Friday afternoon amid broad market weakness following January PCE data, which showed a rise in US inflation. Rising inflation could lead to more aggressive Fed policy, which could negatively impact consumer spending.

So what happened?

Our Benzinga team reported that overall PCE was up 5.4% in January. That’s up from 5.3% in December, but still well below the peak of 2022, which was up 7% in June. January’s PCE was well above economists’ estimate of 4.9%.

PCE core inflation, which excludes volatile food and energy prices, rose 4.7% in January, beating economists’ estimate of 4.3%…Continue reading

According to data from Gasoline ProADBE has a 52-week high of $479.21 and a 52-week low of $274.73.