Stock Movers Adobe Falls After CEO’s Exit; Ulta Sinks; Once Upon a Farm Tumbles
Mar 13, 2026
A rundown of major stock moves tied to a high-profile tech CEO stepping down and the AI pressures behind it. A beauty retailer issues cautious guidance that cools investor enthusiasm. A celebrity-linked snack maker posts its first public earnings and warns of slower sales growth. Market reactions and trading drops follow each update.
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Adobe CEO Exit Reflects AI Pressure
- Adobe's CEO Shantanu Narayen is resigning after 18 years amid heavy AI-era pressure and a 23% YTD stock decline.
- Narayen grew revenue ~6x to $24B and expanded headcount from ~7,000 to 30,000 while shifting to subscription models.
Adobe's AI And Subscription Strategy
- Adobe integrated AI widely, offering models to generate imagery with lower copyright risk to defend market share.
- The company led an early shift to subscription software, multiplying annual revenue and enabling scale.
Ulta Gives Cautious Guidance Amid Strong Run
- Ulta guided cautiously with same-store sales growth of 2.5–3.5% and EPS near the low end of analyst estimates.
- The stock has nearly doubled and outpaced the S&P 500, prompting conservative outlooks despite international expansion.