Adobe, Cava, Virgin Galactic, Microsoft, Micron, and More Stock Market Movers

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Stock futures pointed to a slightly lower start Friday for Wall Street as the

S&P 500
and

Nasdaq Composite
both come off six straight days of gains with investors cheering the continued strength of the U.S. economy.

These stocks were poised to make moves Friday: 

Adobe

(ADBE) posted fiscal second-quarter earnings that beat analysts’ estimates and the provider of content development and marketing software tools raised its fiscal-year outlook. Chief Executive CEO Shantanu Narayen said

Adobe

‘s “ground-breaking innovation” positions it to “lead the new era of generative AI.” The stock was up 3.4% in premarket trading.

Cava

(CAVA) rose 2/9% in premarket trading to $45.05 after shares of the fast-casual Mediterranean restaurant chain nearly doubled in value on Thursday, closing with a gain 99% in their trading debut on the New York Stock Exchange. Cava’s initial public offering was priced at $22 a share.

Virgin Galactic

(SPCE) jumped 39% in premarket trading after the space-tourism pioneer said its first commercial flight into space was scheduled for the end of the month.

Microsoft

(MSFT) closed at all-time high Thursday of $348.10, rising 3.2%. It has finished higher for six straight sessions. The software giant’s use of artificial intelligence has been providing a boost to its total available market for cloud solutions. In premarket trading, the stock was up 0.4%.

Micron Technology

(MU) gained 1% after saying it would commit another $602 million in its chip-packaging facility in the Chinese city of Xian. “This investment project demonstrates Micron’s unwavering commitment to its China business and team,” the company said via the

WeChat

social media site.

Walt Disney

(DIS) Chief Financial Officer Christine McCarthy will be stepping down and taking a family medical leave of absence, the entertainment giant said. Kevin Lansberry, executive vice president and financial chief of Disney Parks, Experiences and Products, will serve as interim chief financial officer, beginning July 1.

Write to Joe Woelfel at joseph.woelfel@barrons.com