Trending tickers: Apple | Adobe | Pfizer | Currys

Apple shares have hit a new record high. (Reuters / Reuters)

Apple (AAPL)

Apple's stock reached a record high on Wednesday and was trending in after hours trading as Wall Street rallied on interest rate cut hopes.

Apple's stock climbed 1.7% to end the day at $197.96 per share, beating the iPhone maker's previous record high close of $196.45 seen on 31 July, according to Reuters.

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The stock hit an intraday high of $198.00, just shy of its intraday record of $198.23 on seen on 19 July.

Shares have rallied 52% this year, giving the company a market value of $3.08bn (£2.43bn).

Adobe (ADBE)

Adobe shares slipped in extended trading after fiscal fourth-quarter results surpassed expectations, but guidance for fiscal 2024 trailed estimates.

Adobe reported adjusted earnings of $4.27 per share compared to estimates of $4.14 per share and revenue of $5.05bn, just slightly better than the $5.02bn analysts were expecting.

Analysts polled by LSEG had expected $18 in adjusted earnings per share and $21.73bn in revenue.

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For the current quarter ending in February, Adobe expects its per-share earnings to range from $4.35 to $4.40. The company said it expects revenue in the range of $5.1bn to $5.15bn for the fiscal first quarter.

During the quarter Adobe increased the costs of some subscriptions.

Pfizer (PFE)

Shares of Pfizer fell in after hours trading after the drugmaker forecast 2024 revenue and profit below Wall Street’s expectations.

Revenue from Pfizer's COVID-19 vaccine and treatment, which peaked at $57bn in 2022, are now expected to be $8bn in 2024, a further drop from the $13bn analysts' forecast and Pfizer's own lowered view of $12.5bn for this year.

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"We want to be conservative," Pfizer chief executive officer Albert Bourla said on a conference call with investors. "We want to be reliable so we won't create uncertainty (again), which was the case, unfortunately, this year."

Currys (CURY.L)

Electricals retailer Currys has reported falling sales as it said consumer spending has been under pressure and the business sharpened its focus on improving profits.

The group saw sales decline by 4% on a like-for-like basis over the six months to October, compared with the same time last year.

In the half-year ended 28 October, pre-tax loss narrowed to £46m from £548m the year prior on revenue which declined 7% to £4.16bn from £4.47bn before.

Shoppers have remained squeezed by persistent inflation and rising interest rates, helping drive a decline in all its international markets.

Richard Hunter, head of markets at Interactive Investor, said: “Currys is making progress in a challenging environment both at home and abroad, while also taking actions to underpin the group’s financial position."

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