Check out some of the companies making the biggest moves midday: Adobe — The software giant saw shares tumble more than 5%. CEO Shantanu Narayen said that he would step down from his post after a successor has been named. Narayen will remain as chair of the company’s board. He has been Adobe’s CEO since 2007. The news overshadowed first-quarter beats on the top and bottom lines. Fertilizer stocks — Shares of fertilizer companies gave back some of this week’s earlier gains that came on expectations the Strait of Hormuz disruptions will continue, disrupting key industrial inputs and pushing prices higher. Intrepid Potash shed about 8% and Mosaic and CF Industries both dropped around 4%. Ulta Beauty — The beauty products retailer lost 12% after reporting weak earnings results . In its fourth quarter, Ulta earned $8.01 per share, falling short of the $8.03 per share that analysts polled by LSEG were expecting. Revenue of $3.9 billion was ahead of the $3.8 billion that the Street expected. Once Upon A Farm — The baby food company co-founded by actress Jennifer Garner tumbled 8% after reporting its first earnings since going public in February. Once Upon a Farm guided full year 2026 adjusted EBITDA of $2 million to $4 million, versus $6.6 million in the fourth quarter o …
