Straight from Benzinga newsdesk, host Michael O'Connor brings you the market news and stocks to watch.

Subscribe to our Stocks To Watch Newsletter here : https://go.benzinga.com/sales-page-187126583617110118712659Today's Stocks:

• $ARM $SMTC $ADBE $XOM $MSFT
• ARM Holdings IPO today (NASDAQ: ARM) Arm Holdings prices IPO at $51 a share, top of range. AMR is already a BUY with some analysts.
• Semtech Corporation (NASDAQ:SMTC) reported upbeat earnings for its second quarter, but issued weak forecast for the third quarter. Semtech shares fell 5.1% to $21.70 in the after-hours trading session.
• Analysts are expecting Adobe Inc. (NASDAQ:ADBE) to have earned $3.98 per share on revenue of $4.87 billion for the latest quarter. The company will release earnings after the markets close. Adobe shares gained 0.3% to $555.00 in after-hours trading.
• Texas Billionaire Timothy Dunn Backed US Oil & Gas Player Explores $10B Sale. Notable oil industry giants like Exxon Mobil Corp (NYSE:XOM) and Chevron Corp (NYSE:CVX) are expected to be approached to gauge their interest in the potential acquisition of CrownRock. Crude at a 10-month high - OPEC's forecasts indicate a sharp drop in world oil inventories, with a projected decline of around 3.3 million barrels per day in the next three months, potentially the largest since 2007.
• During a virtual appearance at the All-In Summit, Elon Musk once again expressed concerns regarding Microsoft Corporation’s (NASDAQ:MSFT) significant control over OpenAI, prompting questions about the potential consequences for ChatGPT-parent’s future.

Hosts:

Michael O'Connor , Benzinga Newsdesk

Reach out to Michael at michaeloconnor@benzinga.com

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