Shares of software companies are trading higher as the industry extends its recent rally, which may be due to investors rotating out of weakened semiconductor and AI hardware stocks into less capital-intensive areas of the tech sector. The industry may be buoyed by trader optimism ahead of Microsoft's Q4 earnings that will be reported after the market closes.

Why Is Adobe Stock Surging on Thursday?

Adobe Inc (NASDAQ: ADBE) stock is trading higher Thursday following quarterly earnings results from Salesforce Inc (NYSE: CRM).

Shares of enterprise application software are trading higher amid sympathy with Salesforce after the company reported Q2 financial results.

Autodesk shares are trading lower after the company reported Q2 financial results and issued Q3 EPS guidance below estimates. Also, the company narrowed its FY27 adjusted EPS guidance with its midpoint below estimates.

Autodesk Narrows FY2027 Adj EPS Guidance from $12.40-$12.65 to $12.52-$12.60 vs $12.60 Est; Raises FY2027 Sales Guidance from $8.155B-$8.215B to $8.575B-$8.650B vs $8.206B Est

Autodesk (NASDAQ:ADSK) narrows FY2027 Adj EPS guidance from $12.40-$12.65 to $12.52-$12.60 vs $12.60 analyst estimate. Raises FY2027 sales outlook from $8.155 billion-$8.215 billion to $8.575 billion-$8.650 billion vs

Autodesk Widens FY2027 GAAP EPS Guidance from $8.07-$8.63 to $7.89-$8.72 vs $8.44 Est

Autodesk (NASDAQ:ADSK) widens FY2027 GAAP EPS guidance from $8.07-$8.63 to $7.89-$8.72 vs $8.44 analyst estimate..

Autodesk Sees Q3 Adj EPS $3.04-$3.09 vs $3.14 Est; Sees Sales $2.125B-$2.140B vs $2.082B Est

Autodesk (NASDAQ:ADSK) is looking for Q3 Adj EPS of $3.04-$3.09 vs $3.14 analyst estimate. sees sales of $2.125 billion-$2.140 billion vs $2.082 billion analyst estimate.