{
  "url": "https://struct.news/briefs/adobe-and-coca-cola-have-found-the-same-market-weather",
  "title": "Adobe and Coca-Cola have found the same market weather",
  "summary": "Seventeen names cleared the activity threshold on August 12, spanning software, beverages, travel, healthcare and more.",
  "published_at": "2026-08-12T23:47:06.647284+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": null,
    "ticker": null,
    "cik": null,
    "sector": null,
    "industry": null
  },
  "source_filing": null,
  "comparison_filing": null,
  "reported_figures": [
    {
      "group": "An unusually broad cross-sector cluster",
      "label": "Active today",
      "value": 17,
      "display": "17/25",
      "unit": "number",
      "period": null,
      "detail": "Group members above the activity threshold",
      "source": {
        "kind": "jodie_evidence",
        "label": "Broad-market moves removed",
        "as_of": "2026-08-12"
      }
    },
    {
      "group": "An unusually broad cross-sector cluster",
      "label": "Recent correlation",
      "value": 0.5876,
      "display": "0.59",
      "unit": "number",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Broad-market moves removed",
        "as_of": "2026-08-12"
      }
    },
    {
      "group": "An unusually broad cross-sector cluster",
      "label": "Usual correlation",
      "value": -0.0604,
      "display": "-0.06",
      "unit": "number",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Broad-market moves removed",
        "as_of": "2026-08-12"
      }
    },
    {
      "group": "An unusually broad cross-sector cluster",
      "label": "Above normal",
      "value": 3.47,
      "display": "3.5σ",
      "unit": "sigma",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Broad-market moves removed",
        "as_of": "2026-08-12"
      }
    }
  ],
  "watch_next": [
    {
      "type": "demand",
      "statement": "Booking linked higher deferred merchant bookings, current liabilities, and receivables to higher business volumes.",
      "importance": "medium",
      "evidence": "Deferred merchant bookings and other current liabilities increased by $3.8 billion and accounts receivable increased by $1.1 billion during the period, primarily due to higher business volumes.",
      "source_date": "2026-08-04"
    },
    {
      "type": "input_costs",
      "statement": "Filing quantifies a 400 basis-point offset to gross margin from higher manufacturing and logistics costs (labor, commodities, tariffs, transportation).",
      "importance": "medium",
      "evidence": "Excluding one-time costs associated with exiting the Flawless, Spinbrush, and Waterpik showerheads businesses in the prior year, gross margin increased 40 bps which includes favorable volume and mix of 180 bps, the impact of productivity programs of 150 bps, the mix benefits of acquisitions combined with the favorable impact of business exits of 110 bps, partially offset by the impact of higher manufacturing and logistics costs of 400 bps (including labor, commodities, tariffs and transportation",
      "source_date": "2026-07-31"
    },
    {
      "type": "pricing",
      "statement": "Filing reports higher net pricing across the portfolio resulting from changes to distributor relationship terms, a disclosed current driver of net sales.",
      "importance": "medium",
      "evidence": "(b) higher volumes of Woodford Reserve; (c) higher net pricing across the portfolio as a result of changes to our distributor relationship terms; and (d) favorable timing of distributor ordering patterns.",
      "source_date": "2026-06-12"
    },
    {
      "type": "input_costs",
      "statement": "Higher manufacturing costs reduced gross margin by 180 bps, including labor, commodity inflation, transportation and higher tariffs, net of mitigation.",
      "importance": "medium",
      "evidence": "The increase in gross margin was primarily due to the impact of productivity programs of 150 bps, benefits of the Touchland Acquisition combined with the impact of business exits of 110 bps, favorable volume/price/mix of 50 bps and favorable foreign exchange of 10 bps, partially offset by the impact of higher manufacturing costs of 180 bps (including labor, inflation in commodities and transportation and higher tariffs, net of tariff mitigation actions).",
      "source_date": "2026-05-01"
    }
  ],
  "related_tickers": [
    "ADBE",
    "ADSK",
    "BF-A",
    "BF-B",
    "BJ",
    "BKNG",
    "CHD",
    "CRM"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}