4 stocks to watch on Thursday: Arm market debut, Adobe and more
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U.S. stock index futures on Thursday pointed to a higher open, as market participants digested a slew of domestic economic data while parsing the European central bank's latest rate decision. Here are some stocks to watch on Thursday: 

All eyes will be on the upcoming market debut of SoftBank's chip designer Arm Holdings (ARM), after the company on Wednesday priced its initial public offering (IPO) at the top end of the range at $51/share, giving ARM a valuation of more than $54B. The market debut is being seen as a major test of the U.S. IPO market, which has languished in the doldrums for more than a year. ARM's IPO was oversubscribed by 10 times, according to Bloomberg. CNBC said major tech titans including Taiwan Semiconductor Manufacturing (TSM), Intel (INTC), Nvidia (NVDA) and Apple (AAPL) planned to buy $735M of the float.

Shares of Adobe (ADBE) will be in focus, with the creative software maker scheduled to announce FQ3 2023 results after the closing bell. Wall Street expects ADBE to earn $3.98 per share on revenue of $4.87B. As has been the case with most technology firms this year, investors will be looking out for any commentary on artificial intelligence (AI). Analysts also believe that ADBE's upcoming Max conference in October will be a more "meaningful catalyst" than the results.
Lennar (LEN) stock will also garner some spotlight, with the homebuilder on tap to report FQ3 2023 numbers in extended trading. The company is anticipated to earn $3.53 per share on sales of $8.52B. LEN's results will come at a time when U.S. home prices have risen by the most in 10 months, according to data from online real estate brokerage Redfin (RDFN). The increase has come amid an inventory shortage as homeowners don't want to give up their relatively low mortgage rates.
Shares of International Game Technology (IGT) advanced more than 8% ahead of the opening bell, after a report that private equity firm Apollo Global Management (APO) was among possible buyers of IGT's global gaming division. According to Bloomberg, the division, which makes slot machines, may fetch $4B to $5B in a sale, including debt. IGT back in June said it was evaluating strategic alternatives for the division.

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