10-year at 4.77%, ADBE -6.7% on CEO change, TSLA -5.9% on Cybercab probe

Friday's tape had a single macro spine: August payrolls came in stronger than expected, the 10-year Treasury yield closed at 4.77%, and the repricing touched every rate-sensitive name on the board. Chip stocks were the notable exception — they moved the other direction.

Rate read: 10-year at 4.77%, VIX at 14.3

The jobs beat hardened rate-hike probability estimates across the Street. $COIN was the clearest single-name expression: down 4.2%, giving back a portion of Thursday's 10.1% rally. The jobs report is the dateable reason. VIX finished at 14.3 — options markets repriced rate risk without panicking.

Company-specific declines: ADBE, TSLA, NFLX, PLTR

$ADBE was the session's largest single-name mover, down 6.7%. Adobe named Anil Chakravarthy to succeed Shantanu Narayen as CEO effective December 1; Narayen moves to executive chairman. Investors read the insider succession as an unresolved AI positioning question — no strategic pivot or product commitment accompanied the announcement.

$TSLA fell 5.9%. Federal safety investigators opened a probe into the Cybercab — it ships without a steering wheel — within roughly 24 hours of Thursday's launch event. Only 45 units are currently operating; Tesla had already removed volume production of the model from its 2026 plan six weeks before launch. The probe adds regulatory timeline risk to a rollout already constrained by battery supply.

$NFLX dropped 5.3%. Netflix raised UK subscription prices: the premium tier crossed £20 per month for the first time, and the ad-supported tier rose by approximately a third. The UK accounts for roughly 20% of EMEA revenue.

$PLTR shed 4.5%. A subsidiary landed eight U.S. Army TITAN systems — a genuine contract win. Michael Burry publicly exited his position, citing valuation. The contract was not sufficient to offset the Burry exit in Friday's session.

Chip stocks diverged: AMD, INTC, AMAT

$AMD gained 4.7%, $INTC added 4.5%, and $AMAT rose 4.3% — all moving against the session's rate-driven selling. Dell's quarterly earnings, which showed explosive server growth, were cited as direct evidence of x86 CPU demand; Intel is the most direct beneficiary. AMD and AMAT rose in sector sympathy.

$CEG gained 4.9% and $VST added 3.5%. Neither move has a clean dateable catalyst in today's coverage — analyst comparison pieces circulated for both names but do not constitute a discrete event.

What we set aside

Four filings were held because the underlying events occurred more than 36 hours ago. Three tickers — $COP, $V, and $WELL — were examined and produced no substantive news in the window.

Filings desk

Johnson & Johnson: an EVP exercised options and sold $4.4 million in $JNJ shares.

The desk is watching the 10-year yield at Monday's open — at 4.77%, any Fed commentary over the weekend or early auction demand will determine whether Friday's rate repricing holds.