Unity Software Surges 5% as Traders Weigh Meta Platforms VR Glasses Support; Adobe Rises 3%, Intuit Adds 2%

The US Department of Labor suspended eight IT firms, including Infosys, TCS, Wipro, HCL, Cognizant, Capgemini, Microsoft, and Adobe, from applying for permanent residency for foreign workers. This move, ahead of US mid-term elections, aims to address domestic political concerns. Existing applications are on hold, and new ones will not be accepted, impacting H1B visa holders' prospects for permanent residency.

The Trump administration has suspended Microsoft, Adobe, and other tech firms from the PERM program, which aids foreign workers in obtaining green cards, citing alleged visa fraud. The suspensions, lasting up to 180 days, prevent these companies from processing new or pending labor certification applications. The move is seen as unprecedented and signals heightened immigration compliance risks for employers.

Salesforce agreed to acquire Braze for $5.66B to enhance its Marketing Cloud. Braze's real-time customer engagement tech complements Salesforce's data. Intuit acquired Sequence for $1.4B to improve mid-market revenue management. Robots & Pencils bought Tiger Pistol to scale AI-driven marketing.

Microsoft and 7 other tech companies face U.S. restrictions on sponsoring foreign workers for green cards, announced by the Trump administration on Oct. 8, 2026. The affected companies include Adobe, Cognizant, Infosys, Tata Consultancy Services, Wipro, HCL Technologies, and Capgemini. The Department of Labor will stop accepting new labor certification applications and processing pending ones for these companies, citing concerns about hiring practices.

The U.S. Department of Labor suspended PERM processing for Microsoft, Adobe, and six IT firms, affecting green card paths for tech workers. The suspension is limited to these companies and does not impact other green card options like EB-2 NIW or EB-1A. Pending PERM applications are paused but not denied, and new applications from these employers cannot proceed. Workers at affected companies may explore alternative green card pathways.

Intuit Inc. stock rose over 6% after announcing the acquisition of Sequence, an AI-native revenue management platform. The deal expands Intuit's offerings for mid-market businesses and enhances its Intuit Enterprise Suite and QuickBooks Online Advanced. Financial terms were not disclosed. Intuit reiterated its fiscal 2027 revenue guidance of $23.279B to $23.512B and adjusted EPS of $22.88 to $23.12. Analysts maintain Buy ratings with price targets ranging from $385 to $430.