0857 GMT - Adobe's long-awaited appointment of insider Anil Chakravarthy as chief executive allows the software group to move past a period of uncertainty, JPMorgan analysts write. Chakravarthy will replace Shantanu Narayen, who moves to the role of executive chair. "We believe the announcement is a positive in relation to addressing the uncertainty that has plagued new investor interest in the shares." Investors will monitor Chakravarthy's ability to position Adobe in the context of increasingly powerful AI, the analysts say. Adobe is among a number of software stocks that sold off sharply this year over fears that AI competition will compress margins. Investors had been considering an outside appointment to provide a fresh approach, the analysts say. Shares fall 3% premarket following the appointment.