Before you call, check out the companies that are making headlines. GameStop – Meme shares fell 1.1% after Keith Gill, known as “Growling Kitty”, appeared to increase his stake in GameStop. Based on a screenshot he posted on Reddit, he appears to own 9.001 million shares of GameStop and over $6 million in cash. Adobe — The software company’s shares soared 14.2% after reporting better-than-expected earnings and revenue, as well as higher annual digital media revenue, including Creative Cloud subscriptions, than analysts had expected. Adobe also canceled its full-year guidance. JPMorgan on Friday upgraded the stock from neutral to outperform, saying Adobe is poised for a “smoother path forward” after strong quarterly results. Hasbro – Bank of America upgraded its rating on the toy maker to neutral, sending shares up 1.7%. Hasbro’s digital gaming strategy could lead to a profit recovery in 2024 and 2025, the company said in a report Friday. RH: Shares of the luxury retailer fell 12.3% after reporting a much larger first-quarter loss per share than Wall Street had expected. . RH reported a loss of 40 cents per share, excluding items, while an analyst polled by LSEG expected a loss of 12 cents per share. On the other hand, the company reported revenue of $727 million, beating analysts’ estimates of $725 million. Boeing – The planemaker’s shares fell more than 1% after the US Federal Aviation Administration launched an investigation into the use of counterfeit titanium in some recently launched aircraft. , according to a New York Times report. Boeing is also under investigation for a late May incident involving a potentially dangerous Dutch roll on a Boeing 737. ZScaler – Cloud stocks rose 2% after JPMorgan upgraded its stock rating to outperform from neutral. . The bank said Zscaler is a “best-in-class zero trust network security provider” and is sold at a discount. — CNBC’s Alex Harring and Michelle Fox Theobald contributed reporting.
