Check out the companies making headlines before the bell. GameStop – The meme stock fell 1.1% after Keith Gill, known as “Roaring Kitty,” apparently increased his ownership in GameStop. He appears to own 9,001 million shares of GameStop stock and more than $6 million in cash, according to a screenshot he posted on Reddit. Adobe – Shares of the software company rose 14.2% after it reported better-than-expected earnings and revenue, with annual digital media revenue, which includes Creative Cloud subscriptions, higher than analysts expected. Adobe also raised its full-year guidance. JPMorgan upgraded shares to overweight from neutral on Friday, saying Adobe is poised for “smoother sailing ahead” following its strong quarterly print run. Hasbro – Bank of America upgraded the toy maker to buy from neutral, sending shares up 1.7%. Hasbro's digital gaming strategy could lead to an earnings rebound in 2024 and 2025. RH – The upscale retailer fell 12.3% after reporting a much larger loss per share in the first quarter than Wall Street expected, the company said in a note Friday. RH reported a loss of 40 cents per share, excluding items, while analysts polled by LSEG expected a loss of 12 cents per share. On the other hand, the company saw revenue of $727 million, beating analysts' estimates of $725 million. Boeing — Shares of the plane manufacturer fell more than 1% after The New York Times reported that the Federal Aviation Administration opened an investigation into counterfeit titanium used in some newly manufactured planes. Boeing is also under investigation for a late May incident involving a potentially dangerous “Dutch roll” motion on a Boeing 737. ZScaler – The cloud security stock added 2% after an upgrade at JPMorgan to overweight from neutral. Zscaler is a “best-in-class Zero Trust Network Security vendor” and is trading at a discount, the bank said. — CNBC's Alex Haring and Michelle Fox Theobald contributed reporting.
Trending
- How to Position Yourself for a Global Tech Slowdown, According to Morgan Stanley
- Two big tests are coming that will determine whether last week's stock market excitement was justified.
- How a 'seriously outstanding tax debt' can lead to your passport being revoked
- Hezbollah fires rockets at Israel in revenge for its supreme leader
- Boeing Starliner Returns Empty, NASA Enlists SpaceX to Transport Astronauts
- Dividend Stocks Are a Hot Pick in the Fall Due to the Fed and Interest Rates
- Biden speaks with Zelensky, announces new military aid to Ukraine
- Meta says WhatsApp accounts linked to Iranian hackers targeted Biden, Trump
Stocks making the biggest moves in pre-market: ADBE, HAS, GME
