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 — Shares of the software company rose 14.2% after reporting better-than-expected earnings and revenue and higher annual digital media revenue, including Creative Cloud subscriptions, than analysts had forecast. Adobe also canceled its full-year guidance. JPMorgan upgraded the stock to outperform from neutral on Friday, saying Adobe is poised for a “more smooth turnaround” 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 firm 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 posted revenue of $727 million, beating analysts’ estimates of $725 million. Boeing – Shares of the plane maker fell more than 1% after the US Federal Aviation Administration launched an investigation into the use of counterfeit titanium in some recently launched planes. , 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 overweight 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.
