Check out the companies making headlines before the market opens. GameStop — Meme shares fell 1.1% after “Roaring Kitty” Keith Gill appeared to increase his stake in GameStop. According to screenshots he posted on Reddit, he appears to hold 9.001 million GameStop shares and more than $6 million in cash. Adobe — Shares of Adobe soared 14.2% after the software company reported better-than-expected earnings and revenue, with new-year digital media revenue including Creative Cloud subscriptions topping analysts’ expectations. Adobe also raised its full-year guidance. On Friday, J.P. Morgan upgraded its shares to “overweight” from “neutral” and said Adobe will be “smoother moving forward” after posting a strong quarterly report. Hasbro – Bank of America upgraded the toy maker to buy from neutral, sending shares up 1.7%. Hasbro’s digital gaming strategy could drive a profit rebound in 2024 and 2025, the company said in a report on Friday. Shares fell 12.3%. 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’s revenue was $727 million, higher than analysts’ expectations of $725 million. Boeing Co. — The aircraft maker’s shares fell more than 1% after the Federal Aviation Administration launched an investigation into fake titanium alloys used in some recently produced planes, according to a report in the New York Times. Boeing is also under investigation for the potentially dangerous “Dutch Roll” incident that occurred on a Boeing 737 flight at the end of May. ZScaler – The cloud security stock rose 2% after JPMorgan upgraded the stock to “overweight” from “neutral.” The bank says Zscaler is the “best-in-class zero-trust cybersecurity provider” and is offering a discounted deal. —CNBC’s Alex Harring and Michelle Fox Theobald contributed reporting.
