RH stock rises on outlook boost and returns to profitability

31 minutes ago

Shares of RH (RH) jumped in premarket trading after the luxury home furnishings retailer raised its full-year outlook and posted a profit in its fiscal third quarter.

The company forecasts full-year revenue growth of 6.8% to 7.2%, above its previous growth forecast of 5% to 7%.

In the third quarter, RH reported revenue of $811.7 million, up from $751.3 million in the same period last year. Earnings per share (EPS) for the company, formerly known as Restoration Hardware, were $1.66, a reversal from a loss of $0.12 a year ago.

“The positive performance of our business continued to gain momentum, with demand increasing 13% in the third quarter despite facing the worst real estate market in 30 years,” Chief Executive Officer (CEO) Gary Friedman said in a statement.

Friedman said he doesn’t expect the company’s margins to be hurt by President-elect Donald Trump’s plan to increase tariffs on the U.S.’s top trading partners.

RH stock was up 16% just before the opening bell on Friday.

–Nisha Gopalan

Broadcom Levels to Watch as Stock Rises After Earnings

1 hour and 11 minutes ago

Shares of Broadcom (AVGO) rose sharply in premarket trading on Friday after the chipmaker reported better-than-expected earnings and offered a rosy outlook amid robust AI-driven revenue growth.

The company announced last Thursday that its AI revenue more than tripled in fiscal 2024, driven by its AI XPUs and Ethernet networking portfolio. CEO Hock Tan told analysts on the company’s earnings call that he expects significant AI opportunities over the next three years, adding that he sees accelerator and network revenue between $60 billion and $90 billion in fiscal 2027.

The stock is expected to break out of an ascending triangle on Friday, setting the stage for a continuation of the stock’s longer-term upward trend.

The bar pattern tool, which extracts the stock’s uptrend from December 2023 to June this year and repositions it from the upper trendline of the ascending triangle, predicts an upside target of around $315.

Investors should keep an eye on key support levels on the Broadcom chart for declines near $185 and $140.

Broadcom shares rose 17% to $212 in recent premarket trading.

Read the full technical analysis article here.

–Timothy Smith

Stock futures point to a higher open for major indices

1 hour and 37 minutes ago

Futures tied to the Dow Jones Industrial Average rose 0.1%.

S&P 500 futures rose 0.4%.

Nasdaq 100 futures rose 0.8%.