Dow Slips as Nasdaq Hits New Record High; Telsa Leads Tech Stock Higher

RH Stock Sinks as Furniture Retailer Says Tariffs Hurt Results, Outlook

24 minutes ago

Shares of RH (RH) fell Friday, a day after the upscale furniture and home accessories retailer posted weaker-than-expected results and lowered its guidance on uncertainty about the impact of tariffs.

The company reported second-quarter adjusted earnings per share of $2.93 on revenue that rose 8% year-over-year to $899.2 million. Analysts surveyed by Visible Alpha were looking for $3.22 and $904.6 million, respectively.

RH said its performance was hurt by “the polarizing impact of tariff uncertainty and the worst housing market in almost 50 years.” A bright spot was its RH Gallery location in England, which saw demand up 76%, and online demand 34% higher.

The company noted that because of the tariffs, it has continued to move production out of China, and was now “aggressively responding” to the 50% duties the Trump administration has slapped on imports from India, which constitutes 7% of RH’s business. In addition, the company has increased operations at its North Carolina plant. 

RH explained that both macroeconomic uncertainties and its belief that inflation will increase significantly the rest of this year and next have led it to revise its outlook. The company now sees full-year adjusted EBITDA margin of 19% to 20%, down from the previous forecast of 20% to 21%. It anticipates revenue growth of 9% to 11%, compared to the earlier estimate of 10% to 13%.

RH shares were down 4% in recent trading and have lost about 45% of their value year-to-date.

-Bill McColl

Big Bank Executives Sound Off Ahead of Next Week’s Rate Decision

1 hr 17 min ago

Those who track economic data like sports box scores got a doubleheader this week. Inflation rose to its highest level since January, and the U.S. economy added far fewer jobs last year than previously thought, according to a pair of Bureau of Labor Statistics reports.

Meanwhile, the market is bracing for the Federal Reserve to cut interest rates for the first time this year when it meets next week. It’s been a busy week, and the CEOs of the Big Banks had a lot to say about it.

“I think the economy is weakening,” JPMorgan Chase (JPM) CEO Jamie Dimon said in an appearance on CNBC. “Whether it’s on the way to recession or just weakening, I don’t know.”

The Bureau of Labor Statistics estimated the U.S. economy added 911,000 fewer jobs in the 12 months through March 2025 than previously reported. The revision, while normal for the bureau as it gathers more information over time, was the largest preliminary adjustment on record, going back to 2000. 

Dimon said the Fed will “probably” lower interest rates when it meets Tuesday and Wednesday next week, but he noted that the widely expected adjustment may “not be consequential to the economy.”

Get the full story on what big bank executives think of the economy here.

-Andrew Kessel

Supermicro Stock Rises as Server Maker Begins Shipping Nvidia Blackwell Products

2 hr 15 min ago

Super Micro Computer (SMCI) shares gained on Friday as the computer hardware maker announced it was delivering products with Nvidia’s (NVDA) high-speed Blackwell Ultra chips for artificial intelligence computing.

The company explained that the Blackwell chips were in Supermicro’s Plug-and-Play (PnP)-ready NVIDIA HGX B300 systems and GB300 NVL72 racks.

Supermicro added that its total solution with the Blackwell chips is “fully integrated to combine the hardware with infrastructure software and application software, including NVIDIA AI Enterprise, NVIDIA Blueprints, and NVIDIA NIM to bring optimized AI performance to these powerful systems.”

Supermicro CEO Charles Liang said that his firm “has the best track record of fast and successful deployments of new NVIDIA technologies.”

Shares of Super Micro Computer advanced 3% Friday morning and are up nearly 50% this year. Nvidia shares edged higher in recent trading and have added a third of their value in 2025.

-Bill McColl

Warner Bros. Discovery Stock Extends Surge on Paramount Skydance Takeover Reports

3 hr 15 min ago

Shares of Warner Bros. Discovery (WBD) shot up for a second straight session Friday on reports rival Paramount Skydance (PSKY) was preparing to make a bid to take over its media rival.

The Wall Street Journal was the first to report the story, saying the deal was backed by the Ellison family. David Ellison is Paramount Skydance CEO, and his father is Oracle (ORCL) co-founder and billionaire Larry Ellison.

The newspaper noted that Paramount’s majority cash bid would be for all of Warner Bros. Discovery, including its cable networks and movie studio. It added that an offer hasn’t yet been made, and the plans could fall apart.

Warner Bros. Discovery shares closed 29% higher yesterday following the initial report, and were up a further 10% soon after the opening bell. Paramount Skydance shares advanced more than 3% Friday morning. Both are significantly higher this year.

In June, Warner Bros. Discovery announced it intended to split into two companies, one made up of its studios and HBO Max streaming service, while the other would own its cable channels like CNN and TNT. The Journal pointed out that the move by Paramount was aimed at pre-empting a potential bidding war for Warner’s studios and streaming service. 

Paramount Skydance was created last month after David Ellison’s Skydance Media completed its $8 billion takeover of Paramount Global.

-Bill McColl

Stock Futures Mostly Lower to Round Out Week Near Record Highs

4 hr 10 min ago

Futures contracts connected to the Dow Jones Industrial Average were down about 0.2% in premarket trading on Friday.

S&P 500 futures were off less than 0.1%.

Nasdaq 100 futures ticked up about 0.1%.