Today's Morning Movers and Top Ratings: ADBE, RH, TSLA, HAS and More

$Adobe(ADBE.US)$ The software company's shares soared 14.2% after it reported earnings and revenue that exceeded expectations, along with an increase in annualized digital media revenue, which surpasses what analysts had projected. Additionally, Adobe revised its full-year guidance upwards, and JPMorgan upgraded the stock to overweight, citing potential for "smoother sailing ahead" after a strong quarterly performance.

$Hasbro(HAS.US)$  Shares of the toymaker rose 1.7% following an upgrade from Bank of America to buy from neutral. The firm expressed optimism about Hasbro’s digital gaming strategy potentially driving an earnings rebound in the years 2024 and 2025.

$Zscaler(ZS.US)$ Shares of the cloud security company increased by 2% after JPMorgan upgraded the stock to overweight. JPMorgan highlighted Zscaler as a leading Zero Trust Network Security vendor that is currently trading at a discount.

$Tesla(TSLA.US)$ stock rose 1.1% after the electric vehicle manufacturer’s shareholders voted in favor of a controversial $56 billion pay package for CEO Elon Musk, as well as the company’s reincorporation in Texas.

$GameStop(GME.US)$ The stock dipped 1.1% following indications that Keith Gill, also known as "Roaring Kitty," had increased his stake in the company. According to a screenshot he shared on Reddit, he now appears to hold 9.001 million shares of GameStop and over $6 million in cash.

$Restoration Hardware(RH.US)$ Shares of the high-end retailer plunged 12.3% after it reported a first-quarter loss per share of 40 cents, excluding items, which was significantly wider than the 12-cent loss expected by analysts. Despite this, RH’s revenue was $727 million, slightly above the $725 million estimate.

$Boeing(BA.US)$ The aircraft manufacturer's shares fell more than 1% after reports that the Federal Aviation Administration is investigating the use of counterfeit titanium in some of its recently manufactured planes, and also due to an investigation into a "Dutch roll" incident on a Boeing 737 flight in late May.