Friday's First Moves: RH & KR Earnings Mixed, NVO Downgrade
RH (Restoration Hardware) shares rose more than 2% after beating second-quarter earnings expectations with adjusted EPS of $2.70 and revenue up 2.6% to $922 million, helped by a one-time $55 million tariff refund. Kroger shares also rose by 1.5% despite lowering its full-year sales outlook, after reporting in-line fiscal second-quarter sales of $34.6 billion and beating adjusted earnings expectations at $1.09 per share.
RH's performance suggests it is navigating macro headwinds in the housing market better than expected, while Kroger's efforts to compete on price reflect ongoing consumer demand for value amidst higher gas prices and less brand loyalty.
The video also covers Morgan Stanley downgrading Novo Nordisk due to concerns about its reliance on semaglutide and future patent expirations.
RH EARNINGS KROGER EARNINGS NOVO NORDISK DOWNGRADE MORGAN STANLEY