RH soars after cheery earnings report, unchanged outlook

RH is up by double digits in early trading after it reported earnings that beat Wall Street estimates, quelling some investor fears that the business was doomed by President Trump’s tariff plans.

The company, formerly known as Restoration Hardware, reported earnings per share of $0.13, compared to the $0.09 loss analysts were expecting, despite slightly missing on revenue. The furniture retailer also kept its full-year outlook unchanged.

RH’s previous earnings report was on April 2, the day Trump announced widespread tariffs that rattled markets. The company’s CEO reacted to the stock crashing in real time that day. RH, which imports most of its products from China, is still down more than 40% this year.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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