Adobe, RH And 3 Stocks To Watch Heading Into Friday

Adobe (NASDAQ:ADBE)

Adobe Extends Rally to Fresh All-Time High

Adobe (NASDAQ:ADBE) shares extended their rally on Thursday, hitting a fresh all-time high of $375. The stock has been on a tear in recent months, thanks to strong demand for its creative software and digital marketing solutions.

In its latest earnings report, Adobe reported strong growth in its digital media segment, which includes its Creative Cloud and Document Cloud businesses. The company also reported strong growth in its digital experience segment, which includes its Experience Cloud marketing and analytics platform.

Analysts are bullish on Adobe's long-term prospects, citing the company's strong competitive position in the digital media and digital experience markets. Adobe is also benefiting from the secular tailwinds of digital transformation, which is driving demand for its software and services.

RH (NYSE:RH)

RH Jumps 5% on Strong Earnings Report

RH (NYSE:RH) shares jumped 5% on Thursday after the company reported strong earnings for its fiscal first quarter.

The home furnishings retailer reported a 17% increase in net revenue to $866 million, driven by strong demand for its high-end furniture and home décor products.

RH also reported a 19% increase in comparable sales, a key metric for retailers. The company's gross margin also expanded by 100 basis points to 60.1%.

3 Stocks to Watch Heading Into Friday

In addition to Adobe and RH, here are three other stocks to watch heading into Friday:

• Apple (NASDAQ:AAPL): Apple shares are trading near their all-time high, thanks to strong demand for the company's iPhone 13 lineup. The company is also benefiting from the growth of its services business, which includes the App Store, Apple Music, and iCloud.
• Microsoft (NASDAQ:MSFT): Microsoft shares are also trading near their all-time high, thanks to strong demand for its cloud computing services. The company is also benefiting from the growth of its gaming business, which includes the Xbox console and Game Pass subscription service.
• Amazon (NASDAQ:AMZN): Amazon shares are trading near their all-time high, thanks to strong demand for the company's e-commerce and cloud computing services. The company is also benefiting from the growth of its advertising business.