Table of Contents

• Nike

• U.S. Stocks

Top Stories Today

Nike

Nike exceeded earnings expectations for its fiscal third quarter, delivering $11.27 billion in revenue and $0.54 earnings per share, outperforming Wall Street forecasts. However, profit dropped 32% year-over-year, and revenue declined 9%, driven by weak performance in China and a sharp sales slowdown after December. Despite the beat, Nike warned that upcoming quarterly revenue could fall in the low teens percentage range, with margins also under pressure due to deep discounts and lingering inventory. The company is also facing challenges from tariffs and reduced consumer demand, casting uncertainty over its turnaround efforts.

U.S. Stocks

U.S. stocks edged slightly higher Friday, closing a volatile week marked by tariff concerns and mixed corporate results. The S&P 500 posted a small daily gain and ended up 0.5% for the week, breaking a four-week losing streak. The Nasdaq and Dow also closed higher, supported by optimism following hints of flexibility on trade from President Trump. However, corporate earnings were a drag on sentiment. FedEx slumped over 6% after lowering its profit forecast, citing industrial sector weakness. Nike fell more than 5% after warning that upcoming quarterly revenue could fall.

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