Trending tickers: Nike, Trump Media, Walgreens, L'Oreal
Nike (NKE)
Shares in sportswear giant Nike sank in premarket trade on Friday, after it issued a full-year outlook that missed expectations, with revenue declining in the mid-single digits in the company’s current fiscal year. Analysts had expected growth of about 2%, according to Bloomberg.
The company said quarterly revenue in the fourth quarter fell 2% from the year prior to $12.61bn, below Wall Street's estimates for $12.9bn. Nike's $0.99 earnings per share exceeded analysts' expectations of $0.66. Nike's direct-to-consumer sales declined 8% from the same quarter a year ago to $5.1bn.
Shares were trading as much as 13% lower in premarket. The news also hit London-listed JD Sports (JD.L) which was one of the top fallers in the FTSE 100.
Trump Media (DJT)
The share price of Donald Trump's media company looked set to regain Thursday's losses when markets open later on in the US, with premarket data suggesting a rise of almost 8% at the opening bell, after the first presidential debate was aired last night.
Polls showed two-thirds of voters thought Trump ‘won’ the debate, sending confidence in his SPAC-listed company higher.
Shares in the company, which owns Truth Social, have dipped in recent weeks as the presidential race plays out and the company filed for a resale of stock.
Walgreens (WBA)
Walgreens Boots Alliance stock plummeted 22% on Thursday, its worst trading in at least four decades, closing at $12.19 per share.
The stock slumped on the news the company slashed its profit guidance, the second time it has adjusted guidance downward this year.
Walgreens now estimates earnings per share of between $2.80 and $2.95, down from guidance of $3.20 to $3.35 last quarter — when it narrowed guidance on the upper end.
Investors are watching the company closely as CEO Tim Wentworth executes a new strategy for the company. He is focused on what he views as revitalising pharmacies and pulling back on healthcare services through VillageMD — of which Walgreens is no longer a major stakeholder.
L'Oreal (OR.PA)
Beauty product giant L'Oreal saw its stock dip more than 2.7% on Friday following a revision of its global beauty market growth forecast from 5% to a range of 4.5-5%.
The revision is reaction to volatility in China — an important market for the brand.
The share price is now at its lowest point since mid-April.
Watch: S&P 500 and Nasdaq, Boeing, recession warnings: Market Domination Overtime
