On this episode of Stock Movers:
- International Consolidated Airlines Group shares fall as much as 4.3% after British Airways hub Heathrow Airport was forced to close all day Friday after a nearby fire caused a power outage. Disruption is likely to last for several days, according to Jefferies.
- FedEx shares slipped after lowering its full-year guidance for the third consecutive quarter due to inflation and uncertain demand for shipments. The company cited a "very challenging" operating environment, including a shorter peak shipping season and severe weather.
- Nike's shares fell in pre-market trading as the company signaled further declines in revenue and profitability due to an ongoing merchandise reset and the impact of US tariffs on products from China and Mexico. The company is trying to clear out old inventory through heavy discounting, but inventory levels remain "elevated across all categories", and gross margin is expected to decline sharply in the current quarter.
- Madison Square Garden Sports Class A trading volume jumped to more than five times the 20-day average for this time of day. Madison Square Garden Sports rose 2.2% to $199, but the shares are down 12% this year.
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