On this episode of Stock Movers:
- Nike’s turnaround effort is hitting snags as the company tries to clear out old inventory while feeling the effects of a growing trade war.Shares fell in trading Friday as the sportswear maker signaled further declines in revenue and profitability from an ongoing merchandise reset that the company says is necessary to renew growth. Nike also expects gross margin to decline sharply in the current quarter from a year earlier, in part due to US tariffs on products from China and Mexico.
- FedEx Corp. shares tumbled after the parcel delivery company lowered its full-year guidance for a third consecutive quarter, citing inflation and uncertain demand for shipments.Adjusted earnings are now expected to be in the range of $18 to $18.60 per share this fiscal year, below the $18.95 average analyst estimate. FedEx also cautioned that revenue may be slightly down versus the prior year, compared to its previous expectation that sales would be roughly flat.
- Luminar Technologies shares rose after the maker of sensors for automobiles posted 4Q revenue that topped estimates and provided guidance for 2025, including guidance for revenue growth of as much as 20%. The quarter’s sensor sales increased, both to Volvo and adjacent-market customers; Luminar shipped more than 4,000 of its Iris sensors to customers and the vast majority of these sensors were shipped to Volvo, CFO Tom Fennimore said on the earnings call
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