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Nike Fourth-Quarter Revenue Slips as Expected Tariff Refunds Boost Earnings
US Markets

Nike Fourth-Quarter Revenue Slips as Expected Tariff Refunds Boost Earnings

Nike's (NKE) fiscal fourth-quarter revenue slipped year-over-year, while the sportswear company's earnings got a boost from expected tariff refunds.Revenue fell 1% to $10.97 billion for the quarter ended May 31, topping the FactSet-polled consensus of $10.85 billion. Earnings per share soared 414% to $0.72, driven by a $0.52 benefit related to the expected recovery of trade tariffs.The US Supreme Court in February invalidated President Donald Trump's reciprocal tariffs imposed under the International Emergency Economic Powers Act."We delivered fourth-quarter results in line with our expectations, demonstrating financial discipline in an increasingly challenging operating environment, where sell-through remains challenged," Chief Financial Officer Matthew Friend said in a statement.The stock fell 4.3% in after-hours trade, and is down 36% this year through Tuesday close.Revenue for the Nike brand was virtually flat at $10.72 billion, weighed down by a 12% drop in China. North American sales grew 3%, while Europe, the Middle East and Africa fell 1%.Consolidated equipment and footwear revenue for the Nike brand declined.Chief Executive Elliott Hill acknowledged the company continues to face top-line headwinds, but said it remains focused on "consistent execution" and profitability.Macro pressures and internal challenges were expected to drive a soft quarterly performance at Nike, Oppenheimer said Friday. The brokerage said 2026 is shaping up to be a restructuring year for Nike and recommended staying on the sidelines until there's more visibility into a broader recovery.Last week, Nike said David Denton will join the company as chief financial officer in August, succeeding Friend. Denton has served as CFO of Pfizer (PFE) since May 2022.

$NKE$PFE
Update: Equity Markets Rise Intraday, Poised for Strong Quarterly Gains
US Markets

Update: Equity Markets Rise Intraday, Poised for Strong Quarterly Gains

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday, led by gains in the technology sector, and poised to close out a winning quarter and first half of the year.The Nasdaq Composite was up 1.4% at 26,172.6 after midday Tuesday -- the last trading session of June -- while the S&P 500 rose 0.7% to 7,495.2. The Dow Jones Industrial Average added 0.3% to 52,362.8, following a record-high close in the previous session.The S&P 500 and the Nasdaq were headed for their best quarter in six years, while the Dow was on track for its best quarterly gain since 2022, news outlets reported. The Dow was poised for its best first-half performance since 2021, while the S&P 500 and the Nasdaq were also higher, CNBC reported.Among sectors, tech paced the gainers intraday Tuesday with a 2.2% jump, while real estate saw the steepest decline.Within tech, chip-related stocks mainly led gains, with Intel (INTC) up 7.7%, among the top performers on the S&P 500. Nvidia (NVDA) rose 1.7%, the third-best performer on the Dow. Advanced Micro Devices (AMD), Sandisk (SNDK), and Marvell Technology (MRVL) were also notable gainers on the S&P 500.AeroVironment (AVAV) shares jumped nearly 19% as the drone maker overnight reported stronger-than-expected fiscal fourth-quarter results and issued an upbeat full-year revenue outlook at the midpoint.Zimmer Biomet (ZBH) shares were down 6.9% intraday Tuesday, the worst performer on the S&P 500.Sportswear giant Nike (NKE) and beer and wine company Constellation Brands (STZ) are expected to release their latest quarterly results after the closing bell Tuesday.West Texas Intermediate crude oil was down 1.4% at $69.75 a barrel intraday, while Brent slipped 0.3% to $72.95.WTI and Brent were headed for a steep decline for the month of June as oil prices sold off after the US and Iran agreed to a memorandum of understanding to end their war. In May, crude prices tumbled about 17%."Oil prices traded within a relatively tight range near recent lows while remaining on track for their biggest quarterly decline since the pandemic," Saxo Bank said in a report Tuesday.US special envoys Steve Witkoff and Jared Kushner, who are in Doha, will meet Qatari mediators, not Iranian officials, CNN reported, citing Qatar's Foreign Ministry.US Treasury yields were higher intraday, with the 10-year rate up 3.3 basis points at 4.41% and the two-year rate rising 2.2 basis point to 4.14%.In economic news, US consumer confidence edged higher in June as falling oil prices amid an extended US-Iran ceasefire eased inflation fears, the Conference Board said.US home price growth accelerated annually in April, though the value of homes continued to deteriorate in real terms as high inflation outpaced price gains, S&P Global (SPGI) division S&P Dow Jones Indices said.Gold was little changed at $4,039.40 per troy ounce, while silver climbed 2.1% to $59.86 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AVAV$INTC$MRVL$NKE$NVDA$SNDK$SPGI$STZ$ZBH
Stocks Rise Pre-Bell as Markets Head for Strong Second-Quarter Finish
US Markets

Stocks Rise Pre-Bell as Markets Head for Strong Second-Quarter Finish

The benchmark US stock measures rose before the bell Tuesday as markets head toward a strong finish to the second quarter.The S&P 500 and the Nasdaq edged up 0.1% each in premarket activity, while the Dow Jones Industrial Average added 0.2%. The indexes finished the previous trading session in the green, with the Dow hitting a fresh all-time high.The S&P 500 and the Nasdaq Composite were headed for their best quarter in six years, while the Dow was on track for its best quarterly gain since 2022, Reuters reported.US markets will be closed on Friday in observance of the Independence Day holiday, which falls on a Saturday this year.Markets were buoyed after the US Supreme Court on Monday rejected President Donald Trump's request to overturn a lower court's ruling that prevented him from firing Federal Reserve Governor Lisa Cook.In August 2025, Trump attempted to fire Cook over mortgage fraud allegations. Cook challenged the decision in a federal court, which issued a temporary restraining order that blocked the attempted removal.Iran reportedly said Monday that no talks were scheduled with the US in the coming days, despite Trump saying Washington will meet with Tehran in Qatar on Tuesday. Both sides recently engaged in attacks in and around the Strait of Hormuz, but agreed to pause hostilities to continue talks on a peace deal reached earlier in the month.West Texas Intermediate crude oil rose 0.3% to $70.97 a barrel before the opening bell, while Brent ticked up 0.1% to $73.22.Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for April, at 9 am ET. The Chicago purchasing managers' index for June posts at 9:45 am, followed by the consumer confidence report for the same month at 10 am.The Job Openings and Labor Turnover Survey for May is also out at 10 am. Cleveland Fed President Beth Hammack is scheduled to speak at 10:40 am.Treasury yields were down in premarket action, with the two-year rate retreating 0.5 basis points to 4.1% and the 10-year rate off 0.7 basis point to 4.37%.Shares of AeroVironment (AVAV) jumped 24% pre-bell as the drone maker reported stronger-than-expected fiscal fourth-quarter results and issued an upbeat full-year revenue outlook at the midpoint. Super Micro Computer (SMCI) rebounded 1.9% following an 8.1% drop at the close of Monday.Rocket Lab (RKLB) rose 3.3% after closing the previous session up 16%. The company recently agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal worth about $8 billion to create a vertically-integrated space company.Sportswear giant Nike (NKE) and beer and wine company Constellation Brands (STZ) are expected to release their latest quarterly results after the markets close.Gold inched higher at $4,040 per troy ounce, while bitcoin fell 1.7% to $59,275.

Dow JonesNasdaq CompositeS&P 500$AVAV$IRDM$NKE$RKLB$SMCI$STZ
Update: Dow Posts New High to Kick Off Holiday-Shortened Trading Week
US Markets

Update: Dow Posts New High to Kick Off Holiday-Shortened Trading Week

(Updates with market moves at the end of the day.)The Dow Jones Industrial Average hit a fresh all-time high at the start of what will be a short trading week.The Dow rose 0.6% to settle at 52,182.7 on Monday, closing above 52,000 for the first time. The Nasdaq Composite advanced 2.1% to 25,820.1, while the S&P 500 climbed 1.2% to 7,440.3, with both indexes rebounding after a five-day losing streak. Among sectors, communication services paced the gainers, while materials saw the sharpest drop.The New York Stock Exchange and Nasdaq will be closed on Friday in observance of the Independence Day holiday, which falls on a Saturday this year.Iran said that no talks were scheduled with the US in the coming days, despite President Donald Trump saying Washington will meet with Tehran in Qatar on Tuesday, CNN reported.Both sides engaged in attacks in and around the Strait of Hormuz.West Texas Intermediate crude oil was up 1.8% at $70.45 a barrel in Monday late-afternoon trade, while Brent advanced 1.1% to $72.78.US Treasury yields were higher, with the two-year rate up 1.1 basis points at 4.11% and the 10-year rate rising 0.7 basis points to 4.38%.In company news, Alphabet's (GOOGL) class A shares jumped 4.8%, the top gainer on the Dow, as the Google parent joined the index, replacing Verizon Communications (VZ), which fell 5.2%.Alphabet's class C shares (GOOG) rose 5%.Comcast (CMCSA) said it plans to split into two publicly traded companies, separating its NBCUniversal and Sky media businesses from its broadband and connectivity operations. Comcast shares advanced 4.5%.Honeywell International (HON) shares fell 6.4%, the worst performer on the Dow and third-biggest drop on the S&P 500. The company completed the spinoff of its aerospace business into an independent publicly traded company.Martin Marietta Materials (MLM) agreed to combine with limestone supplier Lhoist North America in a $13.5 billion deal. Shares of the American building materials supplier slumped 5.7%, among the steepest declines on the S&P 500.Nike (NKE), Constellation Brands (STZ) and General Mills (GIS) are expected to release their latest financial results this week.Gold was down 1.7% at $4,028.80 per troy ounce, while silver dropped 1% to $58.66 per ounce.

Dow JonesNasdaq CompositeS&P 500$CMCSA$GIS$GOOG$GOOGL$HON$MLM$NKE$STZ
Update: Equities Rise Intraday as US, Iran Halt Hostilities Ahead of Qatar Meeting
US Markets

Update: Equities Rise Intraday as US, Iran Halt Hostilities Ahead of Qatar Meeting

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday as Washington and Iran agreed to halt renewed hostilities, while US President Donald Trump said the two countries will hold a meeting Tuesday.The Nasdaq Composite was up 1.9% at 25,771.3 after midday Monday, while the S&P 500 rose 1.1% to 7,433.8. The Dow Jones Industrial Average advanced 0.7% to 52,217.3. Among sectors, communication services paced the gainers, while materials saw the sharpest drop.On Sunday, the US and Iran agreed to cease attacks on each other and allow commercial vessels to pass freely through the Strait of Hormuz, CNBC reported. "Technical talks are slated to continue on all areas of the (memorandum of understanding)," a US official told CNBC. "Both sides will stand down for now and vessels can move freely."In a social media post Monday, Trump said Iran has requested a meeting that will take place in Doha, Qatar, Tuesday.West Texas Intermediate crude oil was up 2.4% at $70.92 a barrel intraday Monday, while Brent advanced 1.8% to $73.31."Renewed US-Iran tensions failed to materially lift oil prices," ING Bank said in a note. "While the oil market is technically in oversold territory, momentum appears to still be to the downside."US Treasury yields were higher intraday, with the two-year rate up 2.5 basis points at 4.11% and the 10-year rate rising 1.3 basis points to 4.38%.In company news, Alphabet's (GOOGL) class A shares were up 4.8% intraday, the top gainer on the Dow, as the Google parent joined the index, replacing Verizon Communications (VZ), which fell 5.8% and was the second-worst performer on the S&P 500.Alphabet's class C shares (GOOG) rose 5.1%.Comcast (CMCSA) said it plans to split into two publicly traded companies, separating its NBCUniversal and Sky media businesses from its broadband and connectivity operations as the media giant aims to boost strategic focus for each unit. Comcast shares were up 5.7%.Honeywell International (HON) shares were down 2.7%, the worst performer on the Dow. The company completed the spinoff of its aerospace business into an independent publicly traded company.Nike (NKE), Constellation Brands (STZ) and General Mills (GIS) are expected to release their latest financial results this week. AeroVironment (AVAV) and Concentrix (CNXC) are scheduled to report after the closing bell Monday.Gold was down 1.4% at $4,040.50 per troy ounce, while silver dropped 1.1% to $58.56 per ounce.

Dow JonesNasdaq CompositeS&P 500$AVAV$CMCSA$CNXC$GIS$GOOG$GOOGL$HON$NKE$STZ
Stocks Rise Pre-Bell as US-Iran Agree to Halt Renewed Hostilities; Traders Await Fresh Labor Data
US Markets

Stocks Rise Pre-Bell as US-Iran Agree to Halt Renewed Hostilities; Traders Await Fresh Labor Data

The benchmark US stock measures were tracking in the green before the opening bell Monday as the US and Iran agreed to halt renewed hostilities, while traders await fresh labor market data later in the holiday-shortened week.The S&P 500 rose 0.5%, the Dow Jones Industrial Average increased 0.2% and the Nasdaq added 0.8% in premarket activity. The indexes finished Friday trading lower, with the Nasdaq extending its losses for a fifth consecutive session.US markets will be closed on Friday for the July 4 Independence Day holiday.The US and Iran agreed on Sunday to cease attacks on each other and allow commercial vessels to pass freely through the Strait of Hormuz, CNBC reported. "Technical talks are slated to continue on all areas of the (memorandum of understanding)," a US official told CNBC. "Both sides will stand down for now and vessels can move freely."The US launched a fresh round of strikes against multiple targets in Iran over the weekend, the US Central Command said in a statement on Saturday. The attacks came amid reports that Iran had carried out strikes on eight key US military installations across the Middle East.Last week, President Donald Trump accused Tehran of violating the ceasefire agreement signed earlier in the month by attacking ships passing through the strait with drones. "There may come a point when we are no longer able to be reasonable, and will be forced to militarily complete the job that we very successfully started," Trump said in a social media post on Saturday.West Texas Intermediate crude oil inclined 1.7% to $70.42 a barrel before the open, while Brent advanced 1.4% to $72.96.Investors will be looking ahead to fresh labor market data later this week, beginning with the Job Openings and Labor Turnover Survey for May on Tuesday, followed by the ADP employment report and the Challenger Job Cut report, both for June, on Wednesday. The government's nonfarm payrolls data for June is scheduled to be released on Thursday.Treasury yields were trending upwards in premarket action, with the two-year rate increasing 2.1 basis points to 4.11% and the 10-year rate rising 1 basis point to 4.38%.Last week, government data showed that consumer spending rose more than projected in May, while the Federal Reserve's preferred inflation metric accelerated to the fastest reading in more than two years.Minneapolis Federal Reserve President Neel Kashkari reportedly said Friday that an interest rate increase looks necessary this year.Consumer sentiment increased in June amid moderating gasoline prices, while inflation expectations eased, according to a survey by the University of Michigan on Friday.Monday's thin economic calendar has the Dallas Fed manufacturing survey for June at 10:30 am ET.Comcast (CMCSA) shares jumped 18% pre-bell after the company announced plans to separate its media and technology businesses into two publicly traded entities. Verizon Communications (VZ) edged down 0.2% as the telecommunications giant agreed with UK-based BT Group to combine their international businesses in a joint venture.Nike (NKE), Constellation Brands (STZ) and General Mills (GIS) are expected to release their latest financial results this week. AeroVironment (AVAV) and Concentrix (CNXC) post their earnings after the markets close Monday.Gold declined 1.1% to $4,052 per troy ounce, while bitcoin gained 1.3% to $60,117.

Dow JonesNasdaq CompositeS&P 500$AVAV$CMCSA$CNXC$GIS$NKE$STZ$VZ
Wire

Nike Fiscal Q4 Results Expected to Remain Soft, Oppenheimer Says

Nike's (NKE) fiscal Q4 results are expected to remain soft, driven by continued internal dislocations and macro challenges in the US and abroad, Oppenheimer analysts said in a Friday note.The company is expected to report its fiscal Q4 financial results on Tuesday.The company's leadership is expected to highlight ongoing, increasingly aggressive repositioning efforts, analysts said."Nearer term, while we are encouraged that investor sentiment towards shares is now largely 'washed out,' we recommend clients remain on the sidelines, awaiting clearer signals of more broad-based recovery," Oppenheimer said.Oppenheimer expects the company to report fiscal Q4 earnings of $0.10 per share. Analysts polled by FactSet expect $0.13.Analysts retained an outperform rating on the stock, but lowered their price target to $60 from $120.Price: $40.93, Change: $+0.03, Percent Change: +0.07%

$NKE
Nike Likely to Report 'Soft' Quarterly Results Amid Near-Term Challenges, Oppenheimer Says
Wire

Nike Likely to Report 'Soft' Quarterly Results Amid Near-Term Challenges, Oppenheimer Says

Nike (NKE) is expected to report "soft" quarterly results next week amid internal business challenges and macro pressures in key markets, Oppenheimer said Friday.Nike is likely viewing 2026 as a restructuring year, the brokerage said in a note, adding that investor sentiment around the stock is now largely "washed out." The brokerage maintained a cautious stance, recommending investors stay on the sidelines until clearer signs of a broad-based recovery emerge.Nike is scheduled to report its fiscal fourth-quarter results on June 30. Analysts polled by FactSet expect the company to post adjusted earnings per share of $0.13 and revenue of $10.85 billion. The brokerage expects fiscal fourth-quarter earnings of $0.10 per share on revenue of about $10.8 billion.Earlier this week, Nike said David Denton will join the company as chief financial officer, effective Aug. 17, succeeding Matthew Friend. Oppenheimer flagged the CFO transition as a potential source of near-term uncertainty. "We are concerned that a forthcoming CFO transition is likely to impact abilities of the company to update nearer-term financial guidance, effectively, thereby potentially spurring more volatility in shares," Oppenheimer analyst Brian Nagel said in the note."Overall, we expect more of the same, with leadership highlighting ongoing, increasingly aggressive repositioning efforts, but results, while largely in line, still soft, owing to continued internal dislocations and macro challenges in the US and abroad," Nagel wrote.In China, Oppenheimer expects Nike's strategic repositioning efforts to continue but believes persistent market weakness will likely prevent management from outlining a clear turnaround timeline. Guidance implies China sales declined about 20% during the fiscal fourth quarter, the note said.Oppenheimer reiterated its outperform rating on Nike but lowered its price target to $60 from $120.Price: $40.93, Change: $+0.03, Percent Change: +0.07%

$NKE
Research

KeyBanc Downgrades NIKE to Sector Weight From Overweight

NIKE (NKE) has an average rating of overweight and mean price target of $57.15, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$NKE
Wire

Nike's Long-Term Recovery Potential Looks Promising Under New CFO David Denton, Oppenheimer Says

Nike's (NKE) operational weakness is expected to persist for at least the next few quarters, though its intermediate- to longer-term recovery prospects under new CFO David Denton, a retail and consumer veteran, appear promising, Oppenheimer said Tuesday in a note.The brokerage said it remains upbeat about recent "wins" at Nike, including new product innovation and the successful restructuring of core wholesale relationships domestically.Conversations with clients suggest the near-term sentiment toward Nike may now be possibly "washed out", implying the shares could trade sideways in the worst case scenario, until clearer positive fundamental catalysts emerge, according to the note.Oppenheimer kept an outperform rating on Nike.Price: $41.93, Change: $-0.45, Percent Change: -1.06%

$NKE
Sectors

Sector Update: Consumer Stocks Advance Pre-Bell Wednesday

Consumer stocks were edging higher pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) marginally advancing and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.2%.Wendy's (WEN) named Steve Cirulis as chief financial officer, effective Tuesday, succeeding Ken Cook. Shares of Wendy's were up more than 30% premarket.Take-Two Interactive Software's (TTWO) Rockstar Games will open pre-orders for "Grand Theft Auto VI" on Thursday at midnight local time, the video game publisher said. Take-Two Interactive Software stock was up nearly 3% pre-bell.Nike (NKE) said David Denton will join as its chief financial officer and executive vice president on Aug. 17, replacing Matthew Friend, who will step down at that time and remain through Sept. 4 to support the transition. Nike shares were 0.8% lower premarket.

$NKE$TTWO$WEN$XLP$XLY
Wire

Nike Shares Fall After Evercore ISI Downgrade

Nike (NKE) shares fell 1.2% in Tuesday trading after Evercore ISI downgraded the stock to in line from outperform and lowered the price target to $46 from $57.Intraday volume topped 15.2 million shares, compared with the daily average of 23.5 million.Price: $42.68, Change: $-0.51, Percent Change: -1.18%

$NKE
Research

Evercore ISI Downgrades NIKE to In Line From Outperform, Adjusts Price Target to $46 From $57

NIKE (NKE) has an average rating of overweight and mean price target of $58.81, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$NKE
Wire

Nike Faces Slight Downside to Q1 Guidance After Weak Sales Trends, UBS Says

Nike (NKE) is likely to issue Q1 guidance with a slightly negative upside/downside skew, following lackluster global sales momentum through May, UBS Securities said.The company is set to release its fiscal Q4 results on June 30.UBS said in a Tuesday note that it expects Nike's earnings per share to be "roughly in-line" with market consensus. It also expects the company to issue a Q1 EPS outlook in the range of 32 to 44 cents, below the Street view of 45 cents, alongside sales down low-single digits.The investment firm said its channel checks pointed to weak direct-to-consumer sales in Europe, the Middle East and Africa during fiscal Q4. Sales trends in China and Europe continued to be pressured, while US sales growth was weak during the quarter, the brokerage added.Nike investors have also indicated concerns that the company's turnaround in China and EMEA are taking longer than expected, and over its capacity to sustain momentum in running, according to the note.UBS cut its price target on Nike to $50 from $54, with a neutral rating.Shares of Nike were down nearly 1% in Wednesday trading.Price: $44.25, Change: $-0.41, Percent Change: -0.91%

$NKE
Wire

Nike Turnaround Could Take Longer Despite New Growth Drivers, RBC Says

Nike's (NKE) turnaround is likely to remain slow through the rest of 2026 as product progress, inventory cleanup, direct sales recovery and new growth drivers may take longer to have an effect, RBC Capital Markets said in a note Wednesday.Nike is making progress under CEO Elliott Hill, including changes to the organization, wholesale business, sports-focused teams and running category, but product improvement is still not broad enough and Nike's revenue growth outlook remains weaker than the wider sector, which could point to further market share pressure, the investment firm said.Nike needs better full-price direct-to-consumer sales, while tighter buying from Dick's Sporting Goods (DKS) and Foot Locker (FL) could affect underperforming styles in wholesale, RBC said.The company could beat Q4 expectations if North America wholesale demand and World Cup-related orders are strong, but RBC said an improvement in direct-to-consumer sales is also necessary, but not as likely.RBC downgraded Nike to sector perform from outperform and cut its price target to $50 from $70, saying there are limited near-term reasons for the stock to move higher.Price: $44.21, Change: $-0.44, Percent Change: -0.99%

$DKS$FL$NKE
Nike Near-Term Catalysts Limited as Turnaround Progress Is Slower Than Expected, RBC Says
US Markets

Nike Near-Term Catalysts Limited as Turnaround Progress Is Slower Than Expected, RBC Says

Nike (NKE) has limited near-term catalysts amid slower-than-expected progress on its turnaround plans under Chief Executive Elliott Hill, RBC Capital Markets said in a client note Wednesday.The company is unlikely to see a sustained shift in revenue trends for the rest of 2026 despite the upcoming FIFA World Cup, amid ongoing "clean-up" activities and a lack of new growth engines, the brokerage said.RBC said Nike is making visible operational progress, including organizational changes, a wholesale rebuild, sports-aligned operating units, and improvements in its running segment. However, this progress is "slower and narrower" than the brokerage's expectations, the note said."Execution speed is not as quick as we would like on product and inventory clearance, with the remainder of (calendar year) 2026 unlikely to deliver positive revenue growth," RBC analyst Piral Dadhania wrote. "Sufficient breadth on product progress remains the challenge, in our view."Nike shares have decreased 50% since Hill took over as CEO, while earnings per share are down about 40%, Dadhania said.Hill assumed the top role at the athletic apparel giant in October 2024.RBC downgraded Nike's stock to Sector Perform from Outperform, lowering the price target to $50 from $70.For the fiscal fourth quarter, RBC forecasts earnings per share of $0.11 and about $10.8 billion in revenue. Analysts polled by FactSet expect earnings of $0.12 per share on sales of $10.58 billion.Nike is expected to release its fiscal fourth-quarter results on June 30."A top-line beat driven by North America wholesale strength and World Cup sell-in is feasible," RBC said. "However, we would also like to see (direct-to-consumer) improvement which is not as likely in our view."

$NKE
Research

RBC Downgrades NIKE to Sector Perform From Outperform, Adjusts PT to $50 From $70

NIKE (NKE) has an average rating of overweight and mean price target of $59.18, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$NKE
Research

Wells Fargo Downgrades NIKE to Equalweight From Overweight, Adjusts Price Target to $45 From $55

NIKE (NKE) has an average rating of overweight and mean price target of $60.18, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$NKE
Sectors

Sector Update: Consumer Stocks Mixed Pre-Bell Friday

Consumer stocks were mixed pre-bell Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.5% higher.Procter & Gamble (PG) shares were up more than 3% after the company posted higher fiscal Q3 core earnings and net sales.Coursera (COUR) stock was down more than 17% after the company reported a decline in Q1 non-GAAP earnings.Nike (NKE) plans to cut 1,400 jobs in global operations, with most of the reductions coming in the technology division. Nike shares were 0.4% higher premarket.

$COUR$NKE$PG$XLP$XLY
Wire

Nike Picked Stock of the Week at Smart Insider Following Renewed Insider Buying

Nike (NKE) was named Smart Insider's stock pick of the week after insider purchases resumed following a recent decline in the share price.Smart Insider said it previously ranked the stock +1 on Dec. 24 after a $3 million share purchase by Lead Independent Director Timothy Cook at $59 per share, alongside $500,000 purchases each from directors Robert Swan and Jorgen Knudstorp.Chief Executive Elliott Hill also spent $1 million in December following the upgrade, according to Smart Insider.After reporting Q3 results on March 31, the stock has fallen about 25% since December, Smart Insider said, adding that insiders responded with additional purchases totaling about $2.7 million between April 7 and April 13 at around $43 per share.John Rogers, a director since 2018, bought $173,000 of shares in his first purchase since December 2024, according to the report. Hill acquired another $1 million of stock, Cook added $1.1 million to his holdings, and Swan purchased $500,000 of shares, Smart Insider said.Smart Insider said that while the December buying was not timely, the recent cluster of purchases is encouraging.Smart Insider renewed its +1 rating on the stock, indicating a strong positive signal.Price: $46.93, Change: $+0.45, Percent Change: +0.97%

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