Thursday, December 19, 2024

Nike profits and sales beat forecasts, shares surge 11%

Wall Street just changed their tune
The AI Energy Miracle

In Today's News

A Tech That Could Pay You $30K a Year? Elon Musk's New Crazy Idea [adv]

FedEx to spin off its less-than-truckload freight business
Shares of the parcel delivery giant rose about 10% in after-hours trading.Analysts believe the spinoff could unlock up to $20 billion in shareholder value while clearing the way for FedEx management to focus on restructuring, potentially boosting long-term growth prospects for its core package operations and .... Read More >>

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Texas launches billboard campaign in Mexico to deter migrants
(Reuters) - Texas is launching a visceral billboard campaign in Mexico and Central America to deter illegal immigration by highlighting sexual assault and other dangers, Texas Governor Greg Abbott said on Thursday, the Republican's latest move to stem crossings."How much did you pay to have your daughter .... Read More >>

Wall Street just changed their tune [sponsor]
After warning of last year's historic bank run, weeks in advance... Legendary stock-picker Marc Chaikin just stepped forward, with an alarming new prediction - one that Wall Street is already quietly preparing for. How did Wall Street see it coming... And most importantly - what do they see coming next?

FEATURED ARTICLE

Nike profits and sales beat forecasts, shares surge 11%

Nike beat quarterly profit expectations and posted a smaller-than-expected drop in revenue on Thursday, as customers flocked to the embattled sportswear brand’s stores and website to buy newly released versions of performance and running shoes.

Shares of Nike surged 11% in extended trade, adding $12 billion to the company’s stock market value.

With rivals launching more comfortable, better cushioned shoes, Nike has been scrambling to regain dominance in the market, shelling out money to introduce new products like Air Max 95, and to promote staple franchises like Jordans and Pegasus.

Investors on Thursday’s earnings call will be keen to hear more on new CEO Elliott Hill’s vision for how to rebuild Nike’s retail partnerships, boost innovation and sharpen its focus on its core business of running.

“After an energizing 60 days of being back with my Nike teammates, our clear priority is to return sport to the center of everything we do,” Hill said.

“We’re taking immediate action to reposition our business, so we can get back to driving long-term shareholder value,” he added.

Last month, the company under Hill announced it would double down on three running franchises – Pegasus, Structure and Vomero – by launching various iterations of each shoe next year, at different price points.The company’s second-quarter net revenue fell 7.7% to $12.35 billion. Analysts had expected a 9.41% fall to $12.13 billion, according to estimates compiled by LSEG.

Nike reported earnings per share of 78 cents, compared with estimates of 63 cents per share, according to analysts estimates compiled by LSEG.

 .... Read More >>

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OTHER HEADLINES

US asks Nvidia to probe how its chips ended up in China, Information reports
The chip giant has asked big distributors such as Super Micro Computer and Dell Technologies to conduct spot checks of their customers in Southeast Asia, the report said. Nvidia's artificial intelligence chips are embedded in server products made by Super Micro and Dell.The Information reported that five diff .... Read More >>

Elon's New Crazy Invention Could Pay You $30k a Year [sponsor]
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US mortgage rates rise after three straight weekly declines
The average rate on the popular 30-year fixed-rate mortgage rose to 6.72% after falling to 6.60% last week, which was the lowest level since the week ending Oct. 24, mortgage finance agency Freddie Mac said on Thursday. The rate averaged 6.67% during the same period a year ago."This week, mortgage rates crept .... Read More >>

Groundbreaking AI Developed In Small Georgia Town Destroys Wall Street [sponsor]
One everyday trader just developed a new way to use AI to take advantage of a powerful market anomaly that has been quietly studied by Harvard, Duke University, the SEC, and even the Federal Reserve. See how he was able to beat the stock market by 17x, right from his home in a small town. See the remarkable discovery.

IMF says Fed taking appropriate action on rates given high US uncertainty
WASHINGTON (Reuters) - The International Monetary Fund views Wednesday's Federal Reserve interest rate cut and adoption of a more cautious outlook as appropriate given high U.S. economic uncertainty, IMF spokesperson Julie Kozack said on Thursday."Data from the last few months shows that the labor market .... Read More >>

The Hidden Link Between NVDA, CAVA, and CVNA Revealed  [sponsor]
The groundbreaking indicator that caught every Nvidia rally is now showing the same pattern on CAVA and CVNA. Free urgent briefing begins shortly. Click here for access.

Biden confirms that he will 'of course' attend Trump's inauguration
"Of course I am," Biden said in an interview broadcast on Thursday on the Meidas Touch network, when asked if he was planning to attend the Jan. 20 transfer of power."The only president ever to avoid an inauguration is the guy that's about to be inaugurated."The White House had said Biden would attend, but Bi .... Read More >>

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More hawkish Fed policy committee may increase dissent in 2025
(Reuters) - A slightly more hawkish set of Federal Reserve regional bank presidents will become voters on the U.S. central bank's rate-setting panel in 2025, raising the chance that any further interest rate cuts next year could spur more dissents like the one seen on Wednesday from the head of the Clevel .... Read More >>

Wall Street just changed their tune [sponsor]
After warning of last year's historic bank run, weeks in advance... Legendary stock-picker Marc Chaikin just stepped forward, with an alarming new prediction - one that Wall Street is already quietly preparing for. How did Wall Street see it coming... And most importantly - what do they see coming next?

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