Nike shares slid in the premarket after the sports apparel firm missed earnings expectations. However, it did beat revenue estimates.
Analysts remain bullish on Nike's direct-to-consumer strategy and brand momentum, even after the sports apparel giant's disappointing earnings results. Nike shares slid 3% in the premarket. The company missed earnings expectations for the first time in three years because of lower margins. However, Nike did exceed revenue forecasts. In its fiscal fourth quarter , Nike reported per-share earnings of 66 cents, which was lower than the 67 cents anticipated by analysts polled by Refinitiv.
JPMorgan's Matthew Boss also kept his overweight rating. He cited Nike's better-than-expected revenue, improving inventories, as well as no change to the brand's momentum in its direct-to-consumer strategy.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Nvidia stock selloff presents a 'buying opportunity,' analysts say as they shrug off China fearsNvidia and AMD shares were falling amid a report suggesting forthcoming additional China export restrictions, but analysts didn't seem too concerned.
Leer más »
These are analysts' favorite S&P 500 stocks heading into the second halfCNBC Pro screened for well-liked stocks with large expected upside.
Leer más »
Micron recovery debated by analysts as bottom is called in memory-chip marketMicron’s stock declined Thursday after analysts acknowledged that the memory-chip maker is on the road to recovery but debated how long that would take.
Leer más »
Here are Wednesday's biggest analyst calls: Delta, Netflix, Pinterest, Nvidia, Pepsi, Deere, Nike & moreHere are Wednesday's biggest calls on Wall Street.
Leer más »
NCAA Champion Parker Valby of Florida Announces NIL Deal With NikeShe’s the latest top performer to sign with a shoe company.
Leer más »
Nike beats sales expectations, misses on earnings as margins dropNike reported fiscal fourth quarter earnings that beat Wall Street's expectations on revenue but missed on profits.
Leer más »