Nike Shares Dip 5.5% Amid Sales Concerns on NYSE

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Nike Shares Dip 5.5% Amid Sales Concerns on NYSE
Photo: Darryl Dyck/AP/TT

The New York stock exchange ended the trading week with relatively small movements in the leading indexes. The broad S&P 500 and Dow Jones industrial index both rose 0.1 percent, while the technology-heavy Nasdaq increased 0.5 percent.

But a number of major companies announced economic results that received a thumbs down from analysts.

Nike fell 5.5 percent after Thursday's interim report. The sports giant's interim figures were indeed somewhat better than expected, but the company flagged that the sales decline will worsen.

Another company that announced worse market prospects was logistics company Fedex, which plummeted 6.4 percent after its quarterly report, the largest decline since last September. The company has lowered its profit forecast for 2025 by 11 percent.

Upwards, electric car manufacturer Tesla rose after CEO Elon Musk urged employees to hold onto their shares, despite the recent downturn on Wall Street. The share rose 5.3 percent.

Counted on the past week, the S&P 500 rose 0.5 percent, Dow Jones 1.2 percent, and Nasdaq 0.2 percent.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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