Welcome to Extreme Investor Network, where we bring you the latest updates on companies making headlines in the stock market.
Nike, the sneaker giant, saw its shares soar 10% after announcing CEO John Donahoe’s departure and the appointment of Nike veteran Elliott Hill as the new CEO. This news shook up the market, and investors are closely watching how this leadership change will impact the company’s future performance.
Meanwhile, FedEx shares took a hit, dropping 10% as the shipping company revised its full-year earnings outlook and revenue guidance downwards. The fiscal first-quarter results fell short of market expectations, with adjusted earnings per share at $3.60 and revenue at $21.58 billion, missing analysts’ estimates.
MillerKnoll, the office furniture company, also faced a rough patch, with shares slipping over 2% after reporting lower-than-expected earnings and revenue in the fiscal first quarter. The company issued a weak guidance for the upcoming quarter, adding to investor concerns.
On the other hand, Lennar, the home construction company, saw its shares fall 3% despite surpassing Wall Street estimates in the fiscal third quarter. Earnings per share came in at $4.26 and revenue at $9.42 billion, beating analysts’ expectations.
Lastly, Chewy, the pet products retailer, experienced a slight dip in its shares after announcing a public offering of $500 million of its Class A stock by its largest shareholder, BC Partners Advisors. The retailer also revealed plans to repurchase $300 million in shares, showing its commitment to shareholder value.
Stay tuned to Extreme Investor Network for more updates on these and other companies shaping the stock market landscape. Let us help you navigate the world of finance and investment with expert analysis and unique insights.