Nvidia, Micron, Nike, Nio, Carnival, FedEx: Stocks to watch
Stocks fall after some earnings outlooks disappoint investors. Dow sheds more than 400 points
Stocks fell at the open as the shares of Nike (NKE), FedEx (FDX) and Micron declined after the companies’ earnings disappointed investors. The S&P 500 and Nasdaq Composite both fell about 0.8% as of 9:45 a.m, with the Dow Jones Industrial average shedding 405.6 points, or almost 1%.
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The shares of some Chinese electric-vehicle makers are falling after Nio’s (NIO) net loss unexpectedly widened. Nio stock declined 5.1%, paced by declines of 2.2% in Xpeng (XPEV) and of 1.5% in Li Auto (LI). Tesla (TSLA) gained 2.4%.
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Here are some stocks to watch on Friday:
Carnival
Carnival’s (CCL) stock plunged 5.8% after the company posted earnings. While the results topped expectations, Wall Street Journal (NWSA) columnist Spencer Jakab wrote that cruise lines are in good shape — but investors have been nervous about travel demand since Delta Air Lines (DAL)’ cut its outlook.
FedEx
FedEx stock plunged 11% after it cut its full-year revenue and profit forecasts due to economic softening and uncertainty in the U.S., as well as severe weather.
Micron
Micron’s (MU) shares fell 7.6% after the company said that margins will miss analysts estimates this quarter, Bloomberg reported. The memory-chip maker’s earnings, released after the close yesterday, exceeded expectations for fiscal second-quarter revenue and profit on AI-related demand.
Nike
Nike’s stock tumbled 8.8% after the shoemaker reported a tough quarter as it sought to pivot back toward its athletic origins while navigating increased tariffs on China-made goods and a softening U.S. consumer market. Its sales projection for the current period was much worse than expected.
Nio
Nio’s ADRs fell 5.1% after the Chinese EV-maker’s net loss unexpectedly widened. The shares plunged 8.9% yesterday ahead of the results, and fell 8.8% in Hong Kong on Friday.
Nvidia
Nvidia’s (NVDA) shares slid 2.1% as its AI conference wraps up on Friday. CEO Jensen Huang said the chipmaker is partnering with quantum computing firms including Quantinuum and QuEra Computing to build a Boston-based research center that will integrate quantum computing with AI supercomputers.