Welcome to Extreme Investor Network, where we bring you the latest updates on the companies making headlines in the financial world. Today, we have a roundup of some key movements in the market that you need to know about.
Nike, a leading athletic apparel company, saw a 6% increase in shares as CEO John Donahue announced his retirement. The company veteran, Elliott Hill, will be stepping into the position, bringing a wealth of experience to the role.
On the other hand, FedEx saw a dip of more than 13% in shares after reporting a decline in profits and reducing its full-year guidance. Lennar, a homebuilding stock, also slipped 3% despite beating analyst expectations for its fiscal third quarter.
The Trump Media & Technology Group experienced a 5% drop in shares as selling restrictions on former President Donald Trump and other early investors came to an end. Meanwhile, Constellation Energy saw a more than 7% increase in shares after announcing the restart of the Three Mile Island nuclear plant, with plans to sell the power to Microsoft for its data center energy needs.
In the world of office furniture, MillerKnoll reported a fiscal first-quarter earnings and revenue miss, leading to a loss of over 5% in shares. Automobile stocks, including Ford, Tesla, and General Motors, also saw declines due to Mercedes trimming its annual forecasts.
PepsiCo faced a 1% dip in shares following a downgrade at Morgan Stanley, citing concerns over organic sales growth and market share losses. Similarly, ASML experienced a 2% decrease in shares after a downgrade from Morgan Stanley due to potential slowdown risks.
On a positive note, Centessa Pharmaceuticals saw a more than 5% increase in shares after an upgrade from Morgan Stanley, recognizing the potential of its orexin 2 treatment for narcolepsy. Aptiv, an automobile technology supplier, also saw a rise in shares after an upgrade at Wells Fargo.
Valero Energy saw a 1.2% decrease in shares after a downgrade from Piper Sandler, while Chewy, the pet products retailer, lost nearly 3% following a public offering of $500 million in Class A stock.
Stay tuned to Extreme Investor Network for more updates on market movements and investment opportunities. Remember, knowledge is power in the world of finance, and we’re here to empower you with the latest information to make informed investment decisions.