Check out the companies making headlines after the bell: Nike – Stock prices reversed and fell 5% after the sneaker retailer noticed its sales in China were slowing. Last quarter, Nike beat Wall Street expectations. The company reported earnings of 77 cents per share on $12.43 billion in revenue, beating the 74 cents per share on revenue of $12.28 billion expected by analysts surveyed by LSEG. FedEx and United Parcel Services – Shares rose nearly 13% after the shipping company beat quarterly earnings expectations. FedEx reported adjusted earnings of $3.86 per share, higher than the $3.45 per share that analysts had expected, per LSEG. But the company's revenues fell short of estimates. FedEx also announced a $5 billion stock buyback. UPS shares rose 4%. Lululemon Athletica – Shares of the athleisure company fell 10%. Lululemon posted weak guidance and reported that growth in North America is slowing. Separately, the company reported fiscal fourth-quarter earnings and revenue. Dutch Bros – Shares of the drive-thru coffee chain fell about 5%. Dutch Bros has announced the launch of a secondary offering of its shares by certain shareholders associated with TSG Consumer Partners LP. The selling shareholders expect to offer 8 million shares, and Dutch Bros will not receive any proceeds from the sale. Reddit – Social media stock fell 2%. Reddit debuted on the New York Stock Exchange on Thursday, rising 48% on its first day of trading. — CNBC's Darla Mercado contributed reporting.
Trending
- Hezbollah fires rockets at Israel in revenge for its supreme leader
- Boeing Starliner Returns Empty, NASA Enlists SpaceX to Transport Astronauts
- Dividend Stocks Are a Hot Pick in the Fall Due to the Fed and Interest Rates
- Biden speaks with Zelensky, announces new military aid to Ukraine
- Meta says WhatsApp accounts linked to Iranian hackers targeted Biden, Trump
- Stocks with the biggest moves in the middle of the day: CAVA, INTU, ROST, WDAY
- Edgar Bronfman's Paramount Offer May Keep Shari Redstone Involved
- Markets are now wondering whether the Federal Reserve might cut interest rates by half a point in September.
Stocks making the biggest moves after hours: LULU, FDX, BROS, NKE
