Closing Bell Movers: Nike falls over 10% after soft revenue guidance

Softer than feared CPI data and better than expected results out of Micron overnight had helped restore bullish sentiment recently dented by concerns with debt-fueled AI capex cycle as S&P 500 ended the day up 0.8% while Nasdaq jumped 1.4% – bolstered by Tech, Consumer Discretionary, and Internet names.  Treasury yields also slipped across the curve, with fixed income traders pricing in a higher probability of a two-to-three 2026 rate cut scenario vs. the FOMC’s expected one-cut outcome. 

The opening hour of the evening session is striking a more cautious tone however, with Dow Industrials futures slipping 0.2% and S&P 500 e-minis down a decimal, with  investors reacting to disappointing quarterly update from Nike – while the company beat on earnings and revenue for Q2, its  management forecast Q3 revenue oulook to be down low single digits from last year against consensus estimate of a 1% y/y increase.  Shares of Nike were off by over 10% afterhours, with other athletic apparel names also down.

Across commodities, growth worries are dominating again in the Energy space, with WTI Crude Oil reversing the Venezuela-blockade driven rally to retreat below $56 per barrel, while precious metals are consolidating recent gains.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• FedEx (FDX) up 1.4%
• HEICO Corporation (HEI) up 1.1%

ALSO HIGHER  –

• WhiteFiber (WYFI) up 12.5% after signing 10-year 40 MW colocation agreement for NC-1 data center campus

DOWN AFTER EARNINGS –

• Nike (NKE) down 10.5%; Deckers (DECK) down 2.4%, ON Holding (ONON) down 1.6%, Dick’s Sporting (DKS) down 1.7% in sympathy
• BlackBerry Limited (BB) down 6.7%
• KB Home (KBH) down 4.6%
• Scholastic (SCHL) down 1.3%