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Wall Street on Friday: Nike shares down 11%

30 September 2022
2358
2 min.
12
Wall Street on Friday: Nike shares down 11%

Shares of US companies

Shares in Nike (NYSE: NKE) fell more than 11% after the world's largest sportswear maker warned its gross margins would remain under pressure for the year.

Meta Platforms (NASDAQ: META) shares rose 0.3% after Facebook's owner announced it would freeze hiring and look to cut costs by tackling an increasingly pressing cost issue.

Tesla (NASDAQ: TSLA) shares rose 0.2% as CEO Elon Musk is set to unveil a prototype humanoid robot at the company's "Artificial Intelligence Day" and possibly discuss long-delayed electric car autonomous driving technology.

Shares in Amylyx Pharmaceuticals (NASDAQ: AMLX) rose 8.7% after the US Food and Drug Administration (FDA) approved a drug to treat the deadly neurodegenerative disease known as Lou Gehrig's disease.

Altria (NYSE: MO) shares rose 0.4% after the tobacco giant announced it had exercised an option to free itself from its non-compete with troubled smoking blends maker Juul.

Micron Technology (NASDAQ: MU) shares rose 1.4% after the chipmaker projected strong revenue growth in the second half of fiscal 2023 even after warning of tougher times and announcing a reduction in investment.

Shares of Voya Financial (NYSE: VOYA) rose 1.2% after Piper Sandler upgraded its position on the finance company's stock from about "mid-market" to "to above average", citing an attractive valuation.

Shares of Rent-A-Center (NASDAQ: RCII) fell 17% after the rental services company cut its earnings forecast for the current quarter, citing current macroeconomic conditions.

Moreover, according to Business Insider, investment bank Bank of America on Thursday downgraded Apple stock from 'recommended to buy' to 'recommended to hold', causing the iPhone maker's shares to fall by nearly 5%.

Companies12 in the news

Voya Financial
3 place
Meta Platforms
4 place
Altria
5 place
Nike, Inc.
7 place
Nasdaq
8 place
Tesla
9 place
Apple
11 place
Bank of America
12 place
Section:
Source foto:
flickr.com

Discussion

Rating companies
Nasdaq
151 Mention
Dow Jones
118 Mention
Twitter
39 Mention
Apple
38 Mention
Tesla
34 Mention
Bloomberg L.P.
29 Mention
JPMorgan Chase
23 Mention

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