Nike Stock Tumbles Premarket on Forecast Sales Drop

Group 1 - Nike stock fell 10.5% in premarket trading due to a forecast of declining sales for the third quarter and poor performance in China [1] - The company reported second-quarter revenue of $12.43 billion, which exceeded analysts' expectations but did not positively impact the stock price [2] - Competitors Puma and Adidas experienced slight declines of 0.8% and 0.1% respectively in European trading, following Nike's disappointing earnings [2]