The results were absolutely great compared to what we and consensus had expected. They posted an increase in fiscal first quarter revenues that was not expected. The expectations were for a mid-single digit decline.So that is definitely good news. And what's even better is that the increase came largely due to a stronger North America business, where sales were up in constant currency by 4%. So really, this just goes to show us that they're making the right steps. They're taking the right steps to really mo ...

Core Insights - The company reported unexpectedly strong fiscal first quarter revenues, contrary to expectations of a mid-single digit decline [1] - The increase in revenues was primarily driven by a 4% rise in sales in North America, indicating effective brand strategies and innovation [2] Financial Performance - Revenues increased significantly, surpassing consensus expectations [1] - North America sales showed a positive trend, with a 4% increase in constant currency [2] - Inventories decreased by 2% at the end of the quarter, reflecting effective inventory management [2] Strategic Focus - The company is emphasizing sports over fashion, positioning itself strongly in the sports market [3] - Leadership under Elliot Hill is seen as making the right strategic moves, focusing on product innovation [4] Challenges and Risks - The company has not addressed the impact of tariffs recently, which previously posed a $1 billion cost headwind [5] - Sales in China are down 10% in constant currency, indicating room for improvement despite better-than-expected performance [7] Retail Partnerships - The wholesale division outperformed expectations, with a 7% increase compared to an estimated decline of 2%, highlighting the success of revitalized retail partnerships [8] - The company is re-engaging with Amazon for the first time in six years, which may enhance retail relationships [7][8] Direct-to-Consumer (DTC) Performance - There is ongoing weakness in the digital sales channel, although store sales increased by 1%, suggesting that new product innovations are resonating with consumers [9]

Let's bring in Kevin Green, senior markets correspondent, right away to help set up the action today. So KG, as expected, the government did shut down this morning, 12:01 a. m.Eastern time or 12 midnight in seconds, right. Uh so I guess catch people up on where things stand uh and what the implications are. Yeah, we are obviously seeing a stalemate when it comes to Congress and trying to pass a funding bill here.And we did see two bills actually getting uh shot down yesterday. If you kind of look at it, the ...

Core Insights - Nike reported unexpected sales growth for its fiscal first quarter but anticipates a sales decline during the holiday shopping season as it works on its turnaround [2] - Despite the positive quarterly results, the stock price of Nike increased in extended trading [2] Comparative Analysis - Peers in the Apparel, Accessories & Luxury Goods industry, such as Tapestry and Lululemon, show stronger growth and lower valuations compared to Nike, suggesting they may be better investment options [4] - The High Quality Portfolio has outperformed its benchmark, achieving returns exceeding 91% since inception, indicating a less volatile investment strategy compared to holding individual stocks like Nike [5] Key Metrics - A review of Nike's performance metrics over the past year may indicate whether the current stock price disparity is temporary or if ongoing weak revenue and operating income growth suggests overvaluation compared to competitors [8] - Other metrics indicate that Tapestry and Lululemon have lower valuations relative to Nike when measured by Price-to-Operating Income, along with higher growth rates for revenue and operating income [10]

Nike shares uh up nicely today about 4%. Profit and revenue beat Wall Street expectations signaling turnaround efforts that the company may be taking hold. Uh sales grew about 1% from the same quarter a year ago.Surprising analysts. Nike expects current quarter revenue revenue though to fall by low singledigit uh percentages in line with where the street was. Anyway, on the topic of tariffs, and that's has a lot to do with this, Nike said it expects a hit of $1.5% billion uh and a gross margin impact of 1.2 ...

Group 1 - Dow Jones futures, S&P 500 futures, and Nasdaq futures fell as a government shutdown commenced [1] - Nike reported a revenue beat, indicating improvement in turnaround efforts [4] - Nvidia stock reached a bullish trigger amid significant AI deals, raising questions about its buy potential [4] Group 2 - Tesla rivals XPeng, Xiaomi, and Nio reported record electric vehicle sales in China, while BYD is expected to follow [4] - CoreWeave stock surged due to an expanded cloud computing agreement with Meta [4] - Spotify's CEO announced a leadership change, resulting in a decline in stock value [4]

For nearly two decades, the U.S. provided a lifeline to Haiti: duty-free textile imports that drew apparel makers and created tens of thousands of jobs. That lifeline is no more. https://t.co/cFQjf7eLgw ...

Market Overview - U.S. stock futures declined on Wednesday following gains on Tuesday, with major indices experiencing drops due to the federal government entering a shutdown after Congress failed to agree on a spending plan [1][2] - Historical data indicates that government shutdowns typically have a short-lived and limited long-term impact on equities [1] Economic Indicators - The 10-year Treasury bond yielded 4.15%, while the two-year bond was at 3.60%, with a 94.6% likelihood of the Federal Reserve cutting interest rates in the upcoming October meeting [2] - U.S. job openings increased by 19,000 to 7.227 million in August, while the Chicago Business Barometer fell to 40.6 in September, below market expectations [5] Recent Performance - The S&P 500 gained over 3% in September, with the Dow increasing nearly 2% and the Nasdaq rising 5.6% [4] - Most sectors on the S&P 500 closed positively on Tuesday, with information technology, health care, and industrials showing the largest gains, while energy and consumer discretionary sectors closed lower [3] Analyst Insights - Historical trends suggest that October is often a positive month for the S&P 500, with nearly 60% of Octobers since 1950 showing positive returns and an average gain of 0.89% [8] - The fourth quarter (October to December) is historically the strongest three-month period for equities, with an average return of almost 2% since 1950, and over 6% in the past five years [12][17] - The current momentum of the S&P 500, which is on a five-month winning streak, indicates a historically bullish setup for equities as the year ends [14][17] Company Performance - Nike Inc. reported better-than-expected first-quarter results, with earnings of 49 cents per share surpassing the consensus estimate of 27 cents, and sales of $11.720 billion exceeding the estimate of $11.000 billion [17] - Ryvyl Inc. surged 94.66% following a $75 million merger agreement, while AST SpaceMobile Inc. jumped 6.38% due to news about its upcoming satellite launch [17]

Core Insights - Nike has reported better-than-expected results for Q1 2026, indicating strong performance in the market [1] Financial Performance - The company showed significant improvement compared to previous forecasts, suggesting a positive trend in sales and overall financial health [1] Market Position - Nike's strong performance reflects its ability to adapt to market conditions and consumer behavior, positioning itself favorably against competitors [1]

Core Insights - Nike has reported better-than-expected results for Q1 2026, indicating strong performance in the market [1] Financial Performance - The FY 2025 annual report conference highlighted significant improvements in Nike's financial metrics, suggesting a positive trend in revenue and profitability [1] Market Position - Nike's strong market presence and brand recognition continue to contribute to its competitive advantage, allowing it to outperform expectations [1]