Market Overview - U.S. markets experienced gains, with the Nasdaq rising nearly 1.4% to 23,006.36, the S&P 500 increasing by almost 0.8% to 6,774.76, and the Dow Jones Industrial Average edging up 0.1% to 47,951.85 [1] Rivian - Rivian's stock surged by 15.03%, closing at $20.28, with an intraday high of $20.33 and a low of $18.26, and a 52-week range between $20.33 and $10.36 [1] - The company expanded its hands-free assisted driving capabilities with software update 2025.46, increasing coverage to over 3.5 million miles of roads in the U.S. and Canada from about 135,000 miles previously [2] - Analysts view Rivian's advancements in autonomy and the upcoming R2 platform as positive indicators for the company's long-term outlook [2] Nike - Nike's stock dipped by 0.091%, closing at $65.63, with an intraday high of $67 and a low of $65.40, and a 52-week range between $82.44 and $52.28 [3] - Despite reporting better-than-expected second-quarter earnings with revenue of $12.43 billion and earnings of 53 cents per share, the stock fell, with revenue up 1% year-over-year and Nike Brand revenues totaling $12.1 billion [3] Trump Media & Technology Group - Trump Media's stock skyrocketed by 41.93%, closing at $14.86, with an intraday high of $15.20 and a low of $12.71, and a 52-week range between $43.45 and $10.18 [4] - The company announced plans to merge with TAE Technologies in an all-stock deal valued at over $6 billion, targeting a mid-2026 close and planning to begin construction of a utility-scale fusion power plant next year [5] FedEx - FedEx shares rose by 1.74%, closing at $287.12, with an intraday high of $288.05 and a low of $281.60, and a 52-week range between $295.24 and $194.30 [6] - The company reported second-quarter revenue of $23.5 billion and adjusted earnings of $4.82 per share, exceeding estimates, driven by stronger package yields and higher U.S. volume [7] - FedEx raised its fiscal 2026 revenue growth outlook to 5%–6% and lifted the low end of its adjusted EPS guidance to $17.80, while reiterating plans for $1 billion in permanent structural cost reductions [7] BlackBerry - BlackBerry's stock increased by 1.64%, closing at $4.33, with an intraday high of $4.43 and a low of $4.28, and a 52-week range between $6.24 and $2.80 [8] - The company reported third-quarter fiscal 2026 revenue of $141.8 million and adjusted earnings of 5 cents per share, both exceeding expectations, although revenue slipped about 1% year-over-year [9] - BlackBerry raised its full-year fiscal 2026 revenue outlook to $531–$541 million and adjusted EPS guidance to 14–16 cents [9]

US stock futures edged higher on Friday after snapping a recent losing streak, as signs of cooling inflation and waning AI worries buoyed Wall Street optimism toward the tail end of a topsy-turvy week. S&P 500 futures (ES=F) put on 0.1%, and contracts on the Nasdaq 100 (NQ=F) gained roughly 0.2%, looking to build on Thursday's roaring rally. Meanwhile, Dow Jones Industrial Average futures (YM=F) clung to the flatline. Investors have gotten through a catch-up week for economic data with next year's rate- ...

Financial Data and Key Metrics Changes - For Q2 fiscal 2026, revenues increased by 1% on a reported basis and were flat on a currency-neutral basis, with Nike Direct down 9% and Nike Digital down 14% [24][21] - Gross margins declined by 300 basis points to 40.6% primarily due to increased product costs from higher tariffs and inventory obsolescence in Greater China [24][23] - Earnings per share was reported at $0.53, with inventory decreasing by 3% year-over-year [25][24] Business Line Data and Key Metrics Changes - The wholesale segment grew by 8%, while classic footwear franchises declined over 20% year-over-year, contributing to a top-line headwind of approximately $550 million [24][21] - Running grew by over 20% for the second consecutive quarter, with significant growth across all channels, including Nike Direct [14][21] - Nike's North America revenue grew by 9%, with wholesale growing by 24%, while Nike Direct declined by 10% [26][25] Market Data and Key Metrics Changes - In North America, gross margins only declined by 330 basis points despite a 520 basis point impact from new U.S. tariffs, indicating effective management of the marketplace [28][27] - Greater China saw a revenue decline of 16%, with Nike Direct down 18% and wholesale down 15% [30][29] - EMEA revenue was down 1%, with a decline in Nike Direct and Nike Stores, while wholesale remained flat [29][28] Company Strategy and Development Direction - The company is focused on executing "Win Now Actions" to reposition its business and drive growth through a diversified product portfolio and enhanced consumer connections [5][6] - The "Sport Offense" strategy aims to leverage athlete-centered innovation across various channels to drive growth [5][6] - The company is committed to returning to double-digit EBIT margins, with a focus on improving operational efficiency and managing costs [19][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the recovery will not be linear, with different brands and geographies recovering at varying speeds [22][21] - There is confidence in the long-term potential of the China market, despite current challenges, with plans to reset the approach to better align with local consumer preferences [11][30] - The company expects Q3 revenues to be down low single digits, with modest growth anticipated in North America [33][34] Other Important Information - The company is implementing changes in leadership to enhance decision-making and strategy execution across geographies [9][10] - Significant investments are being made in marketing and product innovation to support the recovery and growth strategy [19][20] Q&A Session Summary Question: Can you elaborate on the turnarounds and opportunities remaining? - Management highlighted that the path to sustainable growth is through "Win Now Actions" and the "Sport Offense," with North America showing strong growth and a healthier base for future growth [44][45] Question: What is the timeline for returning to double-digit EBIT margins? - Management stated that improving margins is a top priority, with a clear path back to double-digit EBIT margins through growth and operational efficiency [57][58] Question: How deep is the reset necessary in China? - Management indicated that a reset is necessary to return to a premium brand position, with ongoing actions to clean up the marketplace and improve retail presentation [61][62]

Financial Data and Key Metrics Changes - For Q2 fiscal 2026, revenues increased by 1% on a reported basis and were flat on a currency-neutral basis, with Nike Direct down 9% and Nike Digital down 14% [36][39] - Gross margins declined by 300 basis points to 40.6% primarily due to increased product costs from higher tariffs and inventory obsolescence in Greater China [37][36] - Earnings per share was reported at $0.53, with inventory decreasing by 3% year-over-year [39][36] Business Line Data and Key Metrics Changes - The performance business saw significant traction, with Running growing over 20% for the second consecutive quarter [21][30] - Classic footwear franchises are projected to decline by more than $4 billion by fiscal year-end [31] - Wholesale grew by 8%, with North America experiencing over 20% growth in wholesale [14][36] Market Data and Key Metrics Changes - North America revenue grew by 9%, with wholesale up 24% and EBIT down 8% [40][39] - EMEA revenue was down 1%, with wholesale flat and EBIT declining by 12% [44] - Greater China revenue declined by 16%, with Nike Direct down 18% and EBIT down 49% [45][46] Company Strategy and Development Direction - The company is focused on right-sizing its Classics business, returning Nike Digital to a premium experience, and diversifying its product portfolio [6][9] - The "Sport Offense" strategy is aimed at driving growth through athlete-centered innovation across various channels and countries [7][9] - The company is committed to improving profitability and operating efficiency while investing in growth initiatives [27][56] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the recovery will not be linear, with different timelines for each brand and geography [34][79] - There is confidence in the long-term potential of the China market, despite current challenges [18][93] - The company expects Q3 revenues to be down low single digits, with modest growth in North America and continued headwinds in Greater China [53][54] Other Important Information - The company is implementing changes in leadership to enhance decision-making and strategy execution [12][27] - Significant investments are being made in marketing and product innovation to support growth [91][100] - The company is focused on cleaning up excess inventory and improving the marketplace experience [49][50] Q&A Session Summary Question: Can you elaborate on the turnarounds and opportunities remaining? - Management highlighted that growth is driven by Win Now Actions and the Sport Offense, with North America showing strong progress and China needing more time [68][70] Question: When will the recovery be more predictable? - Management indicated that each geography and brand is at different stages, making it difficult to provide a specific timeline for recovery [79][80] Question: What is the timeline for returning to double-digit EBIT margins? - Management stated that improving margins is a top priority, with a path back to double-digit EBIT margins expected as growth continues [87][88] Question: How deep is the reset necessary in China? - Management emphasized the need for a fresh approach in China, with ongoing actions to clean up the marketplace and improve brand positioning [96][93]

Financial Data and Key Metrics Changes - Revenues for Q2 were up 1% on a reported basis and flat on a currency-neutral basis, with Nike Direct down 9% and Nike Digital declining 14% [20][22] - Gross margins declined 300 basis points to 40.6% on a reported basis, primarily due to increased product costs from higher tariffs and inventory obsolescence in Greater China [21][19] - Earnings per share was $0.53, with inventory decreasing 3% versus the prior year [22] Business Line Data and Key Metrics Changes - The Nike brand grew this quarter, with 8% wholesale growth and a strong mix, while classic footwear franchises are expected to decline by over $4 billion by fiscal year-end [7][17] - Running grew by over 20% for the second consecutive quarter, with significant growth in Nike-owned stores, Nike Digital, and wholesale [12][24] - Nike's Classics business is being right-sized, and the company is diversifying its product portfolio [5][6] Market Data and Key Metrics Changes - North America saw a revenue growth of 9%, with wholesale growing 24% and EBIT declining 8% [23][22] - Greater China experienced a revenue decline of 16%, with Nike Direct down 18% and wholesale down 15% [26][22] - EMEA revenue was down 1%, with a decline in Nike Direct and Nike Stores, while wholesale was flat [25] Company Strategy and Development Direction - The company is focused on executing its "Win Now Actions" and "Sport Offense" strategies to drive growth through athlete-centered innovation and a diversified product portfolio [5][6] - There is a strong emphasis on reconnecting with partners and enhancing consumer experiences, particularly in North America [8][9] - The company is adapting its approach in Greater China to better fit the local market dynamics and improve brand positioning [10][54] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the recovery will not be linear, with different brands and geographies recovering at varying speeds [18][45] - There is confidence in the long-term potential of the China market, despite current challenges, and a commitment to returning to a premium brand position [10][54] - The company expects Q3 revenues to be down low single digits, with gross margins projected to decline approximately 175-225 basis points [31] Other Important Information - The company is making significant investments in product innovation, with new launches planned across various sports and categories [12][59] - A leadership change was made to enhance operational efficiency and integrate technology across the company [15][16] Q&A Session Questions and Answers Question: Can you elaborate on the turnarounds and where opportunities remain? - Management highlighted that the path back to sustainable growth is through the Win Now Actions, with North America showing strong momentum and a healthier base for growth [36][38] Question: When will the recovery be more visible and less linear? - Management indicated that each geography and brand is at different stages, making it difficult to provide a specific timeline for recovery [44][45] Question: What is the timeline for returning to double-digit EBIT margins? - Management stated that improving margins is a top priority, with a clear path back to double-digit EBIT margins through growth and operational efficiency [48][50] Question: How deep of a reset is necessary in China? - Management acknowledged the need for a reset in China, focusing on cleaning up the marketplace and enhancing brand presentation [52][54]

Thank you. Sarah Eisen from the New York Stock Exchange on Nike tonight. Um Tim, are we in the middle of the turnaround here.Do you see enough proof. Are you convinced. >> I I think we are.I think if you're building a position in Nike, this is a place to add. There's nothing I heard today that made me concerned about some of the legacy problems. The positives are two consecutive quarters of revenue growth.North America up 8.8%. It's actually a second derivative margin improvement. They're still down, but th ...

Thank you. Sarah Eisen from the New York Stock Exchange on Nike tonight. Um Tim, are we in the middle of the turnaround here.Do you see enough proof. Are you convinced. >> I I think we are.I think if you're building a position in Nike, this is a place to add. There's nothing I heard today that made me concerned about some of the legacy problems. The positives are two consecutive quarters of revenue growth.North America up 8.8%. It's actually a second derivative margin improvement. They're still down, but th ...

Let's get back to Nike. Those shares falling now more than 4% in overtime. Let's bring in Oppenheimer senior analyst Brian Nagel for his reaction to the results.Got an outperform rating. $120 price target on the stock. Brian, which is more important here for investors in these results, the China weakness or the wholesale strength.>> Well, good afternoon, John. Look, I tend to think the wholesale strength. And I and the reason I say that I mean one it's a much bigger business but probably more importantly yo ...

Let's get back to Nike. Those shares falling now more than 4% in overtime. Let's bring in Oppenheimer senior analyst Brian Nagel for his reaction to the results.Got an outperform rating. $120 price target on the stock. Brian, which is more important here for investors in these results, the China weakness or the wholesale strength.>> Well, good afternoon, John. Look, I tend to think the wholesale strength. And I and the reason I say that I mean one it's a much bigger business but probably more importantly yo ...

Core Insights - Lululemon Athletica's founder Chip Wilson is advocating for change, with activist investor Elliott Investment Management considering a potential CEO candidate [1] - Elliott holds a stake valued at over $1 billion, which may give it significant influence over Lululemon's board, especially with CEO Calvin McDonald set to resign on January 31 [2] - Jane Nielsen, a former CFO at Tapestry Inc. and Ralph Lauren Corp., is being discussed as a potential CEO candidate by Elliott [3] Company Developments - Lululemon announced it is collaborating with a leading executive search firm to find a new CEO following McDonald's departure [4] - Analyst Laurent Vasilescu from BNP Paribas Research expressed support for Nielsen, citing her leadership experience and potential to revitalize Lululemon [5] - The company has faced challenges, including significant layoffs and talent loss to competitors, which Nielsen could address to improve morale and performance [6]