U.S. markets are set to open mix on Friday, ahead of a global trade war as China made its first move against Trump's decision on tariffs.
Shares of NIKE Inc. (NKE, Financial) rose on the heels of the company reporting its financial results for the third quarter. The company posted adjusted earnings per share of 68 cents on revenue of $8.99 billion, an increase of 6.6% from the prior-year quarter. The company managed to beat revenue estimations by $140 million in revenue.
Further, the gross margin declined 70 basis points to 43.8% due to unfavorable changes in foreign currency exchange rates, which were partially offset by lower product costs.
Moreover, during the trimester the company repurchased a total of 14.6 million shares for approximately $962 million as part of a $12 billion program.
Gainers
• Wynn Resorts Ltd. (WYNN, Financial)
• Mattel Inc. (MAT, Financial)
• Foot Locker Inc. (FL, Financial)
• Vulcan Materials Co. (VMC, Financial)
Losers
• Micron Technology Inc. (MU, Financial)
• Seagate Technology PLC (STX, Financial)
• Chipotle Mexican Grill Inc. (CMG, Financial)
• NVIDIA Corp. (NVDA, Financial)
Global markets
The main European stock markets closed lower. The U.K.'s FTSE lost 0.20%, France's CAC retreated 1.06%, Germany's Dax fell 1.24% and Spain's Ibex fell 0.97%.
In Asia, India’s BSE Sensex lost 1.24%, China´s SSE Composite slid 3.39%, Hong Kong's Hang Seng retreated 2.45% and Japan's Nikkei fell 4.51%.
Disclosure: The author holds no positions in any stocks mentioned.
