Nike, PNC Financial, Accenture Move on Friday

Stocks impacted by earnings, ratings, tax bill

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Dec 22, 2017
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Nike Inc. (NKE, Financial) was down on Friday despite reporting second-quarter results that beat expectations Thursday. Further, Jefferies' Randal Konik reiterated a hold rating and raised its price target to $59 from $48. Oppenheimer's Anna Andreeva reiterated a perform rating. Susquehanna's Sam Poser reiterated a neutral rating with a price target of $57.

Moreover, shares of Accenture PLCÂ (ACN, Financial) traded higher after analysts at Cantor Fitzgerald raised the price target to $180 from $151, but maintained an overweight rating. The rating followed first-quarter results.The company reported EPS of $1.79 on revenue of $9.52 billion, beating earnings expectations by 12 cents and revenue estimates by $260 million.

Shares of The PNC Financial Services Group Inc. (PNC) traded lower after announcing bonuses in the wake of the tax bill passing.The company will provide employees in the defined benefit pension plan with an additional $1,500. Further, it will provide a $1,000 cash payment to approximately 47,500 employees in the first quarter of 2018. Moreover, it will raise the minimum wage to $15 an hour by the end of next year.

Chairman, President and CEO William S. Demchak said tax reform brings an opportunity to reward hard-working employees.

"The Board's decision to recognize our employees and support our communities is reflective of our commitment to PNC's success," he said.

Disclosure: The author holds no positions in any stocks mentioned.