Sep 29, 2022 (PressReach.com via COMTEX) -- NKE is one of the stocks to watch and it’s trading at $95.22 as of 01:13 PM EDT.
Early on Thursday’s session, stock futures indicated that there would probably be a decline. After a rebound on Wednesday lifted the major averages off of fresh bear market lows and had the S&P 500 within one point of 3,600 at one point, caution returned to the market. The following stocks to keep an eye on Thursday are:
After Bank of America downgraded Apple /zigman2/quotes/202934861/composite AAPL -1.31% to Neutral from Buy, the stock fell again in premarket trading, falling around 2%. Concerns about weak consumer demand were raised by analyst Wamsi Mohan. Following news that the Apple titan was abandoning plans to increase iPhone production, AAPL stock fell on Wednesday.
AAPL Stock May Test June Lows
MU is one of the stocks to watch today. After the closing bell, Micron /zigman2/quotes/205710729/composite MU -0.29% is scheduled to release its quarterly earnings. Investors will be keenly monitoring memory chip pricing as MU is anticipated to publish non-GAAP EPS of $1.37. The estimated amount of revenue is $6.78 billion.
The news of a shareholder’s secondary public offering impacted heavily on Altus Power /zigman2/quotes/224262326/composite AMPS +2.74% , which fell 17% in premarket trade. According to the firm, a shareholder selling shareholder connected to Blackstone will offer up to 7 million class A shares of AMPS.
Following market action, Nike /zigman2/quotes/203439053/composite NKE +0.36% is expected to release its financial results. The slowing economy and China are challenges for the manufacturer of athletic shoes. On $12.28 billion in revenue, the company is expected to make $0.92 per share. On September 29 after the close of the market, Nike is expected to release its Q1 financial results . In the past two years, the company has consistently outperformed revenue and EPS expectations. Nine lower changes to EPS expectations and 14 downward revisions to revenue estimates have occurred in the last three months. RBC Capital Markets maintained its positive outlook on Nike, noting that the company stands to gain from both the forthcoming FIFA World Cup in Qatar and the region’s robust economic growth.
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