Home Editor's Picks Midday movers: FedEx soars; Nike, Lululemon and Tesla fall

Midday movers: FedEx soars; Nike, Lululemon and Tesla fall


FedEx soars premarket; Nike, Lululemon and Tesla fall By Investing.com

Breaking News


AuthorPeter NurseEconomy

Published Mar 22, 2024 07:56AM ET
Updated Mar 22, 2024 08:06AM ET

© Reuters.

Investing.com — U.S. futures edged higher Friday, ending the week on a positive note after the Federal Reserve reaffirmed its plans to cut interest rates this year, potentially as soon as June.

Here are some of the biggest premarket U.S. stock movers today:

FedEx (NYSE:FDX) stock soared 12% as the delivery and logistics firm clocked stronger-than-expected earnings, and also approved a $5 billion share buyback.

Tesla (NASDAQ:TSLA) stock fell 4.1% after Bloomberg reported that the EV manufacturer has scaled back its production in China as it faces slower growth in the sales of new-energy vehicles and increased competition in the world’s largest car market.

Apple (NASDAQ:AAPL) stock fell 0.2%, continuing the previous session’s 4% drop following the Department of Justice unveiled its long-anticipated lawsuit against the iPhone maker for violating antitrust regulations.

Nike (NYSE:NKE) stock fell 6.1% after the world’s largest sportswear maker warned that its revenue in the first half of fiscal 2025 would shrink by a low single-digit percentages.

Lululemon Athletica (NASDAQ:LULU) stock fell 13% after the athleisure retailer forecast annual revenue and profit below expectations as demand wanes for its premium products, mainly in North America.

Reddit (NYSE:RDDT) stock fell 5.2%, a day after the social media platform made its strong market debut.

Coinbase (NASDAQ:COIN) stock fell 2.3%, with the cryptocurrency exchange suffering as Bitcoin, the most popular digital currency, fell below $65,000, nearing the week’s low.

FedEx soars premarket; Nike, Lululemon and Tesla fall

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information

© 2007-2024 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Related News