Nike shares plunge after retailer says quarterly sales will fall 10%, warns on China weakness
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CNBC - Business
Nike shares plunge after retailer says quarterly sales will fall 10%, warns on China weakness
Nike has found itself in a rough patch as the sneaker giant has worked to claw back market share it's ceded to upstarts like On Running and Hoka.China -
Financial Times - Business
Nike shares tumble 20% as sales warning rattles retailers
Sportswear maker says it is taking aggressive action to reorganise inventory after weaker than expected quarter -
The Wall Street Journal - World
Puma, Adidas and JD Sports shares fell after U.S. peer Nike warned that sales for fiscal 2025 are expected to fall.
Puma, Adidas and JD Sports shares fell after U.S. peer Nike warned that sales for fiscal 2025 are expected to fall. -
The Wall Street Journal - World
Hennes & Mauritz's shares plunged 13% after it made a weak start to its third quarter and warned about rising raw material costs and adverse currency moves.
Hennes & Mauritz’s shares plunged 13% after it made a weak start to its third quarter and warned about rising raw material costs and adverse currency moves. -
ABC News - Tech
Shares of Trump Media swing wildly after first US presidential debate, fall 10%
Trump Media fell more than 10% Friday after the first U.S. presidential debate, demonstrating another of the wild swings that have made its stock one of the more volatile on Wall StreetDonald Trump -
MarketWatch - Business
Cassava Sciences shares fall after onetime advisor indicted on fraud charges
Shares of biotech company Cassava Sciences Inc. plummeted on Friday after a federal grand jury indicted a onetime science advisor to the company and charged him with falsifying data to obtain millions of dollars in government funds -
The Wall Street Journal - Business
H&M Shares Plunge on Worsening Outlook
Hennes & Mauritz’s shares fell 13% after it made a weak start to its third quarter and warned that its performance would be hurt by rising raw material costs and adverse currency moves. -
MarketWatch - Business
Tesla is reporting quarterly sales soon. Investors are bracing for lower numbers.
Tesla Inc. is likely to report deliveries — its proxy for sales — this week, and Wall Street expects that the EV maker will have sold fewer cars than in the same period last year.Tesla -
CNBC - Business
GM reports best U.S. quarterly sales since 2020
EVs deliveries increased 40% compared to a year earlier to 21,930 units. Still, EVs made up only 3.2% of GM's total second quarter sales. -
NBC News - Top stories
GM reports best U.S. quarterly sales since 2020
General Motors reported its best quarterly sales in more than three years, including notable increases in full-size pickup trucks and all-electric vehicles. -
The Wall Street Journal - World
Nike's Warning Shakes European Footwear Stocks
Puma, Adidas and JD Sports shares fell after peer Nike warned that sales for fiscal 2025 are expected to fall, lagging the industry. -
NBC News - Top stories
Nike expects more sales declines as it attempts a comeback
Shares of Nike plunged after the sneaker giant cut its full-year guidance and said it expects sales to drop 10% during its current quarter. -
CNBC - Business
Chewy shares fall nearly 7% as the boost from Roaring Kitty's new stake diminishes
The filing showed Roaring Kitty, whose legal name is Keith Gill, bought just over 9 million shares — amounting to a 6.6% stake in the company. -
The Hill - Politics
4 in 10 Democrats say Biden should not be party's nominee after debate: Survey
More than four in 10 Democrats said President Biden should not be the party’s nominee following his lackluster debate performance, according to a new survey. The USA Today/Suffolk University poll found 41 percent of Democrats said that they think ...Joe Biden -
The Wall Street Journal - World
U.S. Soccer Plunged Into Crisis After Another Tournament Failure
The Americans crashed out of the Copa America on Monday, raising questions about the future of coach Gregg Berhalter and the makeup of the team that will co-host the 2026 World Cup -
The Wall Street Journal - Business
China's 618 Shopping Event Brought in Sales, But Perhaps Not Profits
The second-biggest online shopping event of the year in China generated big sales, but not necessarily the windfall that retailers have come to expect, analysts say.China -
Financial Times - World
Could Democrats replace Biden at an ‘open convention’?
Calls for president to pull out of US election race shine light on event that could be display of unity or open warfareJoe Biden -
Financial Times - World
FirstFT: Investors predict a hung parliament in France, after RN wins first-round vote
Also in today’s newsletter, anxieties mount among Democrats and mega-cap companies dominate US markets growth -
The Wall Street Journal - World
China EV Sales Rallied in June on Policy, Price Cuts
Chinese electric vehicle makers had robust sales in June, helped by government subsidies, tax breaks and steep discounts that brought buyers back into showrooms after a sluggish start to the year.China -
Wired - Tech
The Future of Vaping After the Fall of Juul
This week, we talk to the hosts of the new podcast Backfired about how the e-cigarette industry got to where it is today and where it can go from here. -
MarketWatch - Business
Nike’s stock sees biggest drop ever as some analysts question company’s leadership after downbeat forecast
As Nike shares ended Friday with their biggest drop ever following the sneaker maker’s pessimistic outlook a day earlier, Wall Street analysts were retrenching — with some even questioning the company’s management. -
BBC News - Top stories
China rocket crashes after 'accidental' launch
Footage shows the Tianlong-3 rocket falling back to Earth and exploding in a hillside in central China.China -
The Wall Street Journal - World
Sainsbury's Backs Outlook After Sales Rise
Sainsbury’s reiterated its guidance for fiscal 2025 after benefiting from a robust and sustained momentum in grocery sales. -
ABC News - Top stories
Tesla sales fall for second straight quarter despite price cuts, but decline not as bad as expected
Tesla’s global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company’s products and electric vehicles overall -
The Wall Street Journal - World
Nike shares tumbled 20% in their worst day on record, dragging down the Dow and S&P 500, which fell 0.1% and 0.4%, respectively. The Nasdaq lost 0.7%.
Nike shares tumbled 20% in their worst day on record, dragging down the Dow and S&P 500, which fell 0.1% and 0.4%, respectively. The Nasdaq lost 0.7%. -
ABC News - World
China and the Philippines hold crucial talks to ease tensions after intense clash in disputed waters
China and the Philippines have held a crucial meeting to try to ease mounting tensions following their worst confrontation in the disputed South China Sea last monthChina -
CNBC - Business
Nike CEO John Donahoe comes under fire as stock sees worst day on record
Nike's CEO John Donahoe has helmed the sneaker giant for nearly five years, but under his watch, its stock has underperformed and its lost market share. -
Financial Times - Business
Bain’s new boss says consultancy pulling back from work in China
Tension between Beijing and Washington has increased scrutiny of western businesses operating thereChina -
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ABC News - World
A Norwegian citizen has been arrested on suspicion of spying for China, a report says
Intelligence officials in Norway says that a Norwegian citizen has been arrested on suspicion of attempting to spy for China -
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MarketWatch - Business
Fed stress tests fall short, finance professor says
Tomasz Piskorksi of Columbia Business School says Fed didn’t include scenarios that killed Silicon Valley Bank, First RepublicFederal Reserve -
MarketWatch - Business
Stocks will fall 30% as the U.S. economy heads for a painful recession, strategist says
Move over, J.P. Morgan — we have a new contender for most apocalyptic stock-market forecast. -
The New York Times - World
Taiwanese Are Told to Avoid China After It Threatens Independence Backers
Beijing released new rules calling for execution of “diehard” Taiwanese independence supporters, as hostilities surrounding Taiwan’s status rise.China -
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ABC News - Top stories
After Beryl strengthens to a Category 5, hurricane warning for Jamaica
After Hurricane Beryl strengthened to a Category 5 while over the ocean, a Hurricane warning is now in effect for the island of Jamaica, according to the NHC. -
CBS News - Top stories
Gay man finally allowed to donate blood after 10 years of volunteering
Though he's volunteered with the American Red Cross for a decade, it wasn't until last year that Ralph Galvan, a gay man, was able to donate blood himself.