On this episode of Stock Movers:
- Shares of Nike (NKE) moved higher ahead of the open after signs that turnaround efforts at the world’s largest sportswear company are starting to pay off. Sales fell 1% on a currency-neutral basis in the company’s most-recent quarter, according to a statement, which was a smaller drop than investors anticipated. Gains at Nike’s wholesale and running shoe business, which had previously been weak spots, helped fuel sales of $11.7 billion, more than the $11 billion expected by Wall Street.
- Cal-Maine Foods (CALM) decline in premarket trading after the egg producer posted first quarter profit and sales that disappointed.
- Lithium Americas (LAC) shares surge to their highest level in nearly two years in the premarket session after US Energy Secretary Chris Wright told Bloomberg Television that the US government agreed to acquire a stake in the company. The US will take a 5% equity stake in the Vancouver-based company and a 5% stake in its Thacker Pass mining project, the largest lithium deposit in the country. The company also reached an accord with the Department of Energy to draw on a previously agreed upon $2.23 billion loan.