Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Nike (NKE) shares tumbled after the retailer gave a surprisingly gloomy outlook for the year ahead, complicating Chief Executive Officer Elliott Hill’s efforts to turn around the business. Revenue is expected to decline 2% to 4% in the current quarter and will be down in the low single-digits for the rest of the calendar year, management told investors on an earnings call Tuesday evening. Analysts surveyed by Bloomberg had been looking for 2% sales growth this quarter and bigger gains as the year progressed.
- RH shares plunge after the upscale furnishing company forecast revenue for the first quarter that missed the average analyst estimate. Analysts say the forecast is pressured by execution and supply chain disruptions.
- Walt Disney (DIS) shares rises as Raymond James upgrades to outperform from market perform, citing an attractive entry point for the stock.