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Stock futures pointed higher Friday as Wall Street awaited a fresh measure of U.S. inflation and investors closed out what has been the worst month of the year for equities.
These stocks were poised to make moves Friday:
Nike
(NKE) stock surged 8.2% in premarket trading after the athletic apparel company reported fiscal first-quarter profit that beat analysts’ estimates.
Nike
said inventories fell 10% in the period. The company also reaffirmed its fiscal-year outlook and issued upbeat guidance for its second quarter. Shares of other athletic footwear and accessory companies rose.
Foot Locker
(FL) was up 3%,
Under Armour
(UAA) rose 1.5%, and
On Holding
(ONON) jumped 3.7%.
Tesla
(TSLA) was rising 1.6% in premarket trading. The electric-vehicle maker was sued Thursday by the Equal Employment Opportunity Commission, which alleged
Tesla
subjected Black employees at its Fremont, Calif., plant, to racial harassment and a hostile work environment. Meanwhile, Tesla is expected to report third-quarter deliveries on Monday and analysts at Citi trimmed their Tesla quarterly sales estimate to 450,000 vehicles, down from a previous expectation of 468,500.
Ford
(F) rose 0.5%,
General Motors
(GM) was up 0.6%, and
Stellantis
(STLA) gained 0.5% as another strike deadline looms for the auto makers. The United Auto Workers said more workers would go on strike if enough progress wasn’t made in talks with the companies. UAW President Shawn Fain said he would provide a strike update at 10 a.m. Eastern on Friday.
Nvidia
(NVDA) rose 1.1% in premarket trading to $435.49. Shares of the semiconductor maker, a leader in chips related to artificial intelligence, have had a tough September. They peaked on the last day of August at $493.55, up 238% from the start of the year. Since then, the stock has tumbled to as low as $410, before bouncing back to $430.89 as of Thursday’s close.
PTC Therapeutics
(PTCT), the biopharmaceutical company, has cut 25% of its workforce, saying the reductions would allow it to achieve a 20% reduction in annualized operating expenses.
BlackBerry
(BB) reported a second-quarter loss of a 4 cents a share, narrower than analysts’ expectations, but revenue of $132 million missed forecasts. Shares of the Waterloo, Ontario-based security software company rose 0.2% in premarket trading.
Vail Resorts
(MTN) reported a fiscal fourth-quarter loss wider than a year earlier on “significant weather-related challenges this past season,” but the ski-resort company said it expects growth in fiscal 2024 relative to fiscal 2023.
Carnival
(CCL), the cruise operator, is scheduled to report fiscal third-quarter earnings on Friday. Shares rose 2.4% ahead of the report.
Write to Joe Woelfel at [email protected]
Barbara Terrio is a seasoned business journalist, delving into the world of finance, startups, and entrepreneurship. With a knack for demystifying complex economic trends, she helps readers navigate the business landscape. Outside of her reporting, Barbara is an advocate for financial literacy and enjoys mentoring aspiring entrepreneurs.