Micron Technology, Nike, FedEx And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 21 2025
0mins
Source: Benzinga
U.S. Stock Market Overview: U.S. stock futures are down, with the Dow futures dropping around 100 points. Micron Technology reported strong second-quarter earnings but saw its shares fall 2.6% in pre-market trading.
Other Notable Stock Movements: Several companies experienced significant declines in pre-market trading, including InnovAge Holding Corp (-20%), MAC Copper Limited (-14.8%), and FedEx Corporation (-7.7%), despite some reporting better-than-expected earnings.
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Analyst Views on NKE
Wall Street analysts forecast NKE stock price to rise
21 Analyst Rating
14 Buy
7 Hold
0 Sell
Moderate Buy
Current: 56.080
Low
62.00
Averages
76.11
High
110.00
Current: 56.080
Low
62.00
Averages
76.11
High
110.00
About NKE
NIKE, Inc. is engaged in the designing, marketing and distributing of athletic footwear, apparel, equipment and accessories and services for sports and fitness activities. The Company's operating segments include North America; Europe, Middle East & Africa (EMEA); Greater China; and Asia Pacific & Latin America (APLA). It sells a line of equipment and accessories under the NIKE Brand name, including bags, socks, sport balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment and other equipment designed for sports activities. It also designs products specifically for the Jordan Brand and Converse. The Jordan Brand designs, distributes and licenses athletic and casual footwear, apparel and accessories predominantly focused on basketball performance and culture using the Jumpman trademark. The Company also designs, distributes and licenses casual sneakers, apparel and accessories under the Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell trademarks.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Nike Secures $1 Billion Credit Line to Enhance Financial Flexibility
- Credit Line Expansion: On March 6, Nike entered a 364-day credit agreement with Bank of America, providing up to $1 billion in unsecured revolving credit, aimed at supporting working capital and general corporate purposes, which is expected to enhance the company's financial flexibility.
- Restructuring Plan Approved: In a filing dated February 27, Nike disclosed that management approved a restructuring plan expected to generate approximately $300 million in pre-tax charges for the nine months ended February 28, primarily related to employee severance costs, aimed at optimizing operational efficiency.
- Analyst Ratings Remain Positive: RBC Capital analyst Piral Dadhania reiterated an Outperform rating on Nike, maintaining a price target of $78, indicating market confidence in Nike's future performance despite current challenges.
- Earnings Outlook Declines: Nike's upcoming earnings report on March 31 is expected to show earnings per share dropping to 30 cents (down 44% year-over-year) and revenue estimates at $11.25 billion (down 0.2% year-over-year), reflecting the challenges the company faces in the market.
See More
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- JPMorgan Upgrades Oracle: JPMorgan upgraded Oracle from neutral to overweight, citing a 55% drop in shares since mid-September that has de-risked valuation, while shifting investor expectations to a lower bar for FY30 targets and OpenAI ramp.
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- Strong Earnings Report: Oracle reported robust fiscal third-quarter results, raising its revenue outlook for fiscal 2027 to $90 billion, an increase of $1 billion, surpassing analyst expectations of $86.6 billion, indicating strong growth potential in the cloud infrastructure sector.
- Stock Price Surge: Following the strong earnings report, Oracle's shares jumped over 9%, reflecting market optimism regarding its future growth prospects and bolstering investor confidence in the cloud computing market.
- AeroVironment's Weak Performance: Drone manufacturer AeroVironment reported adjusted earnings of 64 cents per share and revenue of $408 million for the third quarter, both falling short of analyst expectations of 69 cents and $476 million, leading to a 10% drop in its stock price, highlighting concerns about its profitability.
- Cadre Holdings' Earnings Miss: Cadre Holdings reported fourth-quarter earnings of 27 cents per share, significantly below the 40 cents expected by analysts, with revenue of $167.2 million also missing the forecast of $182.9 million, resulting in a nearly 9% decline in its stock price, reflecting market disappointment in its performance.
See More
Barclays Upgrades Nike, Sees 30% Upside Potential
- Rating Upgrade: Barclays upgraded Nike from equal weight to overweight, with analyst Adrienne Yih raising the 12-month price target from $64 to $73, reflecting increased confidence in Nike's future performance.
- Stock Price Potential: Yih's new price target implies about 30% upside potential for Nike's stock, despite a 12% decline this year and a 24% drop over the past 12 months, indicating market skepticism about its recovery.
- Management Performance: The analyst highlighted Nike's progress in inventory management, operational resets, and brand health as providing a more constructive investment thesis, even as risks such as tariffs and geopolitical tensions remain.
- Long-Term Investment Opportunity: Yih believes early financial indicators and management actions suggest that “the worst may be behind it,” making Nike an attractive risk/reward profile for long-term investors as it approaches a fundamental bottom and positions for renewed growth.
See More
Movers of the Day: Oracle, Diamondback Energy, Nike, Blue Owl, AeroVironment, and Others
Market Uncertainty: Stock futures are experiencing volatility as investors await further developments.
Geopolitical Tensions: Ongoing conflict in the Middle East is contributing to market instability.
Inflation Report Anticipation: Wall Street is closely monitoring an upcoming U.S. consumer inflation report for economic insights.
Investor Sentiment: The combination of geopolitical issues and economic data is creating a cautious atmosphere among investors.
See More
Nike Faces Crisis of Investor Confidence
- Significant Market Value Decline: Nike has lost approximately two-thirds of its market value since its peak nearly five years ago, reflecting management missteps and increased competitive pressure post-pandemic, which has led to diminished investor confidence.
- Strong Sales Performance: Despite challenges, Nike maintains over $46 billion in annual sales, remaining the largest brand in the industry, and continues to leverage endorsement deals with iconic athletes to sustain its global market presence.
- Solid Financial Position: With nearly $2.5 billion in free cash flow over the past year and $2.4 billion in net debt, Nike demonstrates a robust financial foundation, showcasing resilience amid adversity.
- Strategic Adjustments Showing Results: Nike's wholesale sales grew by 8% in Q2 of fiscal 2026, indicating that efforts to rebuild relationships with traditional wholesalers are beginning to pay off, and if this momentum continues, future performance may improve.
See More
Nike Secures $1 Billion Credit Line to Enhance Financial Flexibility
- Credit Line Expansion: On March 6, Nike entered a 364-day credit agreement with Bank of America, providing up to $1 billion in unsecured revolving credit, aimed at supporting working capital and general corporate purposes, which is expected to enhance the company's financial flexibility.
- Restructuring Plan Approved: In a filing dated February 27, Nike disclosed that management approved a restructuring plan expected to generate approximately $300 million in pre-tax charges for the nine months ended February 28, primarily related to employee severance costs, aimed at optimizing operational efficiency.
- Analyst Ratings Remain Positive: RBC Capital analyst Piral Dadhania reiterated an Outperform rating on Nike, maintaining a price target of $78, indicating market confidence in Nike's future performance despite current challenges.
- Earnings Outlook Declines: Nike's upcoming earnings report on March 31 is expected to show earnings per share dropping to 30 cents (down 44% year-over-year) and revenue estimates at $11.25 billion (down 0.2% year-over-year), reflecting the challenges the company faces in the market.
See More
Latest Wall Street Rating Updates
- JPMorgan Upgrades Oracle: JPMorgan upgraded Oracle from neutral to overweight, citing a 55% drop in shares since mid-September that has de-risked valuation, while shifting investor expectations to a lower bar for FY30 targets and OpenAI ramp.
- Evercore Reiterates Netflix Outperform: Evercore ISI's survey indicates strengthening customer satisfaction and pricing power for Netflix, reinforcing its status as a high-quality asset in global streaming, supported by unmatched scale and localized content production.
- Barclays Double Upgrades Arthur J. Gallagher: Barclays upgraded Arthur J. Gallagher from underweight to overweight, viewing the insurance company as a “great” defensive play in the current market environment, highlighting its resilience amid economic uncertainty.
- Barclays Reiterates Tesla Equal Weight: Barclays noted Tesla's battery energy storage system sales are capacity constrained, but expansion supports robust growth ahead, with expectations for Tesla to maintain top global market share in 2025, showcasing significant potential in the storage market.
See More
Oracle Shares Surge After Strong Q3 Results and Revenue Guidance Lift
- Strong Earnings Report: Oracle reported robust fiscal third-quarter results, raising its revenue outlook for fiscal 2027 to $90 billion, an increase of $1 billion, surpassing analyst expectations of $86.6 billion, indicating strong growth potential in the cloud infrastructure sector.
- Stock Price Surge: Following the strong earnings report, Oracle's shares jumped over 9%, reflecting market optimism regarding its future growth prospects and bolstering investor confidence in the cloud computing market.
- AeroVironment's Weak Performance: Drone manufacturer AeroVironment reported adjusted earnings of 64 cents per share and revenue of $408 million for the third quarter, both falling short of analyst expectations of 69 cents and $476 million, leading to a 10% drop in its stock price, highlighting concerns about its profitability.
- Cadre Holdings' Earnings Miss: Cadre Holdings reported fourth-quarter earnings of 27 cents per share, significantly below the 40 cents expected by analysts, with revenue of $167.2 million also missing the forecast of $182.9 million, resulting in a nearly 9% decline in its stock price, reflecting market disappointment in its performance.
See More
Barclays Upgrades Nike, Sees 30% Upside Potential
- Rating Upgrade: Barclays upgraded Nike from equal weight to overweight, with analyst Adrienne Yih raising the 12-month price target from $64 to $73, reflecting increased confidence in Nike's future performance.
- Stock Price Potential: Yih's new price target implies about 30% upside potential for Nike's stock, despite a 12% decline this year and a 24% drop over the past 12 months, indicating market skepticism about its recovery.
- Management Performance: The analyst highlighted Nike's progress in inventory management, operational resets, and brand health as providing a more constructive investment thesis, even as risks such as tariffs and geopolitical tensions remain.
- Long-Term Investment Opportunity: Yih believes early financial indicators and management actions suggest that “the worst may be behind it,” making Nike an attractive risk/reward profile for long-term investors as it approaches a fundamental bottom and positions for renewed growth.
See More
Movers of the Day: Oracle, Diamondback Energy, Nike, Blue Owl, AeroVironment, and Others
Market Uncertainty: Stock futures are experiencing volatility as investors await further developments.
Geopolitical Tensions: Ongoing conflict in the Middle East is contributing to market instability.
Inflation Report Anticipation: Wall Street is closely monitoring an upcoming U.S. consumer inflation report for economic insights.
Investor Sentiment: The combination of geopolitical issues and economic data is creating a cautious atmosphere among investors.
See More
Nike Faces Crisis of Investor Confidence
- Significant Market Value Decline: Nike has lost approximately two-thirds of its market value since its peak nearly five years ago, reflecting management missteps and increased competitive pressure post-pandemic, which has led to diminished investor confidence.
- Strong Sales Performance: Despite challenges, Nike maintains over $46 billion in annual sales, remaining the largest brand in the industry, and continues to leverage endorsement deals with iconic athletes to sustain its global market presence.
- Solid Financial Position: With nearly $2.5 billion in free cash flow over the past year and $2.4 billion in net debt, Nike demonstrates a robust financial foundation, showcasing resilience amid adversity.
- Strategic Adjustments Showing Results: Nike's wholesale sales grew by 8% in Q2 of fiscal 2026, indicating that efforts to rebuild relationships with traditional wholesalers are beginning to pay off, and if this momentum continues, future performance may improve.
See More
