Traders work on the floor of the New York Stock Exchange (NYSE) on the first trading day of 2024 on January 02, 2024 in New York City. Spencer Platt | Getty ImagesStock futures flickered near the flatline Thursday night after the S&P 500 and the Dow Jones Industrial Average closed at new records, bolstered by enthusiasm over the Federal Reserve’s interest rate cut.Futures tied to the S&P 500 inched lower by 0.03%. Dow futures added 22 points, or 0.05%, while Nasdaq 100 futures slipped 0.1%.Shipping behemoth FedEx pulled back 10% in extended trading after the company slashed the top end of…
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Editor’s note: This article is part of The Changemakers series, focusing on the behind-the-scenes executives and people fueling the future growth of their sports.PHILADELPHIA — From the eastern boundary of Merion Golf Club, water flows southeast along the property, cutting inward across the 12th hole, framing the famed 11th green, where Bobby Jones clinched the 1930 Grand Slam. Veins of tributaries shoot from the stream, slicing through the course. One sidles up to the fifth fairway, what some consider the best par 4 in the world. Everything about Merion is immaculate. Generations of wealth in this city have assured so. Shaping, reshaping.…
The Mickey Mouse and Minnie Mouse float passes by during the daily Festival of Fantasy Parade at the Magic Kingdom Park at Walt Disney World on May 31, 2024, in Orlando, Florida. Gary Hershorn | Corbis News | Getty ImagesThe Walt Disney Company will no longer use Slack for in-house company communication months after a hack that involved more than a terabyte of company data being leaked to the public.The company had already begun to transition to a new internal “streamlined enterprise-wide collaboration tools,” but officially notified employees and cast members Thursday that most of its business units would move away…
Check out the companies making headlines in extended trading: Nike — Shares soared 10%. The sneaker company announced that CEO John Donahoe would step down from the role on Oct. 13. Nike veteran Elliott Hill, who had been at the company for 32 years before retiring in 2020, will take the helm. FedEx — Shares of the shipping company pulled back 10%. FedEx trimmed the higher end of its full-year earnings outlook and cut its revenue guidance. Fiscal first-quarter results missed the mark as well. FedEx reported adjusted earnings per share of $3.60 on revenue of $21.58 billion, while analysts…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFast MoneyBMO Senior Retail Analyst Simeon Siegel joins ‘Fast Money’ to talk what Nike’s C-Suite switchup means for the company moving forward.06:139 minutes ago Source link
Miami Beach, Florida, FedEx Express delivery van parked, driver unloading box dolly. Jeff Greenberg | Universal Images Group | Getty ImagesFedEx lowered its full-year revenue forecast and missed Wall Street estimates for first-quarter profit on Thursday as demand in the package industry remained muted, especially for priority services.The company’s shares fell about 9% to $272.83 after the bell.FedEx and other transportation firms expanded operations during the pandemic-fueled online shipping boom. The company has been trying to cut billions in overhead costs after demand normalized.In June, FedEx completed a restructuring that merged its formerly disparate Ground and Express delivery units.However, ongoing cost…
Investors poured into tech stocks at one of the fastest clips of the year a day after the Federal Reserve cut its benchmark interest rate for the first time since 2020.Led by a 7.4% gain in shares of Tesla and a 4% jump in Nvidia, the Nasdaq rose 2.5% on Thursday, its fourth-sharpest rally of 2024. The biggest gain of the year for the tech-heavy index was a 3% increase on Feb. 22.Lower interest rates tend to benefit tech stocks because reduced borrowing costs and bond yields make risky bets more attractive. In addition to the central bank’s half-point reduction,…
Follow live coverage of Atalanta vs Arsenal in the Champions League todayWhen The Athletic revealed last month that Mikel Arteta hired professional pickpockets to pinch valuables from his Arsenal players at a team dinner last season, there were plenty of people wishing they had been in the room to witness the reaction.Kevin Balvers, the club’s head of methodology for three years before moving to current Dutch champions PSV Eindhoven this summer, could do one better than that.“I was in the control room of the camera system,” Balvers laughs.“It was before the Liverpool game (Arsenal’s 3-1 home win in February) and the…
John Donahoe, CEO of Nike, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., July 10, 2024.Brendan Mcdermid | ReutersNike on Thursday announced that its CEO John Donahoe is stepping down and company veteran Elliott Hill is coming out of retirement to take the helm of the sneaker giant.Donahoe, who has been Nike’s CEO since Jan. 2020, will retire from his position on Oct. 13. Hill is slated to take over on the following day. Donahoe will stay on as an advisor through the end of January.Shares…
September has been living up to its reputation as a historically volatile month for trading , and Wall Street is divided on where some stocks will head from here. Knowing where the disagreement is can help investors navigate these choppy waters. Take the Federal Reserve’s interest rate decision on Wednesday. Debate raged over which way the central bank’s Federal Open Market Committee would lean until the very moment the vote was announced. Many economists were anticipating a 25 basis point reduction in the key overnight borrowing rate, but the odds on the CME Group’s FedWatch gauge were pricing in a…
