Diamonds and Dogs

9/20/24

Nike (NKE) getting a new CEO. The Dow component is up 5% as the company is shaking up management, bringing in a new CEO to try and return the sneaker giant to its glory. The shakeup comes ahead of investor day for Nike, when many on Wallstreet expect the company to reset financial guidance for the year.

FedEx (FDX) going the wrong way. The freight company is down 14% after the company missed earnings by a wide margin, missed on sales and lowered guidance for the pull year as global demand seems to be waning, further signs of a global economic slowdown.

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