Stock Movers

On this episode of Stock Movers:

 - FedEx shares slipped after lowering its full-year guidance for the third consecutive quarter due to inflation and uncertain demand for shipments. The company cited a "very challenging" operating environment, including a shorter peak shipping season and severe weather.

- Nike's shares fell in pre-market trading as the company signaled further declines in revenue and profitability due to an ongoing merchandise reset and the impact of US tariffs on products from China and Mexico. The company is trying to clear out old inventory through heavy discounting, but inventory levels remain "elevated across all categories", and gross margin is expected to decline sharply in the current quarter.

- Micron shares are moving down in premarket despite giving forecasts fiscal third-quarter revenue of about $8.8 billion, exceeding average analyst estimates of $8.55 billion. The company's strong demand is driven by components used in data center machines for artificial intelligence software, with data center revenue tripling from last year.

- NIO stock dropped on Friday after the electric vehicle maker missed Wall Street's revenue forecast and issued disappointing guidance. NIO reported fourth-quarter revenue of 19.7 billion Chinese yuan ($2.70 billion), as the number of EVs it delivered climbed 45% from a year ago to 72,689. Analysts were expecting revenue of $2.79 billion, according to FactSet consensus estimates. Guidance also looked soft.

- Lockheed Martin share are up with the White House set to announce the winner of the contest to build the next-generation fighter jet on Friday, choosing between Lockheed Martin and Boeing. The announcement will be made nearly two years after the Air Force issued a formal request for proposals for the Next Generation Air Dominance manned fighter, with plans to spend up to $16 billion on research and development through 2028.

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On this episode of Stock Movers:

- London’s Heathrow airport will close all day Friday after a nearby fire caused a major power outage, throwing one of the world’s busiest airports and the travel plans of hundreds of thousands of people into chaos. Home to airlines including IAG SA’s British Airways and Virgin Atlantic, Heathrow handles more than 1,400 flights and 200,000 passengers every day, and about 40 aircraft take off every hour at peak times on average.The airport, by far the biggest in the UK, is a major hub for trans-Atlantic travel as well as connections into the Middle East and Asia. While London has other airfields, including Gatwick and the smaller Stansted near Cambridge, Heathrow handles the lion’s share of air connections, and an outage on the current scale is unprecedented for the airfield.

- Douglas shares fall as much as 23%, the most ever and to a record low after the German beauty product retailer issued a profit warning, citing increasing competition and a consumer slowdown in France and Germany, its two biggest markets.

- J D Wetherspoon shares slide as much as 12%, hitting a two-year low, after Shore Capital said it expects consensus estimates to fall after the pub chain’s results came in softer than anticipated in the first half. Jefferies said it sees limited scope for its valuation multiple to expand due to concerns circling around the UK consumer.

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On this episode of Stock Movers: 

- Accenture shares tumbled after the consultancy said its US government work has slowed amid Elon Musk’s cost-cutting push. The company, with nearly 800,000 employees around the world, said new procurement actions had decreased amid President Donald Trump’s spending crackdown, hurting its sales and revenue. Accenture Chief Executive Officer Julie Sweet said on a call discussing earnings that federal services accounted for about 8% of its global revenue and about 16% of its Americas revenue in the 2024 fiscal year. 

- Darden shares rise as much as 7.8%, the most intraday since Dec. 19, after management said on the conference call that it’s implied fourth-quarter guidance includes comparable sales growth above 3%, which is ahead of the consensus view of 2.3% growth. The annual forecasts also imply 4Q total sales of $3.23 billion to $3.26 billion, and adjusted EPS between $2.88 and $2.95; these compare to Bloomberg consensus estimates of $3.23 billion, and $2.93, respectively. 

- QXO has agreed to acquire Beacon Roofing Supply Inc. in a deal that values the distributor of roofing, waterproofing and exterior products at about $11 billion including debt. The agreement ends months of back-and-forth between the companies and avoids a full-blown hostile takeover battle. QXO will pay $124.35 per share in cash for Herndon, Virginia-based Beacon after a previous offer of $124.25 was rebuffed. The price represents about a 26% premium to Beacon’s closing price on Nov. 15, the last trading day before news of takeover interest first emerged.

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On this episode of Stock Movers: 
- Tesla Inc. recalled all the Cybertrucks it produced and sold in the first 15 months it’s been on the US market over a safety issue it’s having trouble resolving.The carmaker estimates that 1% of the 46,096 pickups it’s calling back have a defect, according to a recall report filed with the US National Highway Traffic Safety Administration. Pieces of steel trim along the exterior of the Cybertruck are joined to the vehicle by an adhesive that’s “susceptible to environmental embrittlement,” the company said.
- Nvidia Corp. aims to spend several hundred billion dollars to procure US-made chips and electronics over the next four years, the Financial Times reported.Chief Executive Officer Jensen Huang told the FT that the latest chips designed by his company, and Nvidia-powered servers for data centers, can now be produced at US-based factories operated by Taiwan Semiconductor Manufacturing Co. and Foxconn Technology Group. It marked a major step forward in supply chain resilience for the Santa Clara, California-based chipmaker, Huang added.
- Darden shares rise the most intraday since Dec. 19, after management said on the conference call that it’s implied fourth-quarter guidance includes comparable sales growth above 3%, which is ahead of the consensus view of 2.3% growth. The annual forecasts also imply 4Q total sales of $3.23 billion to $3.26 billion, and adjusted EPS between $2.88 and $2.95; these compare to Bloomberg consensus estimates of $3.23 billion, and $2.93, respectively. Management said 3Q comp. sales started with a negative gap to the industry average in December, but turned positive in January and February, with both months exceeding the industry benchmark by “well over 100 basis points,” adding that for the first three weeks of 4Q, Darden is seeing further improvement in sales trends.

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On this episode of Stock Movers:
- Nvidia Corp. aims to spend several hundred billion dollars to procure US-made chips and electronics over the next four years, the Financial Times reported.Chief Executive Officer Jensen Huang told the FT that the latest chips designed by his company, and Nvidia-powered servers for data centers, can now be produced at US-based factories operated by Taiwan Semiconductor Manufacturing Co. and Foxconn Technology Group. It marked a major step forward in supply chain resilience for the Santa Clara, California-based chipmaker, Huang added.
- Five Below shares rose as much as 13% in premarket trading after the discount retailer reported fourth-quarter results that beat expectations. Still, analysts were cautious about the long-term impact of tariffs, with those at Morgan Stanley and Barclays cutting their targets. “Until there is more clarity on the tariff front, we see a balanced risk/reward at current levels,” the analysts wrote in a note.
- Piper Sandler upgrades Carvana and ACV Auctions to overweight from neutral as the broker turns bullish on vehicle technology stocks, saying they can can grow despite macro unease and higher tariffs.Analyst Alexander Potter notes that “most used car transactions don’t span international borders, and demand is relatively stable, regardless of the macro.”

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:
- Tesla shares dropped on the news it's recalling all the Cybertrucks it produced and sold in the first 15 months it was on the market in the US over a safety issue it’s having trouble resolving. The carmaker estimates that 1% of the 46,096 pickups it’s calling back have a defect, according to a recall report filed with the US National Highway Traffic Safety Administration. Pieces of steel trim along the exterior of the Cybertruck are joined to the vehicle by an adhesive that’s “susceptible to environmental embrittlement,” the company said.
- Nvidia shares rose on a report from the Financial Times that it plans to spend several hundred billion dollars to procure US-made chips and electronics over the next four years. Chief Executive Officer Jensen Huang told the FT that the latest chips designed by his company, and Nvidia-powered servers for data centers, can now be produced at US-based factories operated by Taiwan Semiconductor Manufacturing Co. and Foxconn Technology Group. It marked a major step forward in supply chain resilience for the Santa Clara, California-based chipmaker, Huang added.
- Five Below shares are moving after it forecast net sales for the first quarte and the guidance beat the average analyst estimate. The company sees net sales $905 million to $925 million, versus the estimate of $897.8 million.

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:
- Tesla shares dropped on the news it's recalling all the Cybertrucks it produced and sold in the first 15 months it was on the market in the US over a safety issue it’s having trouble resolving. The carmaker estimates that 1% of the 46,096 pickups it’s calling back have a defect, according to a recall report filed with the US National Highway Traffic Safety Administration. Pieces of steel trim along the exterior of the Cybertruck are joined to the vehicle by an adhesive that’s “susceptible to environmental embrittlement,” the company said.
- Nvidia shares rose on a report from the Financial Times that it plans to spend several hundred billion dollars to procure US-made chips and electronics over the next four years. Chief Executive Officer Jensen Huang told the FT that the latest chips designed by his company, and Nvidia-powered servers for data centers, can now be produced at US-based factories operated by Taiwan Semiconductor Manufacturing Co. and Foxconn Technology Group. It marked a major step forward in supply chain resilience for the Santa Clara, California-based chipmaker, Huang added.
- Shoe Carnival premarket shares are sinking after it said it expects sales to decline this fiscal year. The retailer expects sales of $1.15 billion to $1.23 billion for the fiscal year that started Feb. 2, down 2% to 4% from last year's total. Analysts polled by FactSet had been forecasting $1.24 billion. Full-year earnings are expected to come in at $1.60 to $2.10 a share, missing analyst projections for $2.67 a share, according to FactSet.
- Five Below shares are moving after it forecast net sales for the first quarte and the guidance beat the average analyst estimate. The company sees net sales $905 million to $925 million, versus the estimate of $897.8 million.

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers: 

- Sodexo SA shares plunged the most in almost seven years after the French food services company lowered its revenue guidance, citing slower growth at its US university business. The stock dropped as much as 16% in Paris, the biggest intraday decline since March 2018. Rival catering companies also fell, with London-listed Compass Group Plc sliding as much as 4.1%. 

- British warship maker Babcock International Group Plc will rejoin the FTSE 100 index amid a rally in defense stocks as Europe ramps up security spending. The London-based firm will replace Hargreaves Lansdown Plc in the benchmark on Monday, FTSE Russell said in a statement. A spot is opening up in the index because Hargreaves has agreed to a takeover by a group of private equity firms. 

- Swiss watch exports’ downward trajectory resumed in February after a one-month respite, with all main markets seeing a decline. Shipments from Switzerland’s third-biggest exporting industry fell 8.2% overall, hampered by slow demand in China, the Federation of the Swiss Watch Industry said Thursday. In total, 102,000 fewer watches were exported. Only watches with an export price below 200 Swiss francs ($228) posted a positive result. Mid-market watches — priced between 500 and 3,000 francs — fell 15.4%, while timepieces above 3,000 francs slipped 7.3%. Precious metal watches held up better than steel watches, despite high gold prices.

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Stock Movers is a new, five-minute podcast on today's winners and losers in the stock market. Listen for analysis on the companies making news in markets.     

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