Before you call, check out the companies that are making headlines. Nike – Shares fell 6.2% after the iconic sneaker brand reported slower growth in China in the third quarter of fiscal 2024, despite reporting better-than-expected quarterly revenue and earnings, helped by sales in North America and price changes. Lululemon — Shares fell nearly 13% after the sportswear retailer posted holiday earnings Thursday that beat expectations but posted lower-than-expected guidance as the athletic apparel maker grapples with slowing demand in North America. Reddit – Social media shares fell more than 4%, giving back some of the gains from the previous day’s IPO. Reddit shares soared more than 48% on Thursday after its IPO price was $34 per share. Best Buy — Shares of the electronics retailer gained 2% after JPMorgan raised its investment rating from neutral to outperform. The bank sees an improving outlook for Best Buy, in part because of pre-school computer trends. JPMorgan also raised its price target by $12 to $101, implying 26% upside. FedEx Shares jumped 12% in premarket trading after the shipping company reported quarterly earnings of $3.86 per share on revenue of $21.7 billion. Analysts were expecting $3.45 per share on revenue of $22, according to LSEG. 04 billion Dutch Bros. — The stock lost 6% after the drive-thru chain offered 8 million shares at $34 each Thursday through Morgan Stanley. LVMH — Shares fell more than 3.5% on news that Antonio Belloni will step down from his top job as deputy CEO to Bernard Arnault at the French luxury goods company. Belloni, who was managing director of the LVMH group and chairman of its executive committee, will become president of LVMH Italy when he steps down from his posts in April. — CNBC’s Jesse Pound, Tanaya Machil and Michelle Fox Theobald contributed reporting.
