Market Updates
U.S. Movers: Chewy, FedEx, MillerKnoll, Nike
Scott Peters
20 Sep, 2024
New York City
FedEx decreased 13% to $261.50, and the parcel delivery company reported a sharp fall in earnings and the company lowered its annual outlook.
Nike increased 8.3% to $87.68, and the athletic footwear maker said chief executive John Donahoe would step down from the office on October 13.
Elliott Hill, a Nike veteran, would return to the company to assume the leading role.
MillerKnoll declined 7.9% to $25.30, and the office furniture maker reported weaker-than-expected revenue and earnings in its latest quarter.
Revenue in the fiscal first quarter ending in August decreased 6.1% to $851.5 million from $917.7 million, net income swung to a loss of $0.5 million from $16.1 million, and diluted earnings per share were a loss of 1.2 cents compared to a profit of 16.1 cents a year earlier.
Chewy declined 2.9% to $25.30 after the online pet products store disclosed its plans to raise $500 million through a public offering of Class A stock.
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