U.S. Movers: FedEx, Nike

Scott Peters
19 Dec, 2025
New York City

Nike Inc. dropped 10.5% to $58.75 despite the athletic shoemaker's quarterly results surpassing market expectations, but sales weakness in China and U.S. tariff-driven hits to overall margins pressured the stock. 

Revenue in the fiscal second quarter ending in November increased 1% to $12.4 billion from $12.35 billion, net income plunged 32% to $792 million from $1.2 billion, and diluted earnings per share dropped to 53 cents from 78 cents a year ago. 

Nike said gross margin decreased 300 basis points to 40.6% and inventories declined 3% to $7.7 billion, primarily due to higher tariffs in the U.S. 

The increase in North America sales by 9% to $5.6 billion from $5.2 billion was offset by a 17% plunge in Greater China sales to $1.4 billion from $1.7 billion a year ago. 

FedEx Corp. decreased 2.2% to $281.0, and the parcel delivery company's fiscal second-quarter results topped market expectations. 

Revenue in the fiscal second quarter of 2026 ending in November increased 7% to $23.5 billion from $22.0 billion, net income increased 29% to $956 million from $741 million, and diluted earnings per share jumped 33% to $4.04 from $3.03 a year ago. 

FedEx confirmed it is on track to change its fiscal year-end to December 31 from May 31, effective June 1, 2026.  

The company revised its fiscal 2026 revenue growth outlook to range between 5% and 6% from the previous range between 4% and 6%. 

FedEx revised its diluted earnings per share range to between $14.60 and $16.0 from the previous estimated range between $14.20 and $16.0, before retirement plan accounting adjustments. 

The Memphis, Tennessee-based company lowered its pension contributions estimate to $275 million, compared to the prior forecast of up to $400 million.  The company reiterated its capital expenditure estimate of $4.5 billion in the current fiscal year.