Stocks to Watch: Nike, AAR, Mission Produce
December 21 2023 - 6:58PM
Dow Jones News
By Ben Glickman
Nike now expects revenue to rise 1% for the full year ending in
May, compared with previous expectations of mid-single digit
growth. The company said it expects revenue in the current quarter
to fall slightly, after reporting second-quarter revenue in line
with Wall Street's estimates and announcing $2 billion in cost cuts
over three years. Shares fall 11% to $108.86 after-hours.
AAR's profit rose slightly in the fiscal second quarter but
missed analysts' estimates. The company's sales sank under 1% from
a year ago despite higher demand in the aviation services company's
parts supply business. Shares fall 3.8% to $68.10 after-hours.
Mission Produce said it is expecting slightly lower volumes of
avocados in the current quarter due to a light Mexican harvest, as
well as a slight sequential decline in selling price. The company
swung to a profit in the fiscal fourth quarter, boosted by higher
prices. Shares fall 3.1% to $9.27 after-hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
December 21, 2023 18:43 ET (23:43 GMT)
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