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- FedEx Sees "Continued Weakness"
FedEx Sees "Continued Weakness"
Plus, Nike's declining China sales.
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Today is Friday, March 21, 2025.
The Early Bird Index today is 70.36
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FedEx Sees "Continued Weakness"
FedEx $FDX ( ▼ 0.34% ) posted mixed financial earnings results and a lower outlook on Thursday, sending the stock down 5.60% in after-hours trading.
Financials: FedEx reported earnings of $4.51 per share in the past quarter, which was lower than expected. The revenue was $22.2 billion, which was better than expected.
Powering the Story: The company also lowered its full-year earnings outlook (ouch!) due to “continued weakness and uncertainty in the U.S. industrial economy.”
Early Bird’s Nest Egg Gains: FedEx relies heavily on B2B shipments, and weak demand from an uncertain economy is a problem.
Other economic headwinds for FedEx include inflationary pressures, weak consumer confidence, and tariffs.
Final Thoughts: After a weak 2024, FedEx needed to turn things around in 2025. That doesn’t appear to be the case.
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Notables
Notable Earnings Today: Carnival (NYSE: CCL), NIO (NYSE: NIO), MINISO Group Holding (NYSE: MNSO), Sow Good (Nasdaq: SOWD).
Notable IPOs Today: RedCloud Holdings plc Ordinary Shares (Nasdaq: RCT), Baiya International Group Inc. Ordinary Shares (Nasdaq: BIYA).
Notable Equity Crowdfunding Campaigns Ending Today: Maggie’s Farm Rum (Honeycomb).
Notable Economic Events Today: N/A.
Nike's Declining China Sales
Despite posting better-than-expected financial earnings results on Thursday, Nike $NKE ( ▲ 1.33% ) fell 5.23% in after-hours trading.
Financials: Nike reported earnings of 54 cents per share and revenue of $11.3 billion in the last quarter; both were better than expected.
Details: Revenue, while better than anticipated, still fell 9% during the quarter (which was the holiday season).
Powering the Story: To make matters worse, Nike’s sales in China declined by 17%. This continues a trend of Nike struggling in China.
Also: Nike expects sales to decline in the current quarter due to challenges that include tariffs.
Final Thoughts: Bad times continue for Nike. The stock is down 28% in the last 12 months.
Micron Technology Sees Robust AI Demand
Micron Technology $MU ( ▲ 2.4% ) ticked up 0.96% in after-hours trading on Thursday after the computer memory and data storage company posted good financial earnings results.
Financials: Micron reported earnings of $1.56 per share and revenue of $8.05 billion in the past quarter; both were better than expected.
Details: The company claims robust artificial intelligence demand drove record data center DRAM revenue. Micron expects record quarterly revenue in the current period.
Final Thoughts: Micron has been a bright spot in the market this year. The stock is up about 18% in 2025.
Trends to Watch
Bad Housing Market: Lennar posts lower quarterly profit on sustained market weakness (Reuters)
We’ll See: Trump once again vows to make the US a 'bitcoin superpower' in short address at crypto conference (The Block)
Can’t Make This Up: Nearly All Cybertrucks Have Been Recalled Because Tesla Used the Wrong Glue (BBC)
Eat Now, Pay Later: Klarna lands buy now, pay later deal with DoorDash, notching another win ahead of IPO (CNBC)
Risky: Trade war puts Bitcoin’s status as safe-haven asset in doubt (Cointelegraph)
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