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Today is Friday, October 2, 2026.
The Early Bird Index today is 89.65.
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Nike's Full-Year Warning 📉
Just when you thought things couldn’t get any worse for Nike $NKE ( ▼ 0.71% ), the company posted mixed financial results on Thursday. The stock fell 8.71% in after-hours trading.
Financials: Nike reported earnings of 48 cents per share in the past quarter, which were better than expected. However, revenue was just $11.2 billion, which was lower than expected.
Details: Revenue fell 4% year-over-year, including an 8% decline in revenue for the company’s direct-to-consumer business.
Revenue for digital sales decreased 13%, and there was a 5% drop for Nike-owned stores.
Sales across China fell 22% overall.
Revenue for Converse plunged 28% due to declines across all territories.
Powering the Story: Nike now anticipates revenues to decline for the full fiscal year.
Also: Nike’s CEO said on Thursday that the company will see restructuring and layoffs in 2027, which Nike hopes will save $2.5 billion through 2031.
Early Bird’s Nest Egg Gains: Nike is still struggling because it is attempting a multi-year reset while several core revenue engines are weak at once.
Older lifestyle franchises are declining, newer products have not yet replaced that volume, China is deteriorating, and competitors have taken share.
Final Thoughts: The stock was already down 44% this year.
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Notables
Notable Earnings Today: N/A.
Notable IPOs Today: WISeSat.Space Holdings Corp. Ordinary Shares (Nasdaq: SAIQ).
Notable Equity Crowdfunding Campaigns Ending Today: Eisana Health (Wefunder).
Notable Economic Events Today: Unemployment Rate (8:30 a.m. ET), Average Hourly Earnings (8:30 a.m. ET), Nonfarm Payrolls (8:30 a.m. ET), Labor Force Participation Rate (8:30 a.m. ET), Factory Orders (10:00 a.m. ET).
Onsemi Revises Synaptics Deal
ON Semiconductor $ON ( ▲ 4.18% ) jumped 7.13% and Synaptics $SYNA ( ▲ 4.69% ) surged 15.03% in after-hours trading on Thursday after announcing a revised acquisition deal.
Details: Onsemi will now acquire Synaptics for $123 per share in cash, valuing the company at $5.7 billion.
Quote: “The all-cash transaction delivers higher value to our shareholders through lower total cost consideration.” - Onsemi CEO Hassane El-Khoury.
Final Thoughts: Investors seemed to favor this deal over the previous agreement in June, which valued Synaptics at $7 billion.
American Outdoor Brands Announces New Buyback
American Outdoor Brands $AOUT ( ▼ 0.99% ) jumped 2.03% in after-hours trading on Thursday after announcing a new stock buyback of $10 million.
Final Thoughts: The stock price has more than doubled this year.
Trends to Watch
Increased Investor Access: The U.S. just made it much easier for retail investors to access private markets (CNBC)
Higher Expectations: Citi raises bitcoin, ether forecasts on strong crypto activity (Reuters)
October Hope: Bitcoin Price Enters October Near $85K—Now $95K Is Back in Play (Bitcoin News)
Agreement: Boeing’s white-collar union approves contract offer, avoiding strike (The Seattle Times)
Buying Barbie: Barbie-Maker Mattel Draws Takeover Interest From Authentic Brands Group (Wall Street Journal)
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