Stocks to Watch: Nike, SoftBank, Strategy

Dow Jones
5 hours ago

Nike (NKE): The sportswear giant's stock slumped 9% in premarket trading after it said it expects sales to keep declining this fiscal year, singling out its struggles in China, its second-biggest market.

Volvo Car (SE:VOLCAR.B): The Swedish auto maker fell 3% after it scrapped its full-year guidance, saying deterioration in the Chinese car market and slow recovery in the U.S. hurt sales.

SoftBank Group (JP:9984): The Japanese tech investor closed lower in Tokyo, giving up some recent gains after its stock rallied 24% in September. The drop came after faster-than-expected inflation in Japan raised expectations that its central bank will hike interest rates.

Strategy (MSTR): The crypto-hoarding company gained 3% ahead of the opening bell as bitcoin rose back above $86,000. Other crypto-linked stocks such as Coinbase Global (COIN) also rose.

IG Group (UK:IGG): Shares of the U.K.-based online trading firm sank more than 20% after it sharply cut its growth forecast.

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