Latest news for Claren Energy (OTC:CNENF) Stock

Claren Energy Corp is a Canada-based company that is principally engaged in the business is the acquisition and exploration of petroleum and natural gas properties. Geographically, the company operates within Canada and Romania. It generates majority of its revenue from Canada.

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Stocks That Hit 52-Week Lows On Thursday

CLAREN ENERGY CORP by Claren Energy Corp.

Claren Energy Corp

<a href="https://fortune.com/2024/10/02/costco-platinum-bars-for-sale-precious-metals/" title="https://fortune.com/2024/10/02/costco-platinum-bars-for-sale-precious-metals/">https://fortune.com/2024/10/02/costco-platinum-bars-for-sale-precious-metals/</a>

COST

'Costco Adds Platinum To Its Growing Line Of Precious Metal Offerings' - Fortune

Digital advertising&#8217;s heavy hitters are entering the fourth quarter with positive momentum, according to Wedbush Securities&#8217; <a href="https://www.benzinga.com/topic/dan-ives">analyst Dan Ives</a>. 
In Wedbush Securities&#8217; latest survey of over 200 U.S.-based marketers, advertisers expressed bullish sentiments for Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), The Trade Desk Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), and Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) as the sector prepares for 2025 and beyond.
<h2 class="wp-block-heading">Meta: Bucking The Slowdown Trend?</h2>
Meta is getting encouraging marks from advertisers, with only a slight deceleration in growth reported between the second and third quarter. More importantly, spending intent for 2025 looks bright. 
"Advertisers we reached are planning to accelerate their Meta ad spending in 2025 versus 2H24," Ives notes. 
This upbeat sentiment counters market models that expect a slowdown, and Meta is projected to outperform consensus estimates for next year.
<h2 class="wp-block-heading">The Trade Desk: Accelerating Growth</h2>
For The Trade Desk, it's more good news. 
Growth appears to be picking up speed, with advertisers reporting stronger numbers for the third quarter compared to second. 
"Our survey showed accelerating growth for TTD in 3Q versus 2Q," Ives observed. While consensus expects stable growth, the sentiment from advertisers implies a stronger performance as we head into the final quarter of 2024 and beyond.
Read Also: <a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year">Tesla Stock Plunges 3% Despite Q3 Deliveries Exceeding Consensus And Growing Year-Over-Year</a>
<h2 class="wp-block-heading">Amazon: Stronger Ad Spending Growth</h2>
Amazon's advertising game is also on the rise, with advertisers noting a sequential improvement in the third quarter. "Our survey suggests a sequential improvement in Amazon's ad business in 3Q," according to Wedbush. 
While analysts expect Amazon's ad revenue growth to slow slightly, Wedbush estimates still show a healthy increase of more than 19% year over year.
<h2 class="wp-block-heading">A Bullish Future?</h2>
With strong feedback across Meta, Trade Desk, and Amazon, Wedbush&#8217;s survey points to a robust future for digital advertising. 
As marketers ramp up spending into 2025, these tech giants could see their ad revenue growth exceed expectations, reinforcing their dominant positions in the digital landscape.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41139084/nvidia-expands-ai-offerings-with-new-open-source-models-and-unreal-engine-5-plugins">Nvidia Expands AI Offerings with New Open-Source Models and Unreal Engine 5 Plugins</a></li>
</ul>
Image: Shutterstock

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Tech

AMZN

Meta, Trade Desk, Amazon: Digital Ad Titans Set For Strong 2025 Growth, Tech Analyst Says

Jefferies analyst Sheila Kahyaoglu maintains United Airlines Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) with a Buy and raises the price target from $69 to $75.

Price Target

Jefferies Maintains Buy on United Airlines Holdings, Raises Price Target to $75

Under Armour, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UA#NYSE">UA</a>) stock is moving lower in sympathy with Nike which fell after reporting a first-quarter <a href="https://www.benzinga.com//node/41129610">revenue miss.</a> 
What To Know: Nike reported quarterly revenue of $11.59 billion, missing analysts estimate of $11.65 billion. The company broke down revenue further.
Specifically, Nike reported Brand Revenues down 10% percent at $11.1 billion, Direct Revenues down 13% at $4.7 billion, Wholesale Revenues down 8% at $6.4 billion and revenue from Converse down 15% at $501 million.
In addition, the company reported EPS of 70 cents beating analysts estimate of 52 cents. Nike also reported inventories of $8.3 billion, down 5% compared to the prior year.
Nike is the largest sportswear company in the world, while Under Armour, though smaller, emphasizes performance-driven gear.
How To Buy Under Armour Shares
By now you're likely curious about how to participate in the market for Under Armour (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UA#NYSE">UA</a>) &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
Related Link: <a href="https://www.benzinga.com/news/24/10/41129365/what-happened-with-rivian-stock-today">What Happened With Rivian Stock Today?</a>
UA Price Action: Under Armour stock is trading 2.69% lower at $8.13 as of Wednesday morning per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shutterstock

What's Going On With Under Armour Shares Wednesday?

<a href="https://x.com/Teamsters/status/1841502404870623364" title="https://x.com/Teamsters/status/1841502404870623364">https://x.com/Teamsters/status/1841502404870623364</a>

Contracts

Management

Teamsters Posts On X "BREAKING: Over 100 Amazon warehouse workers at the trillion-dollar company's DCK6 warehouse in San Francisco have joined the Teamsters and are demanding that Amazon recognize their union and negotiate a Teamsters contract...."

Jefferies analyst Sheila Kahyaoglu maintains Southwest Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) with a Underperform and raises the price target from $20 to $24.

Jefferies Maintains Underperform on Southwest Airlines, Raises Price Target to $24

Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Wednesday.</a>
Ford Motor reported a 4% increase in U.S. retail sales <a target="_blank" href="https://media.ford.com/content/fordmedia/fna/us/en/news/2024/10/02/growing-electric--hybrid--truck-sales-back-q3-gains--ford-no--1-.html" rel="noreferrer noopener">for the third quarter</a>, with overall sales up nearly 1%, in contrast to a 2% decline for the total industry.
Total U.S. vehicle sales for the quarter totaled 504,039 units, up 0.7% from 500,504 in the same period last year.
Ford said it is the second-largest electric vehicle brand in the U.S., with sales rising 12.2% in the third quarter, and it achieved the highest transaction prices among non-luxury electric vehicle brands.
Additionally, Ford said it holds a 77% share in the hybrid truck segment, with total hybrid sales up 38%.
Ford also stated that as America&#8217;s best-selling brand in the third quarter, Ford leads in several categories, including trucks (F-Series), hybrid trucks (F-150 Hybrid), vans (Transit), three-row SUVs (Explorer), and sports cars (Mustang).
Furthermore, active&nbsp;subscriptions to the Ford Pro Intelligence software platform have increased by an estimated 30% year-over-year.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, F stock has fell over 14% in the past year. Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Transportation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>) and&nbsp;Invesco Exchange-Traded Fund Trust II Invesco S&amp;P Ultra Dividend Revenue ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDIV#NYSE">RDIV</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41140072/ford-reduces-costs-of-hands-free-driving-technology-bluecruise-in-us-now-also-available-as-a-one-tim" rel="noreferrer noopener">Ford Reduces Costs Of Hands-Free Driving Technology, BlueCruise, In US: Now Also Available As A One-Time Purchase</a>
Meanwhile, the automaker is reportedly asking the U.K. government to reintroduce subsidies to enable carmakers reach sales targets as consumers shun electric vehicles.
Chancellor of the Exchequer&nbsp;Rachel Reeves&nbsp;needs to bring back incentives to stimulate customer demand for EVs, said&nbsp;Lisa Brankin, chair of Ford UK and the company's managing director for Britain and Ireland, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-01/ford-asks-uk-for-subsidies-to-boost-electric-vehicle-sales?sref=TBDibEcD" rel="noreferrer noopener">reported </a>Bloomberg.
Price Action: F shares are trading lower by 2.47% to $10.49 at last check Wednesday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year" target="_blank" rel="noreferrer noopener">Tesla Stock Plunges 3% Despite Q3 Deliveries Exceeding Consensus And Growing Year-Over-Year</a></li>
</ul>

Equities

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General

FTXR

RDIV

Ford's US Sales Edge Up In Q3; EV Sales Continue To Climb

Biotech

Global

NVAX

World Organization For Animal Health Says Hungary And Italy Report Farm Outbreaks Of Highly Pathogenic H5N1 Bird Flu

MMTec, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) shares are moving higher on Wednesday on continued strength in Chinese stocks after China&#8217;s Central Bank announced <a href="https://www.benzinga.com/news/24/09/41097864/china-stocks-jump-as-stimulus-optimism-mounts-whats-going-on">stimulus measures</a> last week. 
Additionally National Day Golden Week, a week long public holiday, kicked off on Tuesday.
What To Know: The bank&#8217;s stimulus measures include a cut to the reserve requirement ratio by 0.5 percentage points, lowering the loan prime rate and deposit rates by 0.2 to 0.25 percentage points and decreasing the seven-day reverse repurchase rate to 1.5%.
Capital Economics chief Asia Economist Mark Williams told Reuters that the package, &#8220;would lift annual output by 0.4% relative to what it would otherwise have been. It&#8217;s late in the year, but a new package of this size that was implemented soon should be enough to deliver growth in line with the &#8216;around 5%&#8217; target.&#8221;
Traditionally, China sees an increase in tourism during the week long holiday leading to a boost in China&#8217;s economy. However, the recent slowness in the country&#8217;s economy may lead to lower travel related spending throughout the holiday.
Besides MMTEC, other US-listed Chinese stocks are also moving higher on Wednesday following the bank&#8217;s stimulus measures, including JD.Com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) and Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>).
How To Buy MMTec Stock
By now you're likely curious about how to participate in the market for MMTEC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
See Also: <a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year">Tesla Stock Plunges 3% Despite Q3 Deliveries Exceeding Consensus And Growing Year-Over-Year</a>
MTC Price Action: At the time of writing, MMTec shares are trading 49% at 70 cents, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Shutterstock/ solarseven

BABA

What's Going On With MMTec Shares Wednesday?

TotalEnergies Chairman And CEO Says Planned Mozambique Project Remains Profitable, We Remain Committed To It; Plans To Visit Mozambique By End Of This Month To Meet New President; On Mozambique Project: Waiting For Another Three Countries To Confirm Commitments On Financing, Waiting On Green Light On Financing From Three Credit Agencies, As Soon As That Is In Place We Will Move, Targeting First Oil From This Project In 2029; Targeting First Oil From This Project In 2029

Jefferies analyst Sheila Kahyaoglu maintains Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) with a Buy and raises the price target from $56 to $60.

Jefferies Maintains Buy on Delta Air Lines, Raises Price Target to $60

GE Aero (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) has outperformed the market over the past 5 years by 20.79% on an annualized basis producing an average annual return of 35.34%. Currently, GE Aero has a market capitalization of $203.00 billion. 
Buying $100 In GE: If an investor had bought $100 of GE stock 5 years ago, it would be worth $439.28 today based on a price of $187.22 for GE at the time of writing.
<h3>GE Aero's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727883111_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In GE Aero 5 Years Ago Would Be Worth This Much Today

Options

General Motors Option Alert: Oct 11 $46.5 Calls Sweep (49) Near The Ask: 2000 @ $0.761 Vs 1087 OI; Earnings 10/22 Before Open Ref=$45.285

Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) has outperformed the market over the past 20 years by 2.1% on an annualized basis producing an average annual return of 10.52%. Currently, Crown Castle has a market capitalization of $51.07 billion. 
Buying $1000 In CCI: If an investor had bought $1000 of CCI stock 20 years ago, it would be worth $7,489.89 today based on a price of $117.52 for CCI at the time of writing.
<h3>Crown Castle's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727883106_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 20 Years Ago Would Be Worth $7,500 Today

Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) announces the opening of its first restaurant in Dubai today in partnership with leading international franchise retail operator Alshaya Group. Located at 'The Beach' at Jumeirah Beach Residence (JBR), this new location marks Chipotle's first restaurant in the United Arab Emirates, with a second location planned to open in the region at the Dubai Hills Mall in the coming months.
The new Chipotle at JBR is set in a marquee location along the beachside boulevard, spanning over 6,000 square feet, and is open from 10:00am – 12:00am local time on weekdays; and until 1:00am local time on weekends.
In April, Chipotle's expansion into the Middle East began with a restaurant at The Avenues,&nbsp;Kuwait's&nbsp;largest shopping mall, which marked the first time the company had entered a new country in over 10 years. Last month, Alshaya Group opened a second Chipotle restaurant in Kuwait, located at The Walk Mall in Ardiya.

Chipotle's First Restaurant Opens In Dubai With Alshaya Group, Located At 'The Beach' At Jumeirah Beach Residence

Jefferies analyst Sheila Kahyaoglu maintains American Airlines Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) with a Hold and raises the price target from $10 to $11.

Jefferies Maintains Hold on American Airlines Gr, Raises Price Target to $11

Looking into the current session, Virco Mfg Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRC#NASDAQ">VIRC</a>) shares are trading at $13.19, after a 0.92% decrease. Over the past month, the stock fell by 7.75%, but over the past year, it actually increased by 90.97%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2024/1727883034_0.png" alt="Past Year Chart" />

<h3>Evaluating Virco Mfg P/E in Comparison to Its Peers</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of the 515.35 in the Commercial Services &amp; Supplies industry, Virco Mfg Inc. has a lower P/E ratio of 8.17. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1727883034_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

VIRC

A Look Into Virco Mfg Inc's Price Over Earnings

Nike Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) <a href="https://www.benzinga.com/news/earnings/24/10/41129610/nike-q1-earnings-revenue-miss-eps-beat-teams-energized-amid-ceo-transition-a-comeback-at-this-scale">first-quarter financial results </a>showed that a turnaround by incoming CEO Elliot Hill could take longer than expected and come with increasing challenges, according to analysts.
The Nike Analysts: 
<ul>
<li>RBC Capital analyst Piral Dadhania maintained a Sector Perform rating and lowered the price target from $85 to $82.</li>
<li>Truist analyst Joseph Civello maintained a Hold rating and lowered the price target from $85 to $83.</li>
<li>Morgan Stanley analyst Alex Straton maintained an Equal-Weight rating with a price target of $82.</li>
<li>Stifel analyst Jim Duffy maintained a Hold rating with a price target of $79.</li>
<li>Oppenheimer analyst Brian Nagel maintained an Outperform rating with a price target of $120.</li>
</ul>
Read Also: <a href="https://www.benzinga.com/analyst-ratings/price-target/24/09/41105723/nike-q1-earnings-preview-china-north-america-in-focus-analyst-says-not-much-to-get-e">Nike Q1 Earnings Preview: China, North America In Focus, Analyst Says &#8216;Not Much To Get Excited About Yet&#8217; With CEO Change</a>
RBC Capital: With a new CEO at the helm, Dadhania said Nike's "product pivot will take time" in a new investor note.
The analyst lowered revenue and earnings per share estimates with soft traffic and unit sales reported in the first quarter.
"The market likely looks through some of the near term earnings headwinds, with focus on the new CEO strategy, improving product offer and Performance focus," Dadhania said.
Nike's new products are performing well and an acceleration is expected in the Running category, the analyst added.
Truist: New CEO Elliot Hill taking over could present a "long/uncertain path" for Nike, Civello cautioned in a new investor note.
"With another miss vs. depressed expectations, Nike's visibility into its own business appears lower than we previously anticipated, which adds an incremental layer of difficulty to an already-tough task for incoming CEO Elliot Hill," Civello said.
The analyst said the new CEO change could push out optimistic expectations for a turnaround by Spring 2026 that bulls had been expecting.
Competition from On Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) and Deckers Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>), which owns HOKA could continue to hurt Nike, the analyst cautioned.
Civello said optimistic expectations that Hill can improve Nike's wholesale business will prove tougher as Nike's brand continues to "fade faster" and Nike's leverage with retail partners has shrunk.
Nike holds a dominant share position. However, the marketplace is &#8220;a lot more competitive than it was during Mr. Hill's prior tenure with Nike,&#8221; Civello adds. It remains to be seen if Civello can be &#8220;as effective given these new dynamics."
Morgan Stanley: First quarter earnings from Nike provided more for the bears than for the bulls, Straton said.
A worse-than-expected Q2 outlook and withdrawn fiscal-year guide overshadowed the headline Q1 beat, Straton said.
Weaker demand, rising inventory levels and risks of more promotional activity could give bears more to lean on, the analyst added.
"The stock likely proves range-bound while outstanding debates linger."
With Nike postponing its Investor Day and a new CEO coming into the mix, Straton said the company's strategy is "still not entirely clear."
Stifel: Declines in North America, EMEA and digital segments show Nike's market share losses, Duffy said.
"We agree with management comments that ‘a comeback of this scale takes time,'" Duffy said.
The analyst said recent stock activity shows that investors may have been betting on more of a near-term comeback for Nike.
"With a new CEO assuming the role in two weeks, we expect a return to growth sufficient to justify the high-twenties forward P/E multiple unlikely until 1HCY26 at the earliest."
Duffy said Nike remains the number one athletic brand and has a history of innovation and scale advantages.
"Lofty market share, increasingly credible competition, and recent footwear share losses, however, are resulting in revenue declines and margin pressure."
Oppenheimer: New product innovations were a key highlight for Nike in the quarter, Nagel said.
The analyst said Nike's new product innovations saw double-digit revenue growth in the quarter.
"Senior leadership remains optimistic around the product pipeline in running footwear and apparel, and announced plans for new running franchises priced below $100, allowing the brand to be more accessible to lower price-point consumers," Nagel said.
Nagel said Nike withdrawing fiscal 2025 guidance is likely done with the intention of clearing the deck for the new CEO as the company works on a "more aggressive turnaround effort."
Price Action: Nike stock is down 5.73% to $84.05 on Wednesday versus a 52-week trading range of $70.75 to $123.39. Nike stock is down 23% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40957353/nikes-new-ceo-elliott-hill-to-focus-on-repairing-retailer-relations">Nike&#8217;s New CEO Elliott Hill To Focus On Repairing Retailer Relations</a></li>
</ul>
Image: Shutterstock

Reiteration

DECK

ONON

Nike Stock Takes Hit After Q1 Earnings: Analysts Expect Comeback To Take Time With 'Uncertain Path'

Stifel analyst David Grossman maintains Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) with a Hold and raises the price target from $130 to $141.

PAYX

Stifel Maintains Hold on Paychex, Raises Price Target to $141

Stifel analyst Nathan Jones maintains Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) with a Buy and raises the price target from $633 to $691.

Stifel Maintains Buy on Parker Hannifin, Raises Price Target to $691

Claren Energy

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Latest news for Claren Energy (OTC:CNENF) Stock

Thursday, February 27, 2020