Closing Bell Movers: Nike rallies 4% after earnings beat and guidance

In the opening hour of the evening session, U.S. equity futures are slightly lower, with Dow Industrials off by 0.1% and S&P 500 and Nasdaq 100 contracts down by 0.2%.  In Commodities, WTI Crude Oil is up modestly with 0.2% gains after two days of selling following the latest inventories report from API, showing the third consecutive week of sizable draw.  Meanwhile, the government shutdown dread weighing on sentiment continues to be reflected in the precious metals space, as “safe haven” bid boosts gold to record highs of $3,890 and silver above $47 per ounce. Key Congressional votes this evening have failed to move the needle on the divide among lawmakers, and the government shutdown is a near-certainty to take effect as of midnight tonight.

Health Care was by far the best performing area of the market on Tuesday, with Health Care Select SPDR ETF (XLV) up over 2% on the day and within a whiff of a five-month high.  Drugmakers in particular reacted well to reports of progress being made in White House negotiations on pricing – Eli Lilly (LLY) rose 5%, Pfizer (PFE) gained 7%, and Merck (MRK) jumped 7% on the day.   Meanwhile, the retreat in Oil prices continued to weigh on the Energy sector – the worst performed in the S&P 500 index – as Exxon Mobil (XOM), Shell (SHEL), and ConocoPhilips (COP) all fell by over 1%.

Afterhours, investors cheered results out of Nike (NKE) for the second consecutive earnings period, with a Q1 earnings beat and constructive earnings call commentary sending the stock higher by 4%.  The management also guided Q2 revenue down “low single digits” against consensus estimate of down 3% relative to Q2 of last year.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

•  Nike (NKE) up 3.7%; Dick’s Sporting (DKS) up 0.8%, Deckers Outdoor (DECK) up 0.3% in sympathy

ALSO HIGHER –

• Lithium Americas (LAC) up 32.7% after Reuters report of U.S. Department of Energy taking stake in company
• AST SpaceMobile (ASTS) up 12% at $54.80 after BlueBird 6 update, FY26 outlook
• The GEO Group (GEO) up 4.0% after announcing ICE contract

LOWER –

• Lifeway Foods (LWAY)  down 7.2% after disclosing orderly refreshment of board of directors, pending litigation pertaining to Danone’s Stockholders’ Agreement to be stayed
• Alpha Cognition (ACOG) down 9.4% after equity offering
• Enanta Pharmaceuticals (ENTA) down 8.3% after equity offering
• AAR Corp. (AIR) down 5.0% after equity offering