The Latest Breaking News from Simeon Siegel

The Dow component has been a weak performer in 2024.

Footwear and apparel company Nike Inc. (NYSE: NKE) beat Street estimates for revenue and earnings per share in the first quarter, but saw shares fall sharply Thursday after market close. Investors and analysts now have some major concerns after the latest report.

Nike Inc (NYSE: NKE) shares gained 4.3% on Tuesday after the company reported a fiscal third-quarter earnings beat, driven by strong North American demand in an uncertain international market.

Morgan Stanley analyst Kimberly Greenberger noted Gap Inc's (NYSE:GPS) adjusted EPS loss per share of $(0.02) in Q4 beat expectations. But she finds it "difficult to avoid the conclusion that losing money in what should be one of the most profitable quarters every year suggests fundamentals and execution were gravely challenged." Greenberger thinks…

Analysts lowered their price targets on Weber Inc (NYSE:WEBR) following its Q1 results. JPMorgan analyst Megan Alexander downgraded Weber to Neutral from Overweight with a price target of $9.50, down from $13, implying an 8% downside. The analyst sees high sales uncertainty ahead with risk in the second half of 2022 on price elasticity and do-it-yourself…

BMO Capital analyst Simeon Siegel upgraded Under Armour Inc (NYSE:UAA) to Outperform from Market Perform with a price target of $25, up from $23, implying a 32.56% upside. Simeon believes the recent selloff discounts Under Armour's pandemic transformation by re-focusing on profits over growth for growth's sake. With recent industry updates and "increasingly challenging compares"…