Stocks fell Friday, losing earlier gains, as Wall Street closes out what has been the worst month of the year for equities.
These stocks were making moves Friday:
Nike
(ticker: NKE) stock rose 7% after the athletic apparel company reported fiscal first-quarter profit that beat analysts’ estimates.
Nike
said inventories fell 10% in the period. The company also reaffirmed its fiscal-year outlook and issued upbeat guidance for its second quarter. Shares of other athletic footwear and accessory companies rose.
Foot Locker
(FL) was up 1.7%,
Under Armour
(UAA) rose 3.7%, and
On Holding
(ONON) gained 5.8%.
Ford
(F) fell 1.6%,
General Motors
(GM) was down 1.2%, and
Stellantis
(STLA) declined 1.1% after the United Auto Workers union said it will expand its strike against General Motors and Ford, targeting one assembly plant at each company.
Stellantis
was spared from a strike expansion with UAW citing progress in negotiations.
Walgreens Boots Alliance
(WBA) rose 5.1%. Shares gained following a Bloomberg report that said the healthcare giant was considering former
Cigna
(CI) executive Tim Wentworth to be its next CEO. The report cited people familiar with the matter.
Blue Apron
(APRN) soared 134% to $12.83 after the meal-kit company agreed to be acquired by Wonder Group for $13 a share in cash in a deal with an equity value of approximately $103 million.
Carnival
(CCL), the cruise operator, turned in higher earnings and revenue than expected in the fiscal third quarter but forecast a wider loss than anticipated for the final three months of its fiscal year. Shares dropped 7.7%.
Brinker International
(EAT) rose 3.1% after the owner of Chili’s was upgraded to Buy from Hold at
Stifel.
Ball
(BALL) jumped 3.8% after the aluminum-can maker was upgraded to Buy from Hold at Jefferies.
Bumble
(BMBL) gained 2.5% after the dating app company was upgraded to Buy from Hold at Loop Capital.
Tesla
(TSLA) was rising 0.2%. The electric-vehicle maker was sued Thursday by the Equal Employment Opportunity Commission, which alleged
Tesla
subjected Black employees at its Fremont, Calif., plant, to racial harassment and a hostile work environment. Meanwhile, Tesla is expected to report third-quarter deliveries on Monday and analysts at Citi trimmed their Tesla quarterly sales estimate to 450,000 vehicles, down from a previous expectation of 468,500.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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