Check out the companies making headlines before Bell: Lululemon – Sharing fell over 12% shortly after President Donald Trump’s new and widespread tariffs. According to an application from the US Securities and Exchange Commission, the company raised 40% of its products from Vietnam in 2024. This is a country that was criticised for a 46% tariff. Almost 90% of Lululemon’s products are made in Vietnam, Cambodia, Sri Lanka, Indonesia and Bangladesh. Nike – Shares fell about 9% after Wednesday’s tariff announcement. Nike manufactures half of footwear in China and Vietnam, with tariff rates of 54% and 46%, respectively. Discount Retailers – Dollar Tree and 5 or less fell over 10% and 15% respectively. Dollar Tree CEO Michael Creedon previously said the company may raise prices on items to offset the impact of the new US tariffs. Both companies are big sellers of imported goods. Ford – Automakers skated 2.3%. Reuters reported that in a program called “America for America,” Ford will absorb tariff costs by providing employee pricing to all customers on multiple models. Big Tech – Stocks in Megacap technology companies such as NVIDIA have fallen as investors worry about companies putting pressure on them from President Trump’s new tariff regime. Nvidia, like Tesla, has dropped by more than 5%. Amazon.com shares have slid over 6%. Apple has dropped by more than 7%. Microsoft – Tech stocks fell 2.3%. Bloomberg has released another report showing that Xbox and Windows Company is expanding its data center projects in the US and overseas. Jpmorgan, Citi, Goldman Sachs, Morgan Stanley – Bank stocks retreated sharply early Thursday as investors slammed the economic fallout of Trump’s tariff policy. JPMorgan Chase’s shares fell 3.8%, while Citi, Goldman Sachs and Morgan Stanley all slipped over 4%. RH – Luxury residential furniture plunged 28% after posting fiscal fourth quarter revenue and first quarter guidance, which was weaker than Wall Street estimated. RH won $1.58 per share in the fourth quarter, excluding one-off items, with revenue of $812 million, while analysts voted by LSEG won the pencil with $1.92 per share and revenue of $830 million. CEO Gary Friedman confirmed to analysts that the company is operating in the “worst housing market in almost 50 years.” Deckers Outdoor – The shoe company that makes UGG boots sold more than 12% after the Trump administration’s mutual tariffs were rolled out. Deckers has 68 supply chain partners in Vietnam and 125 suppliers in China. WAYFAIR – Furniture retailers have weakened about 12% behind US high tariffs on goods from Cambodia, Vietnam, Thailand and the Philippines. CEO Niraj Shah said in a revenue call in February that the country has “grown” as “where people have factories and where products come from.” -CNBC’s Alex Hurling, Jesse Pound, Sarah Minh and Sean Conlon contributed the report.
NKE, AAPL, F, deck, etc.
