Stocks fell over 8% after parcel delivery companies cut their year-round guidance and cited “weakness” in the US industrial economy: FedEx: FedEx – Stocks fell over 8%. FedEx currently expects earnings per share to fall from previously set ranges from $19 to $20 per share, following a certain exclusion. United Parcel Service shared 1.5% slides in sympathy. Cleveland-Cliffs – Steel Producer lost 2% after Minnesota Star Tribune reported that Cleveland-Cliffs temporarily idle two factories, bringing hundreds of jobs. The decision comes as the automaker reduced the order amid uncertainty linked to President Donald Trump’s tariff policy. Nike – The athletic apparel maker has dropped almost 7% after warning that sales would fall in the current quarter. That entry overshadowed quarterly reports more than expected, with Nike surpassing analyst consensus forecasts on both lines. The foot locker was slid by more than 4%. Micron Technology – Despite breaking Wall Street’s expectations for second-quarter revenue and providing strong guidance, semiconductor stock has slided almost 4%. Micron scored $1.56 per share, adjusted with revenue of $8.05 billion, but analysts handed him the pencil with just $1.42 per share and earnings of $7.89 billion. US Steel – Steelmakers slipped 1% in the heels of weak instruction in the first quarter. US Steel said it expects a loss of 49 cents to 53 cents per share, but said Analyst voted on fact sets and estimated a 32 cents per share decline. LENNAR – Home builders reduced their second quarter 22,500-23,500 new orders by nearly 4% after falling below a single consensus estimate, below the 23,802 consensus estimate. However, first quarter revenue and revenue beat expectations. DANAHER – Conglomerate added 2% following an upgrade to Goldman Sachs to buy from Neutral. Goldman said after a rough patch, the stock could rise the following year. Adaptive Biotechnology – Biotech stock has almost 4% popped behind Goldman Sachs upgrades to buy from Neutral. Goldman said Adaptive is in a strong end market and its position is improving within it. – Reported by CNBC’s Michelle Fox.
Ren, CLF, FDX, NKE, etc.
