Nike's Q3 Earnings and Inventory Performance Impact Stock Prices
Nike reported Q3 revenue of $12.39 billion, beating expectations, while earnings fell less than expected. Nike stock rose 3.6% in after-hours trading. Swiss peer ONON also saw a surge in stock price after reporting strong earnings and guidance, with Q4 sales nearly doubling YoY and predicting 61% sales growth in the current quarter. Other shoe stocks, including Foot Locker, Skechers, Deckers Outdoor, and Crocs, also saw gains. The Dow index rose on hopes of easing banking crisis.