5 Stocks Under Investors’ Radar After Releasing their Earnings Reports

1. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 67

NIKE, Inc. (NYSE:NKE) recently announced a better-than-expected profit for its fiscal first quarter, but its revenue fell short of expectations. As a result, NIKE shares fell more than 6 percent on Friday, 24 September 2021.

The athletic shoes and clothing retailer reported earnings of $1.16 per share for the three months ended 31 August 2021, up from 95 cents per share in the same period last year. Analysts were expecting NIKE, Inc. (NYSE:NKE) to post earnings of $1.12 per share.

Revenue came in at $12.2 billion, up 16 percent from $10.6 billion in the comparable period of 2020. However, it was marginally down from the consensus forecast of $12.5 billion. NIKE, Inc. (NYSE:NKE) said that direct sales in the quarter rose 28 percent, while digital sales jumped 29 percent.

Commenting on the quarter, CFO Matt Friend said:

“NIKE is a growth company with a market opportunity as large as it’s ever been. Our Q1 results illustrate how NIKE’s Consumer Direct Acceleration strategy continues to fuel growth and transform our long-term financial model.”

You can also take a peek at 15 Best Short Squeeze Stocks To Buy Now and Top 10 Stocks to Buy According to Charles Pollnow’s Triple Frond Partners.

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