BioMarin Rises, FedEx Drops and Nike Sinks on Sales Warning
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BioMarin Rises, FedEx Drops and Nike Sinks on Sales Warning
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On this episode of Stock Movers:
- BioMarin (BMRN) shares rise after the company agreed to buy Amicus Therapeutics Inc. for about $4.8 billion, helping the biotech company expand its portfolio of treatments for rare diseases.
- FedEx (FDX) shares fall the most intraday since June 25, as the shipping firm upgraded FY targets, but to a lower magnitude than the 2Q earnings beat as it suffers from a string of cost headwinds including the grounding of its MD-11 planes.
- Nike (NKE) shares sink after the company warned that sales will decline this quarter amid persistent weakness in China and at its Converse brand. The world’s largest sportswear company expects revenue to be down in the low-single digits in the three months that started Dec. 1, a surprising turn after two straight periods of growth.
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