U.S. stock futures point lower to end the week; FedEx (FDX) shares are tumbling in premarket trading after the shipping company lowers its sales outlook; Nike (NKE) shares are dropping as the sneaker giant warns of weakening sales; Micron Technology (MU) shares are falling despite the tech firm's better-than-expected results; and global air traffic is disrupted as London's Heathrow Airpor🦩t shuts for the day after a nearby fire causes a power outage. Here's what investors need to know today.
1. US Stock Futures Point Lower to End Week
U.S. stock futures are pointing lower to end the week. 澳洲幸运5官方开奖结果体彩网:S&P 500 and 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average futures are 0.3% lower after the indexes posted 澳洲幸运5官方开奖结果体彩网:modest declines yesterday, though both are on pace to close higher for the week. Nasdaq futures are down 0.4% and the index is lower by a similar percentage for the week through Thursday as it looks to snap a four-week skid. Bitcoin (BTCUSD) is moving lower to trade at around $84,000, while yields on the 10-year Treasury note are slipping to just over 4.2%. Oil and gold futures are declinin🎶g.
2. FedEx Stock Di🅠ves on Disappointing Q3 Profit, Revenue Outlook
FedEx (FDX) shares are tumbling 8% in premarket trading after the shipping giant reported 澳洲幸运5官方开奖结果体彩网:quarterly p🍸rofit that misse🌺d expectations while also lowering its full-year outlook. The company said it expects full-year revenue to come in slightly lower to flat year-over-year, worse than its prior forecast of "approximately flat." FedEx also lowered its profit outlook for a third straight quarter. For its fiscal third quarter, FedEx's adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $4.51 came up short of Visible Alpha estimates, although its revenue of $22.2 billion topped them.
3. Nike Stock Drops on Sales Warning
Nike (NKE) shares are sinking 6% in premarket trading after the sneaker giant warned that 澳洲幸运5官方开奖结果体彩网:sales could weaken under the company's 澳洲幸运5官方开奖结果体彩网:turnaround plan, with 澳洲幸运5官方开奖结果体彩网:new tariffs adding to uncertainty. Nike CFO Matt Friend told investors that its current-quarter sales are expected to drop by a percentage in the low end of the "mid-teens range," according to an earnings call transcript provided by AlphaSense, while Visible Alpha estimates were for a 12% decline. Nike shares have declined about 30% over t🤪he past 12 months.
4. Micron Te🧸chnology Stock Dips Despite Better-Than-Expected Results, Outlook
Micron Technology (MU) shares are 3.5% lower in premarket trading even though the tech firm 澳洲꧋幸运5官方开奖结果体彩网:reported better-than-expected꧅ results and issued optimistic guidance. The chipmaker's fiscal second-quarter adjusted EPS of $1.56 and revenue of $8.05 billion topped Visible Alpha consensus, as data center sales tripled year-over-year, driven by strong demand for 澳洲幸运5官方开奖结果体彩网:artificial intelligence. Micron's current-quarter adjusted EPS and revenue outlooks also were better than estimated.
5. London's Heathrow Airport Closes as Fire Causes Power Outage
London's Heathrow Airport, one of the world's busiest, 澳洲幸运5官方开奖结果体彩网:closed for the day Friday following a fire at a nearby substation that caused a power outage. The airport operator said that the hub would remain closed until 11:59 p.m. local time (07:59 p.m. ET) on Friday. The closure has caused widespread disruption, with more than 1,350 flights canceled today, according to FlightRadar24.