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Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Isabelle Lee. On a positive morning for the broader market, but not so for the latest companies to report earnings, including Nike. A big swush to the downside is a bel good morning.
Definitely a big swush, down by almost ten percent in pre market trading. So the company said it expects revenue for the fourth quarter to be down some two to four percent and it will be lower in the low digits for the rest of the calendar year. So this
is actually very surprisingly gloomy. It's an outlook that I think surprised a lot of analysts because Nike has been trying to regain market dominance after a sales slump, but now it's facing a lot of challenges, and of course it's really hard to ignore the in the Middle East, and they did say that, they said the company is seeing a lot of inventories in Europe and the Middle East, and of course you have the traffic disruption from the war, so that could lead to more volatility in the business.
So even if we saw really strong results in North America, of course we know that it was the holidays a lot of people shop. Those challenges in the Middle East as well as the weakness, the continued weakness in China really overshadowed the strong results we saw in North American region and through to this Clothes the stock has dropped some seventeen percent this year. The ten around plan really is taking longer than originally planned, especially under the CEO Elliott Hills.
Yeah, longer than a lot of investors were really hoping for. With Elliott Hill returning to the helmet Nike and even bigger decline this morning for our Ah the furniture maker.
I know we're really getting gloomy. Here are a run almost twenty percent. This is a home furnishing company. The revenue forecast for the first quarter missed the average estimates are saying that the forecast is pressured by execution and again supply chain disruptions. It's giving us flashback to the COVID days. Bloomberg Intelligence analysts Lindsay Dutch saying that the outlook for our Age is for a two to four percent decline in the first quarter for revenue, and that's
after following a fourth quarter miss. So this point is really just a sharp job in demand that could extend beyond the first quarter. And we saw actually a couple of price cuts from Stifo and Barclays. It's not looking good for our Age and it looks to be It looks to point to an open and the reds for our Age. Well.
Of course, on a mostly positive morning, we got to talk about some stocks in the green. One of those includes the Walt Disney Company.
Of all companies, isn't well.
We have to end it on a positive note, be trying to be positive. Walt Disney tick our Ds. The stock is up some one and a half percent in pre market rate. We have Raymond Jims upgrading the stock to outperform from market perform. They really just cited an attractive entry point for the stock. So the analyst there said that the current macro backdrop and international visitation headwinds are the reasons for this. It's an opportunity to opportunity
to invest at an attractive valuation. So they set the price target to one hundred and fifteen dollars per share. In related news, Disneyland Paris unbuilt an expansion dedicated to the world of Frozen. So this is no princess that a lot of kids love. This is a key part of really a billion dollar effort to boost visits at the Team Park, which is really facing intense competition in Europe. And so Na said, how many steam parks do you think Disney has?
Oh, you're going to.
Put me on a trivia course to agree. I'm going to go with ten.
Okay, there are six independent operated Disney Resorts locations, but twelve individual steam parks. Wow, friend lead missions to try to go to all the parks in.
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