Post-Market Movers: FedEx, Nike, U.S. Steel, and More

Post-Session Stock Movements: FedEx (NYSE:FDX) rose by 10%. The company announced its decision to fully separate FedEx Freight through capital markets and create a new publicly traded company. Additionally, it reported that its second-quarter earnings were in line with consensus.

Nike (NYSE:NKE) increased by 9%. The company exceeded both top and bottom-line expectations, surpassing quarterly forecasts. Revenue was reported at $12.4 billion, which represents an 8% decrease on a reported basis and a 9% decrease on a constant currency basis compared to the previous year.

Foot Locker (NYSE:FL) stocks rose in sympathy with Nike.

U.S. Steel (X) fell by 5%. The company lowered its guidance for the fourth quarter. It predicts adjusted net earnings per share to be between $0.29 and $0.25, below the consensus of $0.24. Adjusted EBITDA for the fourth quarter of 2024 is expected to be approximately $150 million, also below the consensus of $261.7 million.