Tiffany, Nike, Avon Products & more

Tiffany, Nike, Avon Products & more

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Pedestrians walk past the entrance to a Tiffany & Co. jewelry store in the central business district of Kuala Lumpur, Malaysia.

Sanjit Das | Bloomberg | Getty Photographs

Pedestrians stroll previous the doorway to a Tiffany & Co. jewellery retailer within the central enterprise district of Kuala Lumpur, Malaysia.

Take a look at the businesses making headlines noon Friday:

Tiffany — Shares of Tiffany rose Three.41 % after the jewellery retailer reported mixed fourth-quarter results. The retailer reported earnings of $1.67, 7 cents greater than anticipated, and revenues of $1.321 billion, lacking estimates by $11 million. Tiffany additionally reported a 1 % drop in worldwide gross sales, whereas Refinitiv had estimated zero.eight % enhance.

Citigroup, Bank of America, J.P. Morgan Chase, Morgan Stanley and Goldman Sachs — Financial institution shares all fell no less than 2 % as worries over the worldwide financial system despatched Treasury yields decrease. The benchmark 10-year price fell under the Three-month yield, inflicting a yield-curve inversion, which regularly indicators a recession is on the horizon.

Nike — Shares of Nike declined 5.51 % after the sneaker maker reported weaker-than-expected gross sales in North America for its third-quarter. Nike also warned that its revenue growth could slow during its fourth-quarter. The corporate acknowledged it was partially damage by fewer Converse-branded merchandise.

Cintas — Shares of Cintas plunged 6.Three % after the corporate reported weaker-than-expected gross sales for the earlier quarter, whereas its full-year income outlook additionally upset buyers.

Nokia — Shares of Nokia fell 5.19 % after the community tools maker revealed it’s investigating transactions at Alcatel-Lucent, the rival it acquired in 2016, and that it alerted U.S. authorities to those potential compliance points.

Avon Products — Shares of the wonder firm rose practically 6.5 % following a Wall Street Journal report that Avon is exploring a sale to Brazilian rival Natura. The corporate reportedly would purchase each the publicly traded Avon that operates worldwide and the non-public North American enterprise.

Papa John’s International — The pizza maker’s inventory rose greater than Three % after saying former basketball star Shaquille O’Neal joined its board of directors. The corporate additionally introduced O’Neal is investing in 9 Papa John’s eating places in Atlanta.

Boeing — Boeing shares dropped greater than 2 % after an Indonesian airline canceled a $6 billion order for 49 of the corporate’s 737 Max jets.

—CNBC’s Jessica Bursztynsky and Nadine El-Bawab contributed to this report.


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