Nike shares are trading lower after the company reported mixed Q2 financial results and said it is identifying up to $2 billion in cost savings opportunities.
Portfolio Pulse from Benzinga Newsdesk
Nike reported mixed Q2 financial results, with shares trading lower. The company is exploring up to $2 billion in cost savings opportunities.
December 22, 2023 | 11:28 am
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Nike's Q2 financial results were mixed, leading to a decrease in share price. The company is looking for up to $2 billion in cost savings.
The mixed financial results suggest that Nike did not meet all investor expectations, which typically leads to a negative short-term reaction in the stock price. The announcement of identifying cost savings could be seen as a response to financial pressures, which may further concern investors in the short term.
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