Skechers shares are trading lower in sympathy with Nike, which fell after reporting Q4 earnings.
Portfolio Pulse from Benzinga Newsdesk
Skechers shares are trading lower in sympathy with Nike, which fell after reporting Q4 earnings.
June 27, 2024 | 8:20 pm
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NEGATIVE IMPACT
Nike's shares fell after the company reported its Q4 earnings, which has also impacted Skechers' stock.
Nike's Q4 earnings report led to a decline in its stock price, which in turn caused Skechers' shares to trade lower in sympathy. This indicates a strong market reaction to Nike's financial performance.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Skechers shares are trading lower in sympathy with Nike's stock decline following its Q4 earnings report.
Skechers' stock is affected by Nike's performance due to market sentiment and industry correlation. Investors are reacting to Nike's earnings, causing a ripple effect on Skechers.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80