Nike Inc (NYSE:NKE) stock fell nearly 11% in extended trading Thursday after the footwear retailer said it expects weak second-half revenue following its fiscal second-quarter results.
The company expects full-year revenue to improve about 1% year over year, compared to a previous estimate of mid-single-digit growth. For the third quarter, revenue is expected to fall from the prior-year quarter.
Honda Motor (NYSE:HMC) US division has announced a recall of roughly 4.5 million vehicles globally due to concerns of possible fuel pump failure.
The recall affects 2.54 million vehicles in the US and follows similar recalls of 136,000 US vehicles in 2020 and another 628,000 in 2021 due to the same issue.
Specifically, this recall affects 2018-2020 Accord, Civic, CR-V, HR-V, Insight, Ridgeline, Odyssey, Passport and some Acura models.
Morgan Stanley (NYSE:MS) CEO James Gorman expects to have a hand in finding The Walt Disney Company's (NYSE:DIS) successor to CEO Bob Iger.
Gorman, who plans to step down from Morgan Stanley (NYSE:MS) on January 1 and was tapped last month to join Disney’s board of directors in February, told CNBC Thursday that he is set to join a succession planning committee that will advise the board on choosing Iger’s replacement.