Shares of Nike Inc (NYSE:NKE, XETRA:NKE) tumbled more than 15% on Wednesday after a weaker-than-expected earnings outlook analysts across Wall Street warning that a turnaround may take longer than anticipated.
Bank of America cut its rating on Nike to “Neutral” from “Buy,” saying the company’s recovery timeline has been pushed out as management now expects sales to remain negative through the third quarter of fiscal 2027. The brokerage also reduced its price target to $55 from $73 and lowered its earnings estimates for fiscal 2027 and 2028.
Eli Lilly and Co (NYSE:LLY) announced that the U.S. Food and Drug Administration (FDA) has approved Foundayo (orforglipron) for adults with obesity or those who are overweight with weight-related medical conditions, sending its shares more than 5% higher on Wednesday afternoon.
The approval marks Lilly’s second FDA-approved medication for obesity.
Beyond Meat Inc (NASDAQ:BYND) shares fell 13% on Wednesday after the plant-based meat company’s fourth quarter earnings fell short of expectations.
The company posted a net loss per share of $0.29, wider than analysts’ expectation of $0.14.
RH (NYSE:RH), the high-end home furnishings retailer, reported weaker-than-expected results for the fourth quarter of fiscal 2025, sending its shares down almost 23% in early trading.
The company posted adjusted earnings per share of $1.53, below analysts’ consensus of roughly $2.21, while revenue came in at $842.6 million, missing the expected $873.5 million. Despite the miss, revenue still grew 3.7% year over year.
Nike Inc (NYSE:NKE, XETRA:NKE) shares fell more than 14% on Wednesday as the athletic apparel and footwear maker reported unchanged quarterly revenue from a year ago and signalled caution for the months ahead.
Nike’s guidance for the fourth quarter points to revenue declining by 2% to 4%, while Wall Street analysts had been expecting 2% growth.
New Era Energy & Digital (NASDAQ:NUAI) announced that it has signed a non-binding letter of intent to form a joint venture aimed at developing and financing its Texas Critical Data Centers (TCDC) campus in West Texas.
The proposed partnership would bring together New Era, data center developer Stream Data Centers, and an unnamed institutional investor that would provide equity capital and help arrange project financing.
Tiziana Life Sciences Ltd (NASDAQ:TLSA) unveiled new preclinical data suggesting that its investigational therapy, intranasal foralumab, may offer a novel approach to addressing neuroinflammation associated with aging.
The company highlighted that neuro inflammation is widely recognized as a contributing factor to cognitive decline in age-related neurological conditions.
Bit Digital Inc (NASDAQ:BTBT) advanced its strategic shift toward Ethereum-focused treasury operations and artificial intelligence infrastructure in 2025, posting revenue growth and expanding its digital asset holdings.
According to its latest financials for the year ended December 2025, the company said total revenue for 2025 reached $113.6 million, representing a 5% increase from $108 million in 2024.
Digi Power X Inc (NASDAQ:DGXX, FRA:1NQ0, NEO:DGX) reported a year of significant balance sheet growth and a strategic pivot from cryptocurrency mining toward artificial intelligence (AI) infrastructure for the fiscal year ended December 31, 2025.
The company said cash and cash equivalents rose to $78.5 million from $1.7 million in the prior year. Total assets increased to $134.1 million, compared with $34.3 million in 2024, while shareholders’ equity grew to $123.3 million from $22.3 million. The company reported no outstanding debt at year-end.
Shares in Metals One PLC (AIM:MET1, FRA:HT7, OTCQB:MTOPF) rose 7% to 1.87p after the company announced a £1.5 million fundraise and an option to lift its stake in South African gold vehicle Lions Bay Resources to 49.9%, as it presses ahead with its strategy to build a vertically integrated gold business in the country.
The option allows Metals One to convert $5 million of its existing C$10 million secured loan facility into an additional 19.9% of Lions Bay Resources (LBR), taking its holding from 30% to just under 50%.
The AIM-listed rare earths company upsized its placing after strong demand, though shares fell back on dilution concerns.
Shares in Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, OTC:MKNGF), the rare earths developer, fell 13% to 33.6p on Wednesday despite the company completing a fundraise that was significantly oversubscribed and upsized from its original £10 million target to £12.5 million.
Shares in Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, FRA:G8G, ASX:GGP), the gold and copper miner, are up a further 13% to 665.2 in London trading on Wednesday as investors continued to digest landmark resource update at its Telfer operation in Western Australia.
The gains have been amplified by a broader re-rating of precious metals stocks, with gold rising 1.8% as conciliatory rhetoric from Iran eases tensions in the Middle East.