Nike Falls on Earnings, Entertainment Stocks Drop | Stock Movers

By Bloomberg Podcasts

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Today's biggest winners and losers in the stock market, a look at the notable movers: On this episode of Stock Movers: - Nike (NKE) drops after a pessimistic sales outlook after reporting worse-than expected results due to weakness in China, sportswear and at the Jordan brand. The company now sees revenue declining in the high-single digits in the current fiscal year. - Walt Disney (DIS) shares fell plans to cut hundreds of jobs as part of a restructuring of its television operations, extending a wave of job cuts, the Wall Street Journal reported. The overhaul will consolidate divisions at the company, according to the Journal. -Paramount Skydance (PSKY) shares ended the day lower as the entertainment company issued $52 billion of debt to fund the biggest Hollywood buyout ever, investors were nursing more than $100 million of losses, triggering a flurry of angry calls from money managers to Wall Street banks that underwrote the debt. - Netflix (NFLX) shares fell after co-CEO Ted Sara

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