Nike Slides on Job Cuts; Broadcom Gathers AI Chip Funding | Stock Movers
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On this episode of Stock Movers: - Nike (NKE) shares continue their slide as it is cutting jobs and overhauling its business as results deteriorate, with a restructuring plan to save $2.5 billion over the next five years. The company expects a high-single-digit revenue decline this year, which is worse than the 2.4% drop projected by analysts, and shares of Nike fell as much as 9.7% in New York on Friday. - Broadcom (AVGO) shares are moving on news the company's Wall Street syndicate are starting to gather $60 billion of fresh AI chip financing to benefit Anthropic and other companies. - Fair Isaac Corp. (FICO) shares are rising after the company launched the FICO Mortgage Direct License Program, and Bill Pulte signaled he wasn't purposefully targeting the company, which may have contributed to the stock's rise on Thursday. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET Saturday & Sunday 7am-10am ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X: https://twitt
Tags: AI, Athleisure, Broadcom Inc., Fair Isaac Corp, John Tucker, NIKE INC, Paul Sweeney, Shoes, Stock Movers, Tom Keene, apparel, chips, consumer, credit score, investment, shopping, stocks, trading
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