By Katy Barnato
FedEx $(FDX)$: The delivery company said it would spin off its freight-trucking division. Shares rallied 7.5% in premarket trading, even though FedEx reported lower quarterly profits and trimmed annual financial goals.
Nike $(NKE)$: The sportswear company reported its third consecutive quarterly sales decline, while profit fell. Executives warned that this quarter, revenue could decline by more than 10%, and could be even steeper next quarter. Shares fell 3.3% premarket.
U.S. Steel $(X)$: The company cut quarterly earnings guidance, citing weak European demand. Shares fell 4.5% premarket. In the background, the clock is ticking on a national-security review that could block U.S. Steel's purchase by Japan's Nippon Steel.
Occidental Petroleum $(OXY)$ and Sirius XM $(SIRI)$: Shares in both companies rallied premarket after filings with the Securities and Exchange Commission late Thursday indicated that Berkshire Hathaway had recently raised its stakes in them.
Carnival $(CCL)$: The cruise operator is due to report quarterly results ahead of the open (read why cruise lines are basking in holiday cheer).
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(END) Dow Jones Newswires
December 20, 2024 04:58 ET (09:58 GMT)
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