Stocks moving after hours: Nike, GameStop
Yahoo Finance Live’s Seana Smith breaks down market movers in after-hours trading.
SEANA SMITH: Let's take a look at what is trending after hours. Two stocks here for you. GameStop and Nike both have to do with earnings. Let's get right to it.
Look at GameStop there, up over 30% in after-hours trading. The company reporting its first profit that we have seen in just about two years. They also beat on revenue. Certainly the street encouraged by this. And I want to remind you, GameStop very, very few analysts cover it given the recent trading activity, given the fact that is associated with a mean stop, and really simply the fact that it's been trading totally unhinged from the fundamentals of this play.
But intraday close up just around 4.5% ahead of these results. Year to date taking a look at that performance. Off just about 4% over the last year. And take a look at that volatility. Really speaks to the fact as to why So many few analysts cover this. But over the past year off just about 25%.
All right, moving on to Nike. The shares initially were gaining. After hours now we are in the red, off just by about 7/10 of a percent. Digging into these results, they actually beat on both the top and bottom line. Progress on inventory was one of the highlights. Nike there saying that it was tremendous progress on inventory. It was up 16% on a year over year basis. A huge improvement from that 43% jump that Nike reported the previous quarter.
It wasn't all good news here for Nike. They did miss on their China revenue segment there. That came in slightly below what the street was looking for. Also its full year gross margin was at the low end. Forecast there was at the low end of its prior forecast. Over the last year you're looking at Nike shares off just about 3.5%. Year to date that stock up just over 7%, Dave.
- A pretty good report considering the numbers from China and a lot of upside if they can get that turned around moving forward, right? All right, thank you, Seana.