Check out the companies making headlines after the bell : Nike — Shares reversed and dropped 5% after the athletic footwear retailer noted that its sales in China are slowing down. In its latest quarter, Nike beat Wall Street’s expectations . The company posted earnings of 77 cents per share on $12.43 billion of revenue, exceeding the 74 cents per share on revenue of $12.28 billion that analysts polled by LSEG had expected. FedEx , United Parcel Services — Shares gained nearly 13% after the shipping company beat quarterly earnings expectations. FedEx reported adjusted earnings of $3.86 per share, higher than the $3.45 per share analysts had expected, per LSEG. The company’s revenue fell short of estimates, however. FedEx also announced a $5 billion share buyback. Shares of UPS rose 4%. Lululemon Athletica — Shares of the athleisure company dropped 10%. Lululemon posted weak guidance and reported that growth in North America is slowing. Separately, the company posted a fiscal fourth-quarter earnings and revenue beat. Dutch Bros — Shares of the drive-through coffee chain slipped about 5%. Dutch Bros announced the launch of a secondary offering of its shares by certain stockholders associated with TSG Consumer Partners L.P. These selling stockholders anticipate offering 8 million shares, and Dutch Bros will not receive any proceeds from the sale. Reddit — The social media stock slipped 2%. Reddit made its debut on the New York Stock Exchange on Thursday, soaring 48% in its first day of trading. -CNBC’s Darla Mercado contributed reporting.
Source: www.cnbc.com