Check out the companies making headlines in extended trading: Nike — Shares soared 10%. The sneaker company announced that CEO John Donahoe would step down from the role on Oct. 13. Nike veteran Elliott Hill, who had been at the company for 32 years before retiring in 2020, will take the helm. FedEx — Shares of the shipping company pulled back 10%. FedEx trimmed the higher end of its full-year earnings outlook and cut its revenue guidance. Fiscal first-quarter results missed the mark as well. FedEx reported adjusted earnings per share of $3.60 on revenue of $21.58 billion, while analysts polled by LSEG were looking for $4.76 per share in earnings and $21.93 billion of revenue. MillerKnoll — The office furniture company slipped more than 2% after missing analysts’ estimates on the top and bottom lines in the fiscal first quarter. MillerKnoll reported adjusted earnings per share of 36 cents on revenue of $861.5 million. Analysts polled by FactSet forecast 40 cents per share on revenue of $889.4 million. The company also issued weak guidance for the current quarter. Lennar — The home construction company fell 3% despite surpassing Wall Street estimates in the fiscal third quarter. Lennar reported earnings of $4.26 per share on revenue of $9.42 billion. Analysts surveyed by LSEG expected earnings of $3.63 per share on $9.17 billion in revenue. Chewy — Shares of the pet products retailer slipped around 1%. Chewy announced a public offering of $500 million of its Class A stock by Buddy Chester Sub LLC, an entity affiliated with funds advised by BC Partners Advisors — Chewy’s largest shareholder. The retailer also agreed to buy $300 million in shares from Buddy Chester; Chewy said it will cancel and retire those repurchased shares when the transaction is complete.
Source: www.cnbc.com