Online Forex broker
2021-03-22 • Updated
Yesterday, Nike reported better-than-expected earnings: a profit of 90 cents a share vs the projected 76 cents. However, the sales came out much worse than anticipated. Sales were $10.4 billion, which is below analysts’ estimates of $11 billion. In Europe, revenues dropped as many stores remain closed due to the Covid-19 pandemic.
Besides, there are some serious problems with the supply chain. A huge part of Nike’s sneakers just weren’t delivered to North America, its biggest market. As a result, in North America, revenue dropped 10% year over year. For comparison, in China, where the virus has been taken under control a long time ago, sales rose by 51%!
By the way, while Covid-19 was devastating for street shops, online shopping has hugely improved. E-commerce has helped Nike to increase online orders, which sales climbed 59% last quarter.
The whole effect was negative, so Nike can continue dipping today. It may reach the 50-day moving average of $140.00, which it will struggle to cross on the first try. If it crosses it, the way to the low of March 9 at $135.00 will be open. We shouldn’t forget that after the fall always goes the rise. So, when the price bounces off the dips and crosses the resistance zone of $145.00-147.00, the way up to the key psychological mark of $150.00 will be open. The good news for FBS traders is that they can make both buy and sell trades.
Besides, you can trade stocks in our app FBS Trader!
Don't know how to trade stocks? Here are some simple steps.
Why? Despite the fact that analysts and experts have been predicting the US stock market crash during pash year S&P500 doubled since March 2020 crush and NASDAQ is also gaining permanently…
About PayPal PayPal is an electronic commerce company that facilitates payments between parties through online transfers…
Where is it used? Aluminum is used in the metallurgical industry in the production of many metals…
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
