The other big name reporting on Thursday is
(NKE - Get Report)
. The average estimate of analysts polled by
is for a profit of $1.37 a share in the sneaker maker's fiscal fourth quarter on revenue of $6.51 billion.
Nike shares peaked in early May at $114.81 and have since pulled back to close Wednesday at $98.11. Even with that slide though, the shares are still up 10% over the past year and 2% so far in 2012. The sell side is mostly bullish with 14 of the 22 analysts covering Nike at either strong buy (9) or buy (5) and the 12-month median price target at $123.
The company has a strong track record of beating Wall Street's consensus view, having done so in the past eight quarters. In March, when reporting its third-quarter results, Nike
forecast a decline in gross margin of around 100 basis points
because of the impact of inventory management efforts in Europe and China.
Also reporting on Thursday are
Family Dollar Stores
Smith & Wesson
The economic calendar includes some heavyweight numbers with weekly initial and continuing jobless claims at 8:30 a.m. ET and the third estimate of first-quarter gross domestic product also at 8:30 a.m. ET.
The consensus view is for initial claims to tick down to a still elevated 385,000 from 387,000 in the prior week, according to
. GDP is expected to remain at 1.9%.
And finally, shares of
were active in Wednesday's extended session after the Kent, Wash.-based maker of industrial waterjet machines used for cutting applications reported fiscal fourth-quarter earnings of $2.6 million, or 6 cents a share, on revenue of $63.4 million.
The average estimate of analysts polled by
was for a profit of 4 cents a share on revenue of $62.6 million in the April-ended quarter. The stock was last quoted at $3.40, up nearly 17%, on volume of more than 50,000, according to
The big loser in late trades was
as investors appear unimpressed with the
of a phase 2b/3 study of the company's proposed treatment for patients suffering from advanced non-small cell lung cancer.
The stock, which has gained more than 60% so far in 2012, was last quoted at $5.35, down 26%, on volume of more than 200,000, according to
Written by Michael Baron in New York.
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