This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Market Preview: Stocks Losing Luster

Last time around, Nike surprised Wall Street with a rare earnings miss with the weak economic outlook in Europe and slowing growth in China seen as factors so both the bottom-line number and the commentary around this release will be closely watched.

Bank of America Merrill Lynch reiterated its buy rating and $120 price target on Nike shares on Tuesday, saying it thinks the company is doing well overall in China.

"We continue to believe Nike footwear momentum remains very healthy in China, led by strength in basketball and lightweight running," the firm said. "Store checks indicate strong sell-thru of new product including the Nike Free Run +3 and Nike+ basketball. At retail, Nike's footwear inventory remains clean (primarily products that launched within the last 6 months) with no promotions. Store checks indicate a continued challenging sportswear env't in China as local brands (Li Ning & Anta) remain very promotional and there has been a fashion shift favoring 'casual' apparel (led by Uniqlo, H&M & Zara) over athletic sportswear."

Other companies slated to report on Thursday include Accenture (ACN), Actuant (ATU), Central European Distribution (CEDC), Discover Financial Services (DFS), Global Payments (GPN), Greenbrier Cos. (GBX), IDT Corp. (IDT), McCormick & Co. (MCK), Micron Technology (MU), and Sealy Corp. (ZZ).

Thursday's economic calendar includes weekly initial and continuing jobless claims at 8:30 a.m. ET; durable goods orders for August at 8:30 a.m. ET; the third estimate of second-quarter gross domestic product at 8:30 a.m. ET; and pending home sales for August at 10 a.m. ET.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.94 -0.35%
GOOG $689.40 0.77%
NKE $56.26 -2.00%
FB $104.15 3.10%
TSLA $152.30 6.00%


Chart of I:DJI
DOW 15,781.23 +121.05 0.77%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs