Here are five things you must know for Wednesday, Sept. 27:
Gross margins fell 180 basis points in the first quarter due, in part, to "a higher mix of off-price sales," Nike said.
The tie-up, which will give Siemens just a shade more than 50% control of the combined group, still needs regulatory and shareholder approval, but nonetheless represents a major breakthrough in Franco-German industrial relations just as the two countries are attempting to form a cohesive position on European political leadership.
The renamed Siemens Alstom will be listed in Paris, the companies said, although Siemens Mobility, a division of the German company, will remain in Berlin. Alstom CEO Henri Poupart-Lafarge will lead the combined group, which is expected to have around €15 billion ($18 billion) in annual sales and €1.2 billion in earnings and will be better positioned to compete with industry leader CRRC Corp. of China, while Siemens will be given the right to name the new chairman.
5. -- Shares of Micron Technology Inc. (MU - Get Report) rose 5.3% in premarket trading after the chipmaker reported better-than-expected fiscal fourth-quarter earnings and its outlook for the fiscal first quarter topped expectations.
Micron estimated first-quarter revenue of $6.1 billion to $6.5 billion, higher than expectations of $6 billion. The company said earnings should come in at $2.09 and $2.23 a share, above forecasts of $1.82.Micron Beat on Earnings - Volatility is Muted - Here's the Trade
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