Today we are watching…
1. Manchester United (#manu)
This famous English football club may not be performing on the pitch, but an earnings beat this morning could change the game off it. Manchester United are in the entertainment business and are tasked with reporting quarterly financials just like any other company. Shares in sports teams on the stock market double up as merchandise fans, which is just as well. They often give investors no control over corporate decisions, on-pitch results, rogue injuries, or ridiculous player transfer fees. However, depending on your sporting affiliations, this one might make both a lucrative and gratifying short! Analysts tip the Red Devils to make a loss of $0.12 per share this quarter on $167 million in revenue.
2. Nike (#nike)
The Nike brand reaches all four corners of the world, which comes with both benefits and burdens! The athletics retailer finds most of its manufacturing and a good portion of its sales in China, a country showing cracks as the trade war rages on. Today is one of Nike’s quarterly earnings releases, and analysts expect $0.71 of profit per share on $10.45 billion in revenue. It will be a real endurance test for the company, but mind you, the management team knows what it’s doing. CEO Mark Parker has ordered a top-to-bottom revamp of Nike’s most affordable shoes, just in case consumers become get stingy.