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Nike shares surged 6% as the athletic apparel company announced the retirement of CEO John Donahue, with company veteran Elliott Hill stepping in to take over. FedEx saw a decrease of over 13% in shares after reporting a decline in profits and lowering its full-year guidance. Lennar’s stock slipped 3% despite surpassing analysts’ expectations for its fiscal third quarter. Trump Media & Technology Group shares traded nearly 5% lower as selling restrictions on former President Donald Trump and other early investors expired. Constellation Energy’s shares rose more than 7% after the announcement that the Three Mile Island nuclear plant would be restarted to supply power to Microsoft for its data centers. MillerKnoll’s stock dropped over 5% following a fiscal first-quarter earnings miss and weak guidance for the current quarter. Automobile Stocks were trading lower after Mercedes revised its annual forecasts due to worsening economic conditions in China. PepsiCo shares fell 1% after a downgrade at Morgan Stanley, citing concerns about organic sales growth and market share losses. ASML shares slipped 2% following a downgrade from Morgan Stanley on concerns about a potential slowdown in expectations. Centessa Pharmaceuticals saw a more than 5% increase after being upgraded to overweight by Morgan Stanley. Aptiv’s shares rose over 1% after an upgrade to overweight by Wells Fargo. Valero Energy’s shares fell 1.2% after being downgraded to neutral from overweight by Piper Sandler. Chewy’s stock dropped nearly 3% after announcing a public offering of $500 million of its Class A stock and repurchasing $300 million in shares. Chewy plans to cancel and retire the repurchased shares following the transaction.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.