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Taiwan's Economy Minister Kuo Jyh-huei announced that the government will assist companies in relocating production from China. This move comes in response to the anticipated impact of tariffs that incoming U.S. President Donald Trump is expected to impose on China.
U.S. markets experienced declines ahead of the presidential election, with the Dow Jones down 0.61% and the S&P 500 dipping 0.28%. Despite this volatility, historical trends suggest stocks typically rise post-election, although short-term fluctuations may occur. Consumer confidence in equities has reached an all-time high, reflecting optimism amid uncertainty.
Nike, Inc. focuses on designing, manufacturing, and marketing sports shoes, apparel, and equipment, with net sales primarily from footwear (68.6%), apparel (27%), and sports equipment (4.1%). As of May 2024, the company operates 1,045 stores globally and generates sales mainly from North America (41.6%) and Europe/Middle East/Africa (26.5%).
On Holding's U.S.-listed shares rose approximately 1% to $47.13 after UBS Global Research increased its price target from $55 to $61, citing strong sales momentum. The brokerage highlighted high-double-digit growth in U.S. direct-to-consumer sales in Q3 and noted that brands like Hoka and On are gaining market share from giants like Nike. Currently, 19 of 23 brokerages rate On Holding's stock as "buy" or "higher," with a median price target of $51, and the stock has surged nearly 75% year-to-date.
Elliott Hill, the new CEO of Nike Inc., is initiating a management reshuffle, focusing on the legal, sports marketing, and supply chain teams. Since taking over on October 14, Hill aims to address the company's challenges, as shares have declined nearly 30% this year.
Throughout 2024, the stock market has shown a strong uptrend, with the S&P 500 rising 22.1% year-to-date and reaching an all-time closing high of 5,860s on October 18. Despite some fluctuations, the index has consistently remained above its 50-day simple moving average, indicating robust market momentum. The Nasdaq has outperformed with a 23.7% gain, while the DJIA lags at 12.5%, impacted by underperforming stocks like Boeing, Intel, and Nike.
The healthcare gamification market is poised for growth, driven by increased adoption and technological advancements, though challenges in sustaining long-term user engagement may hinder progress. Key players include Cognifit, Fitbit, and Nike, with regional dynamics influencing market potential. The report highlights current trends, growth opportunities, and industry barriers, providing a comprehensive view of the market landscape.
Stock futures fell as the Dow Jones Industrial Average ended a three-day winning streak, closing down over 344 points. General Motors raised its 2024 earnings guidance after surpassing estimates, while Disney announced James Gorman as its new chairman and delayed the CEO succession plan to early 2026. Donald Trump's tax proposals could exempt income taxes for 93.2 million Americans but may jeopardize Social Security's funding, while Nike secured a renewed, larger contract as the exclusive uniform provider for the NBA and WNBA for another 12 years.
Stock futures are lower as Wall Street anticipates further losses. AppLovin received a buy rating from Loop Capital, with a price target of $181, indicating a potential 13.9% upside. Meanwhile, Jefferies raised Tesla's price target to $195, despite a projected 10.9% decline, as the focus shifts back to operational concerns. In Asia-Pacific, Hyundai Motor India's shares fell 4.42% on their trading debut after a record IPO. European markets showed mixed results, with the Stoxx 600 index down slightly.
Nike has renewed its exclusive uniform partnership with the NBA and WNBA for another 12 years, extending their collaboration until 2037. The deal, characterized as "much bigger" than the previous $1 billion contract, includes responsibilities for designing and manufacturing uniforms and fan merchandise. Despite recent challenges in maintaining market share and criticism over other sports partnerships, the NBA expressed full confidence in Nike's commitment to basketball.
NIKE, Inc.
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Taiwan to assist companies relocating production from China amid US tariffs
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