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Today's Hottest Trades: Nike, Lululemon, and FedEx

Companies that posted quarterly results last week offer traders the best upside today. Their outlook gives readers the data needed to make investment decisions.

Sports clothing supplier Nike (NKE) posted weak revenue growth in its third quarter. Fortunately, the firm has a new multi-year innovation cycle. It will emphasize newness. It still has a brand distinction that resonates with consumers. Unfortunately, this would result in a low single-digit revenue decline in the first half of this year.
Next fiscal year, revenue and earnings will grow, thanks to expanding operating margins.

Yoga clothing maker Lululemon (LULU) shocked markets with a weak earnings report. Shifts in consumer behavior in the U.S. market hurt results. The smaller markets including Canada and the international market offset that weakness. The firm managed to grow revenue in the men’s business by 15% in Q4. In addition, Mainland China's growth topped an impressive 78%.

In 2024, the firm expects revenue to grow by 11% to 12% Y/Y. It will open 35-40 new stores while optimizing nearly 40 stores.

In the delivery market, FedEx (FDX) could add to last week’s 7.35% gains. The firm is committed to the DRIVE initiative. This would result in margin expansion. In addition, it will address the challenges in the European market.