Nike Sinks, FICO Rises, Seagate Technology Drops on Toshiba Report

On this episode of Stock Movers:

- Nike (NKE) shares slump. Nike Inc. is cutting jobs and overhauling the business as results deteriorate, with a restructuring plan expected to save $2.5 billion over the next five years. The company announced weaker-than-expected sales for the latest quarter and a disappointing outlook for this fiscal year, with a high-single-digit revenue decline expected.
 
- FICO (FICO) shares rise following a selloff earlier this week. This bounce comes following investor concerns over increased competition in the mortgage credit scoring sector.

- Seagate Technology (STX) shares drop on a report Toshiba is building supply. Seagate shares are in a trading range since June, with two failed breakouts. They are currently indicated to gap below 50-DMA, 100-DMA’s on the open.

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