Ross Drops, Nike Falls, Seagate Rises After Upbeat Investor Event

On this episode of Stock Movers:
- Ross shares drop after second-quarter earnings per share forecast missed the average analyst estimate. The company also withdrew its full-year sales and earnings guidance, citing heightened macroeconomic and geopolitical uncertainty.
- Nike shares drop. Bloomberg Intelligence's tariff tracker shows Nike among the most affected companies. Just yesterday, shares were up after the company returned to Amazon.com’s online store following an absence since 2019. 50% of all Nike shoes and 28% of its apparel production in 2024 came from factories in Vietnam. China accounted for 16% the company’s apparel and Cambodia was responsible for making 15%
- Seagate shares rise after the computer hardware and storage company hosted an upbeat investor day event. It set targets for period through fiscal 2028, including 40% adjusted gross margin with further expansion opportunity. The company also plans to buy back up to $5 billion of shares.

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