Stocks making the biggest moves midday: Nike, Rent-A-Center, Carnival Cruise
In this article NCLH RCL LULU GNRC AMLX NKE NUE RCII CCL TWTR Follow your favorite stocks CREATE FREE ACCOUNT People walk near the entrance to Nike store, May 25, 2022 in Moscow, Russia. Konstantin Zavrazhin | Getty Images News | Getty Images Check out the companies making headlines in midday trading. Nike — Nike shares dropped 12% after the sneaker giant said Thursday its inventory was overstocked, up 44% in its latest quarter. As a result it will offer more discounts to clear out the excess merchandise. Other retailers were also dragged down, with Lululemon Athletica and Under Armour losing almost 6% and nearly 5% respectively. Rent-A-Center — Shares of Rent-A-Center slipped 20% after the company slashed its current-quarter earnings guidance, saying that economic conditions have weighed on consumer traffic and payment patterns. Carnival Cruise — Shares of Carnival Cruise plunged nearly 20% after the company forecast a loss for the fourth quarter, saying high fuel prices and inflatio...