Stock Movers Nike Slumps, Intel Jumps, Eli Lilly Climbs
Apr 1, 2026
Nora Melinda, Bloomberg Television markets correspondent who delivers company-level stock coverage. She breaks down Nike’s sharp sell-off and outlook warning. She explains Intel’s big buyback move in Ireland and why traders cheered. She covers Eli Lilly’s FDA win for an obesity drug and the ripple effects for rivals.
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Nike Forecast Sparks Deep Share Drop
- Nike warned revenue could drop up to 4% for the quarter and expects sales declines to persist, driving the stock to its lowest since Oct 2014.
- Weakness in greater China and collapsing Converse sales are key drivers behind the roughly 30% YTD stock decline referenced by Nora Melinda.
Potential Suitor Emerges For Converse
- Reports surfaced that Authentic Brands Group has expressed interest in buying Converse if Nike offers it for sale, though Nike hasn't engaged discussions.
- The interest is longstanding but no official overture or talks have been confirmed, per Nora Melinda.
Subway Sneakers Illustrate Intense Competition
- Tim Stenovec shared a subway observation that nearly everyone wears different sneakers, highlighting a crowded footwear market.
- The anecdote was used to underscore competition Nike faces from many brands including Allbirds and Converse.