NIKE Shares Jump 14% On Quarterly Results

Shares of NIKE Inc. (NKE) are gaining nearly 14% on Friday morning driven largely by the sports apparel and footwear retailer’s fourth-quarter results.

NKE is currently trading at $151.72, up $18.12 or 13.56%, on the NYSE. The stock has traded between $93.57 and $153.94 in the 52-week period. Nike has gained over 50% during that period.

Nike reported fourth-quarter profit of $1.51 billion or $0.93 per share, compared to net loss of $0.79 billion or $0.51 per share last year. Analysts’ polled by Thomson Reuters expected earnings of $0.51 per share. Revenues for the quarter surged 96% to $12.34 billion from $6.31 billion last year.

U.S. Economic Growth Unrevised At 6.4% In First Quarter

The Commerce Department released a report on Thursday showing the pace of U.S. economic growth in the first quarter of 2021 was unrevised from the previous estimate.

The report said real gross domestic product spiked by 6.4 percent in the first quarter, matching the estimate provided last month as well as economist estimates.

The unrevised growth came as upward revisions to nonresidential fixed investment, private inventory investment, and exports were offset by an upward revision to imports, which are a subtraction in the calculation of GDP.

The surge in GDP in the first quarter reflected an acceleration from the 4.3 percent jump seen in the fourth quarter of 2020.

The strong first quarter GDP growth reflected increases in consumer spending, nonresidential fixed investment, federal government spending, residential fixed investment, and state and local government spending.

Meanwhile, the positive contributions were partly offset by decreases in private inventory investment and exports as well as an increase in imports.

“The summer will be hot for the U.S. economy,” said Lydia Boussour, Lead U.S. Economist at Oxford Economics. “As the health situation continues to improve, consumers sitting on piles of savings will give into the urge to splurge on services and experiences they felt deprived off during the pandemic.”

“This will translate into a historic burst in consumption and fuel the fastest annual GDP advance since 1951,” she added. “We foresee the economy growing around 7.5% in 2021 with growth averaging about 12% in Q2.”

Shailene Woodley Signs With Range Media Partners

EXCLUSIVE: In another significant signing for the company, Range Media Partners has signed Shailene Woodley for representation.

The celebrated actress, well regarded for her roles in such memorable films as the coming-of-age romance, “The Fault in Our Stars,” “Adrift” The Divergent Series,“Endings, Beginnings,”  “The Descendants, and most recently HBO’s “Big Little Lies,” which earned her an Emmy nomination.  

Woodley recently wrapped the lead role and served as a producer on the indie film Misanthrope and stars in the upcoming Netflix and Studio Canal feature film The Last Letter from Your Lover, which she also produced.  Woodley next stars in the comedy film Robots, alongside Jack Whitehall. Production is set to begin this August in New Mexico.

The signing is a major win for Range as sources say Woodley was being pursued by several other companies in hope of signing her. She joins a long list of top tier clients for the company that includes Bradley Cooper, Tom Hardy, Emilia Clarke, M. Night Shymalan and Keira Knightley.

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She is also repped by Hyperion and attorney Felker, Toczek, Suddelston Abramson.

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Mister Car Wash valued at $5.6 bln, opens up 26% in NYSE debut

June 25 (Reuters) – Mister Car Wash Inc was valued at $5.6 billion in its New York Stock Exchange debut on Friday after shares of the Tucson, Arizona-based company opened 26% above their offer price.

The company’s stock opened at $18.9 per share, up from its initial public offering (IPO) price of $15 per share.

Dodgers surprise Joc Pederson’s brother Champ with World Series ring

Joc Pederson spent six years with Los Angeles Dodgers, which culminated in a World Series championship in 2020. He signed with the Chicago Cubs in the offseason and couldn’t be present for the Dodgers’ ring ceremony and banner raising in April.

But when the Cubs traveled to L.A. on Thursday, it was a night to remember. Chicago threw a team no-hitter and Pederson could finally share in the revelry with his former teammates. He received his first ring, but he wasn’t the only Pederson brother going home with some new jewelry.

The Dodgers also had a ring for Champ Pederson, Joc’s older brother with Down syndrome who had been included in several activities with L.A. over the years. Champ threw out the first pitch – to Joc – on his brother’s bobblehead night.

Wunong Net Technology Shares Gains 15%

Shares of Wunong Net Technology Co. Ltd. (WNW) are gaining over 15% on Friday morning despite no stock-related news from the company to drive the shares.

WNW is currently trading at $7.70, up $1.05 or 15.79%, on the Nasdaq. The stock has traded between $6.05 and $160.68 in the 52-week period.

Shenzen, China-based Wunong Net Technology offers online retail of foods products in China. It primarily sells green food, organic food, intangible cultural heritage food, agricultural products, and pollution-free products.