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Shares in Nike (NYSE: NKE) are falling in early-market trading after the company announced its Q3 2025 results yesterday. Currently, NKE shares are down around 8% as investors digest not just the companys most recent earnings results, but the statements the shoe giant made about its current Q4, which ends in May. Heres what you need to know about Nikes stock price drop. Not as bad as expected Yesterday, Nike announced its results for its third quarter of fiscal 2025, which ended on February 28. The quarter is arguably the most important in Nikes fiscal calendar year as it encompasses the month of December when shoppers are out and about buying gifts for the holiday season. Unfortunately, Nikes results were down in several key categories during Q3: Revenue: $11.3 billion down 9% Nike Direct revenues: $4.7 billion down 12% Wholesale revenues: $6.2 billion down 7% Diluted earnings per share (EPS): 54 cents Now, there are some small highlights to the companys earnings announcements, as noted by CNBC. Nike posted an EPS of 54 cents for the quarter. Though that is down from the EPS of 77 cents for the quarter a year earlier, it still beat estimates of an EPS of 29 cents for Q3 2025. Likewise, while its revenue of $11.3 billion was down from its revenue of $12.4 billion a year earlier, its Q3 2025 revenue beat consensus estimates of $11.01 billion. In other words, while Nike did worse than year-over-year, the company did not do as badly as some analysts had anticipated. Q4 warnings rattle investors Despite beating estimates, Nike stock is still trading much lower this morning. Yesterday, the companys share price closed at $71.86, but today, the companys stock price is down around 8% as of the time of this writing to below $66.50 per share. The main reason for that drop seems to be investor jitters over the companys warnings about its current Q4, which ends in May. As noted by CNBC, Nike has warned that it is in for a rough Q4. Why? The company cited declining consumer confidence and President Trumps tariffs on China as two main factors. Since Trump took office in January, the stock market has tumbled, and concerns have increased as expertsand increasingly, consumersfear that the president’s policies are negatively impacting the economy. Trump has initiated a number of tariffsor threats of tariffsagainst America’s largest trading partners, including Mexico, Canada, and China. Tariffs of as much as 20% have already gone into effect against Chinaand thats a problem for Nike. CNBC says that around 24% of Nikes suppliers and manufacturers are in China. If there is now a 20% tariff on those goods imported into the country, Nike will either need to eat the cost, find a way to push the costs onto its suppliers, or pass those costs onto consumers. This means that Nike could take a hit to its margins, or the company could be forced to raise prices, which may alienate already cash-strapped consumers. Many Nike products are considered discretionary goods (consumers don’t need them to survive). And if the economy continues to sour and prices continue to rise, consumers will reduce their spending on discretionary goods in order to afford necessities. In a conference call with analysts, CNBC says Nike CFO Matt Friend addressed Nikes current challenges directly, stating the company is navigating through several external factors that create uncertainty in the current operating environment, including geopolitical dynamics, new tariffs, volatile foreign exchange rates and tax regulations, as well as the impact of this uncertainty and other macro factors on consumer confidence. Nike says it expects its sales to be down in Q4, with CNBC reporting that Friend said sales will likely be at the low end of the mid-teens range. Shares down more than 34% Not only are Nike shares down today after the companys Q3 earnings and Q4 warnings, Nike stock is down for both the 2025 calendar year and down over the past 12 months. Since the beginning of 2025, Nike shares have lost around 13% of their value as of the time of this writing. And over the past 12 months, NKE shares have declined more than 34%.
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E-Commerce
JPMorgan Chase has long publicly championed diversity, equity, and inclusion in the workplace. Going forward, however, the bank will be embracing the term “opportunity” in lieu of “equity.” On Friday, the bank announced a notable change to the name of its DEI program. “We are changing ‘equity’ to ‘opportunity’ and renaming our organization to Diversity, Opportunity & Inclusion (DOI) because the ‘e’ always meant equal opportunity to us, not equal outcomes, and we believe this more accurately reflects our ongoing approach to reach the most customers and clients to grow our business, create an inclusive workplace for our employees and increase access to opportunities,” chief operating officer Jenn Piepzak explained in a memo obtained by Reuters. The memo also outlined a number of changes, from cutting back on trainings to embedding certain diversity programs into other departments like Human Resources. In what seemed to be a reference to President Trump’s recent executive orders targeting corporate DEI programs, Piepzak reiterated JPMorgan’s commitment to merit-based practices. (When reached for comment, a JPMorgan spokesperson shared the full text of the memo and noted that the company had started making these changes following the Supreme Court ruling on affirmative action in 2023.) Weve always been committed to hiring, compensation and promotion that are merit-based; we do not have illegal quotas or pay incentives, and we would never turn someone away because of their political or religious beliefs, or because of who they are, Piepzak said in the memo. Were not perfect, but we take pride in constantly challenging ourselves and raising the bar. As the Trump administration has fixed its sights on DEI efforts in the private sector, leading finance companies have reevaluated their language on diversity. According to a recent report by Gravity Research, the risk of DEI-related litigation has been of particular concern to finance executives, and the Wall Street Journal reported last month that many banks (among them JPMorgan) were auditing their diversity programs and planning to adjust their public language on DEI in upcoming regulatory filings. In February, Citigroupwhich also happens to be the only major bank with a female CEOretreated from some of its diversity goals and renamed its DEI team. Even prior to the latest change at JPMorgan, its outspoken CEO Jamie Dimon had made several comments about the company’s DEI programs in recent months. Speaking at an internal town hall last month, Dimon said he was “never a firm believer in bias training,” seemingly a reference to unconscious bias trainings (which have been criticized as ineffective). Dimon also claimed that the company had overspent on certain DEI initiatives. I saw how we were spending money on some of this stupid shit, and it really pissed me off, Dimon said, according to a Bloomberg report. Im just gonna cancel them. I dont like wasted money in bureaucracy. All the while, however, Dimon has continued to preach support for diversity programs and underscored JPMorgan’s commitment to diversity and inclusion work. “Were still going to reach out to the Black, Hispanic, LGBT, veteran, [and] disabled communitieswere not changing that,” he said in a subsequent CNBC interview. “But if we did something wrong with DEI, were going to fix it. I never had a problem admitting that we did too much and we need to change something.”
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E-Commerce
U.S. President Donald Trump said on Thursday he is withdrawing an executive order that targeted law firm Paul Weiss, saying the firm “acknowledged the wrongdoing” of an attorney who investigated the president and has pledged $40 million in free legal work to support the administration. The surprise move, which comes amid a wave of attacks by the Republican president on prominent law firms, follows a meeting between the president and Paul Weiss’ chairman, Brad Karp, according to the White House. During that meeting, Karp acknowledged the wrongdoing of Mark Pomerantz, a former partner at the New York firm, who was involved in the Manhattan district attorney’s investigation into Trump’s hush money payments to a porn star, the White House said. “Paul Weiss agrees that the bedrock principle of American Justice is that it must be fair and nonpartisan for all,” said Trump. Pomerantz, who worked most recently at Paul Weiss until 2022, said in a statement: I engaged in no wrongdoing by working as a prosecutor to uphold the rule of law.” Paul Weiss did not immediately respond to a request for comment. Trump’s executive order against Paul Weiss suspended its lawyers’ security clearances and restricted their access to government buildings and officials, citing the firm’s diversity policies and its association with Pomerantz. Trump said Thursday that Paul Weiss promised to dedicate the equivalent of $40 million in pro bono legal work during the president’s term toward administration priorities such as combating antisemitism and support for veterans. The firm also agreed to audit its employment practices and purge them of any diversity, equity and inclusion (DEI) policies, the White House said. Trump has mounted a broad campaign against DEI practices in government and the private sector that the administration alleges are discriminatory. On Monday the U.S. Equal Employment Opportunity Commission sent demands to 20 major law firms for detailed information about their diversity initiatives and racial and gender demographics. The apparent truce between Trump and Paul Weiss is in stark contrast with the response of another firm, Perkins Coie, that sued the administration after it was hit with a similar executive order this month. A judge in Washington temporarily blocked parts of the Perkins Coie order on March 12, finding the firm was likely to win its lawsuit alleging Trump’s actions violated the firm’s rights under the U.S. Constitution. Perkins Coie did not immediately respond to a request for comment on Trump’s decision to rescind the Paul Weiss order. Paul Weiss’ chairman Karp helped raise funds for Trump’s 2024 election opponent Kamala Harris. The firm’s partners include Loretta Lynch, who was U.S. attorney general during the Democratic Obama administration. The firm is known for guiding corporate deals on behalf of financial giants like Apollo Global Management, Blackstone Group, Citibank and Goldman Sachs, and for handling high-stakes litigation for tech industry clients such as Alphabet’s Google and Amazon.com. The companies either declined to comment or did not immediately respond to requests for comment. Paul Weiss told a judge in New Jersey on Wednesday that it was fired by a client it was defending in a bribery case because of Trump’s order. Perkins Coie in its lawsuit said seven of its clients had left the firm due to the order against it. Leslie Levin, a University of Connecticut law professor and expert on the legal profession, said Paul Weiss likely feared a client exodus. There was no playbook for how to deal with this, she said. Jasper Ward and Mike Scarcella, Reuters
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E-Commerce
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