(Michael M. Santiago/Getty Images)

Shares of Nike, Lululemon, other retailers rebound as Vietnam signals tariff truce with the US

President Trump and Vietnamese leader To Lam say they plan to “soon sign a bilateral agreement” to eliminate tariffs.

4/4/25 3:48PM

Apparel stocks staged a comeback Friday after President Trump said Vietnam is ready to scrap tariffs to avoid sweeping new US levies.

“I had a very productive call,” Trump posted on social media, adding that Vietnam “wants to cut their tariffs down to zero.” The update sent shares of Nike and Lululemon — both heavily reliant on Vietnamese manufacturing — soaring, along with names like Gap, Abercrombie & Fitch, Kohl’s, and Victoria’s Secret.

It was a sharp reversal from Thursday’s sell-off, when Trump slapped a 46% tariff on Vietnamese imports. Nike plunged 13% to its lowest close in nearly eight years, while On Holding and Skechers also sank double digits. Vietnam’s government said both sides “will continue talking to soon sign a bilateral agreement,” and confirmed that Trump has accepted an invitation to visit.

The country’s willingness to engage could pressure other Southeast Asian production hubs like Indonesia and Cambodia to get to the table, analysts say. Vietnam’s trade surplus with the US topped $123 billion last year — giving it plenty of incentive to make a deal.

Nia Warfield

Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

385 ✈️ 434

Max Knoblauch

Boeing on Tuesday announced that it delivered 57 commercial jets in August, its best total for the month in seven years. That brings its year-to-date delivery total to 385 planes, eclipsing its full-year 2024 figure by about 11%.

The August figure marked Boeing’s second-highest delivery total of 2025 and represented a 43% jump from the same month last year. Through August, Boeing has boosted its deliveries by 50% from last year.

The plane maker is still trailing its European rival Airbus, which delivered 61 planes in August and 434 year to date.

Nia Warfield

21h

Tariffs finally crept into retail's latest earnings results. Who were the winners and losers?

The long-awaited levies took a toll on nearly every retailer, but execution separated who could steer through the costs.