Sportswear stocks sprint higher on Nike momentum

Sportswear retailers climbed Friday as investors rode the wave of Nike’s surprise earnings beat.

Dick’s Sporting Goods jumped nearly 5%, while Adidas shares were up nearly 4% and Puma rose nearly 3%. Hoka parent Deckers Outdoor was also up over 2%.

Nike’s Q4 results showed progress on marketing, margin control, and streamlining operations. Retailers like Dick’s, which sells Nike products, could benefit directly from Nike’s improved inventory mix and refreshed product pipeline. Analysts estimate that Nike could make up 30% to 35% of Dick’s total sales after Dick’s Foot Locker acquisition goes through.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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