Market News: Nike, Pier 1 Imports, Aratana Therapeutics

Market News: Nike, Pier 1 Imports, Aratana Therapeutics

The stock markets in the United States declined except the Dow Jones Industrial Average, up by 0.61% as of 2:41 in the afternoon in New York today. The biotechnology shares slid toward a bear market, which dragged down the NASDAQ by 0.87%. The S&P 500 and Russell 2000 was down 0.1% and 0.86%, respectively as of this writing.

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Yesterday, Federal Reserve Chairperson Janet Yellen stated that the central bank is still on track to raise interest rates this year. However, she emphasized that economic surprises could lead policymakers to change course.

Last week, the Federal Reserve maintained its federal funds rate due to concerns that the recent global market turmoil including China’s economic slowdown could spillover to the U.S. economy.

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Today, the Department of Commerce reported that the U.S. gross domestic product (GDP) rose to 3.9% in the second quarter, up by 0.2% from the 3.7% previous estimate. The data alleviated some concerns regarding the potential impact of an emerging-market downturn to the U.S. economy. The GDP growth was driven by increased consumer spending and business investments.

The University of Michigan Consumer Confidence Index declined 5.1% from 91.9 in August to 87.2 in September. Surveys of Consumers chief economist Richard Curtin said, “Americans realize that the domestic economy has become more vulnerable to global economic trends. Consumers view the recent stock market movement as symptoms of global weaknesses rather than domestic conditions.”


“The true significance of these findings is not the change in their economic prospects, but that consumers now believe that global economic trends can directly influence their job and wage prospects as well as indirectly via financial markets. While now small, the global economy influence is certain to rise in the future and prompt widespread adjustments by consumers and policymakers,” added Curtin.

U.S. Markets

(as of 2:41 PM, EST)

• Dow Jones Industrial Average (DJIA) – 16, 300.90 (+0.61%)
• S&P 500- 1,931.96 (-0.01%)
• NASDAQ- 4,693.38 (-0.87%)
• Russell 2000- 1,127.70 (-0.86%)

European Markets

• EURO STOXX 50 Price EUR- 3,113.16 (+3.11%)
• FTSE 100 Index- 6,109.01 (+2.47%)
• Deutsche Borse AG German Stock Index DAX- 9,688.53 (+2.77%)

Asia-Pacific Markets

• Nikkei 225- 17,880.51 (+1.76%)
• Hong Kong Hang Seng Index- 21,186.32 (+0.43%)
• Shanghai Shenzhen CSI 300 Index- 3,231.95 (-1.61%)

ValueWalk stocks in focus

The stock price of Nike climbed more than 9% to $125.16 per share. The company reported outstanding financial results for its fiscal first-quarter 2016. The athletic footwear and apparel giant posted a 23% increase in earnings to $1.34 per diluted share on $8.4 billion revenue, up by 5%.

The stock value of Pier 1 Imports plummeted more than 16% to $7.25 per share after reported lower-than-expected financial results for its fiscal second-quarter 2016. The company’s net income declined 65% to $3.2 million or $0.04 per share. Its revenue was $430 million. Analysts expected the company to deliver earnings of $0.07 per share on $435.7 million in revenue.

Aratana Therapeutics tanked more than 38% to $10.72 per share. Craig Hallum downgraded its rating on the stock to Hold from Buy. The company is among the biggest losers on NASDAQ today.


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Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
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