These 2 Stocks Are Raising Recession Fears
Stock markets were mixed in mid-afternoon trading on Monday. Gains for the Nasdaq Composite stood in stark contrast to triple-digit declines for the Dow Jones Industrials, and worries about the ongoing stalemate in debt ceiling discussions seemed to weigh on certain sectors of the economy but not others.
Last week, Foot Locker (NYSE: FL) announced its latest financial results, and the athletic footwear and apparel retailer's stock fell sharply. However, further declines came on Monday for Foot Locker, and that had some looking beyond the retailer to supplier Nike (NYSE: NKE) as a possible drag on markets as well. Below, you'll find out why both Nike and Foot Locker are tumbling again.
Shares of Foot Locker slumped another 8% Monday afternoon, adding to its 27% plunge on Friday. Bad news for the athletic apparel and footwear business is now weighing on the entire industry, and stock analysts aren't certain how quickly Foot Locker will be able to bounce back from its current adversity.
Source Fool.com
Nike Inc. B Stock
With 46 Buy predictions and 3 Sell predictions Nike Inc. B is one of the favorites of our community.
As a result the target price of 115 € shows a positive potential of 33.78% compared to the current price of 85.96 € for Nike Inc. B.
