By Ben Glickman
Nike now expects revenue to rise 1% for the full year ending in May, compared with previous expectations of mid-single digit growth. The company said it expects revenue in the current quarter to fall slightly, after reporting second-quarter revenue in line with Wall Street’s estimates and announcing $2 billion in cost cuts over three years. Shares fall 11% to $108.86 after-hours.
AAR’s profit rose slightly in the fiscal second quarter but missed analysts’ estimates. The company’s sales sank under 1% from a year ago despite higher demand in the aviation services company’s parts supply business. Shares fall 3.8% to $68.10 after-hours.
Mission Produce said it is expecting slightly lower volumes of avocados in the current quarter due to a light Mexican harvest, as well as a slight sequential decline in selling price. The company swung to a profit in the fiscal fourth quarter, boosted by higher prices. Shares fall 3.1% to $9.27 after-hours.
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