Tour de earnings: Nike, Carnival, and Micron Technology

🚢 Carnival dropped 1.16%, despite reporting stellar Q1 financial results: The cruise ship operator managed to beat earnings expectations, report record revenue, and raise its full-year guidance, all amid an economic slowdown. Its only miss was earnings guidance, which came in at $0.22 for the second quarter, slightly below estimates of $0.23. However, broad negative sentiment about consumer confidence may be more responsible for today’s decline than a mere penny.

• EPS: $0.13, beating expectations of $0.02
• Revenue: $5.8 billion, above projections of $5.75 billion

💿 Micron Technology declined 8.04%, even after reporting that its data center revenue tripled year over year in the second quarter. And that wasn’t the only good news: Revenue increased 38% annually, plus Micron raised its forward looking revenue guidance for Q3 up to $8.8 billion, higher than estimates of $8.5 billion. But some analysts flagged lower profits from the firm’s core memory business as a cause for concern, sending shares lower.

• EPS: $1.56 adjusted, beating expectations of $1.42
• Revenue: $8.05 billion, outpacing projections of $7.89 billion

👟 Nike just can’t do it: Shares slid 5.46% today after the iconic athletic apparel company announced that sales dropped 9% year over year, even though they beat expectations. But the real problem was management’s forecast of lower Q4 sales due to tariff threats and waning consumer confidence. The news is a setback for Nike’s turnaround plan, which new CEO Elliot Hill has been trying to implement since he returned to the brand five months ago.—LB

• EPS: $0.54, beating estimates of $0.29
• Revenue: $11.27 billion, beating estimates of $11.01 billion