👟 Nike lives for a comeback

Good evening. Trump called off trade talks with Canada after it threatened new tariffs over its digital services tax. But that was offset by news of a formal trade deal with China, including a rare earth supply agreement.

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Market data: today’s market close

WINNERS

⬆︎15.19% Nike

🛎️ Earnings report - Trust the process. The sportswear icon actually reported better-than-feared earnings; revenue fell 12%, but that was less than expected. It’s also preparing for a $1 billion tariffs hit. Still, the returning CEO is shifting production out of China, cutting costs, and planning price hikes. Investors seem to think this reset could finally get Nike back on track after a tough stretch. [Read more]

⬆︎6.01% United Natural Foods

Back online and moving forward. United Natural Foods, the powerhouse distributor behind Whole Foods and thousands of retailers, experienced a cyberattack on June 5 that forced it to shut down key systems used for order fulfillment and distribution. Today, the company announced it has restored its core systems, resumed regular shipping operations, confirmed no customer data was compromised, and reaffirmed that its long-term goals remain on track. [Read more]

⬆︎5.91% Boeing

After years of turbulence, the aircraft maker may finally be regaining altitude. Rothschild & Co Redburn upgraded the stock from Neutral to Buy, citing signs of improvement across the board: finances, culture, operations, and strategy. “The company appears healthier,” said analyst Olivier Brochet. [Read more]

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LOSERS

⬇︎10.64% Palantir

Reality check. Palantir, the data and AI powerhouse known for its government contracts, has been on a exceptional run lately. Some investors may now be taking profits. There’s also chatter about a slightly smaller U.S. defense budget and easing tensions in the Middle East, both of which could be weighing on the stock. [Read more]

⬇︎8.59% MP Materials

Caught in the crosswinds. MP Materials is a U.S. company focused on rare earth magnets used in everything from EVs to defense tech. The new U.S.-China trade deal makes rare earths a key condition, meaning the U.S. will resume sourcing some materials from China. This could reduce urgency around building a domestic supply, something MP has been counting on. [Read more]

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Market data: today’s market close

EXTRA

THE END

That’s it for today’s recap. We hope you found it valuable.

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