Nike (NKE)

Nike (NKE) beat modest earnings expectations with new CEO Elliott Hill, but investors remain jittery over the impact of Trump tariffs.

Shares in Nike (NKE) fell by more than 5.5% in pre-market trading on Friday.

The footwear giant posted its fiscal third quarter earnings on Thursday after market close. Its revenue of $11.3bn (£8.7bn) surpassed estimates of $11bn, though a drop compared to the $12.4bn from a year ago.

Adjusted earnings per share came in at $0.54 compared to estimates of $0.30, but also under last year's $0.98.

The earnings report is the second under Hill, a company veteran who took the helm on 14 October. Shares initially popped, then dropped roughly 5% in after-hours trading as the company shared its fourth quarter guidance.

CFO Matthew Friend warned of the impact of Donald Trump's tariffs, including a 20% duty on all goods from China.

"We expect fourth quarter gross margins to be down approximately 400 to 500 basis points, including restructuring charges during the same period last year. We have included the estimated impact from newly implemented tariffs on imports from China and Mexico," Friend said on the earnings call.

UK-listed stocks also took a hit. JD Sports (JD.L) fell around 4.7% in early trade as the fashion industry digests a potential wider problem.

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FedEx (FDX)

Delivery firm FedEx (FDX) looked set to open around 8% lower when US markets wake up later on, as investors react to its moves to cut 2025 fiscal forecasts amid trade disputes.

CEO Raj Subramaniam said on Thursday that FedEx (FDX) is "navigating a very challenging operating environment" amid the implementation of unpredictable and wide-ranging tariffs by president Trump.

The warning came after FedEx (FDX) unveiled a solid quarterly earnings report.

Industry peer UPS (UPS) also fell in premarket.

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Tesla (TSLA)

Tesla (TSLA) stock looks set to fall when markets later on, with shares down as much as 1% in premarket on Friday morning.

The moves lower come following reports that the electric vehicle maker has been forced to recall almost all of its once iconic stainless steel cybertrucks due to safety issues raised by regulators about the glue used to stick some of its outer panels on.

A total of 46,100 vehicles are being recalled by the US National Highway Traffic Safety Administration (NHTSA).

The Elon Musk-led company is also facing up to backlash against its CEO, as discontent rises with the Trump administration. A pullback in support for the company has led to falling sales.

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International Consolidated Airlines Group (IAG.L)

British Airways owner International Consolidated Airlines Group (IAG.L) saw its stock dip on Friday in London, as investors look to a shutdown at one of the world's busiest airports.

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A fire at Hayes, near Heathrow Airport and subsequent power outage has meant the cancellation of more than 1,000 flights out of the travel hub, while many other flights had to be rerouted.

"This will clearly have a significant impact on our operation and our customers and we’re working as quickly as possible to update them on their travel options for the next 24 hours and beyond," Heathrow said on its social media.

Easyjet (EZJ.L) stock was also 0.4% lower while Ryanair (RYA.IR) lost nearly 2%.

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