Check out the companies making headlines before the market opens. Nike — The athletic retailer reported disappointing revenue for its latest quarter, lowered guidance and said it expects sales to fall 10% in the period, sending its shares down more than 14%. The company now expects sales to drop to around single digits in fiscal 2025. Trump Media & Technology — Following the first presidential debate between former President Donald Trump and President Joe Biden, Trump Media & Technology & Technology) shares rose more than 10%. Many viewed Biden’s performance as disappointing. Infinera — Infinera shares rose 19%. Nokia announced plans to acquire the network solutions provider for $2.3 billion. Digital Reality Trust — The real estate investment trust gained 1.7%. JPMorgan upgraded Digital Realty Trust to “overweight,” saying the stock is expected to benefit from the growth of artificial intelligence and cloud computing. SAP — Shares of SAP were up about 1% in pre-market trading. BMO Capital Markets upgraded the stock to outperform and raised its price target, citing “high visibility” of bookings and revenue. —CNBC’s Jesse Pound contributed reporting.
