Barclays rebounds, a warning about Nike

Tue, Jun 28, 2016, 9:51 AM

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Barclays (BCS) was up 3% today, posting gains along with the European and British markets. The London-based bank lost a third of its value following the Brexit vote. JP Morgan, Bank of America Merrill, and Jefferies all downgraded the stock yesterday in light of Britain's decision to leave the European Union. Year-to-date, Barclays shares are down 45%.

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Nike (NKE) was up less than 1% in pre-market trading. Its 4th quarter results will be posted after the market close. Ahead of the Olympics in Rio this summer, analysts at Wells Fargo warned that Nike shares tend to decline after releasing earnings before a major sporting event. Nike's stock fell nearly 10% on the day it provided guidance just prior to each of the last two summer Olympics. So far this year, Nike shares are down nearly 16%.

[Correction: A previous version of this story stated that Apollo Education Group will report after the bell on June 28. The company has yet to announce a report release date.]

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Barclays rebounds, a warning about Nike

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