FedEx, PepsiCo, Trump Media Fall Before Trading; Nike is growing by Investing.com

Investing.com — U.S. stocks were trading in tight ranges on Friday, consolidating after strong gains in the previous session following a sharp interest rate cut by the Federal Reserve.

Here are some of the largest providers of US pre-traded stocks today

• FedEx (NYSE: ) shares fell 13% after the logistics group cut its full-year guidance and reported fiscal first-quarter earnings that fell well short of Wall Street expectations.

• NIKE (NYSE: ) shares rose 5.7% after the athletic apparel firm announced that Chief Executive John Donahoe is to step down next month.

• PepsiCo (NASDAQ: ) shares fell 1.1% after Morgan Stanley downgraded its position on the soft drink giant to “equal weight” from “overweight,” citing risk to U.S. earnings growth.

• Bank of America (NYSE: ) shares were down 0.4% after Berkshire Hathaway (NYSE: ) has resumed selling the bank’s stock in recent days, offloading about $900 million worth of stock and reducing its stake to $34 billion, or 10.8 percent of outstanding shares.

• Trump Media & Technology Group (NASDAQ: ) shares fell 4.5 percent, extending sharp losses in recent weeks, fueled by concerns over the end of the so-called lock-up period tied to its March stock market debut.

• Apple (NASDAQ: ) stocks fell 0.4% after iPhone 16 resale prices on Sept. 20, the first day of shipping, “tumbled in the first three hours of trading,” according to analysts at Jefferies.

• Lennar (NYSE: ) shares fell 2.9% despite the homebuilder reporting better-than-expected third-quarter results as new-home orders rose amid strong housing demand.