Nike Falls, P&G Gains, Chevron Mixed as Wirth Warns US Diesel Curbs Could Send Prices Higher

On this episode of Stock Movers: - Nike (NKE) shares fall after the company was downgraded to sell from hold at Berenberg, which sees another 19% downside for the shares amid challenges with its position in the sportswear market and in China. Analyst Nick Anderson says “Nike appears to have accepted a smaller place in sportswear,” with a “proliferating number of challengers across increasingly fragmented local and category niches” - P&G (PG) shares rise. Procter & Gamble Co. shares are up after Evercore ISI upgraded the maker of consumer products to outperform from inline, citing an improved growth outlook going forward. - Chevron (CVX) shares gain. A US ban on diesel exports could result in higher prices in some parts of the country as well as causing issues with other nations that rely on American supplies, Chevron Corp. Chief Executive Officer Mike Wirth said on Tuesday.See omnystudio.com/listener for privacy information.