Stocks to Monitor: Nike, FedEx, and Conagra Ahead of Market Open

U.S. stock futures are showing a mixed performance as investors prepare for the market opening on March 15, 2024. Among the companies drawing attention are Nike Inc., FedEx Corp., and Conagra Brands Inc. Each of these firms is releasing key financial results that could impact investor sentiment.

Conagra Brands Inc. is expected to announce its quarterly earnings today, with analysts projecting earnings of **44 cents** per share on revenues of **$2.99 billion**, according to data from Benzinga Pro. In after-hours trading, Conagra shares saw a modest gain of **0.3%**, reaching **$17.85**.

Nike Inc. delivered its second-quarter financial results, exceeding expectations in both earnings and sales but facing challenges with declining gross margins for the second consecutive quarter. The company reported revenue of **$12.43 billion**, surpassing the analyst forecast of **$12.22 billion**. Nike’s earnings came in at **53 cents** per share, significantly above the expected **38 cents**. Despite these positive results, Nike’s shares fell **10.8%** during after-hours trading, closing at **$58.57**.

Paychex Inc. is anticipated to release its quarterly earnings with projections of **$1.23** per share on revenues of **$1.57 billion**. In after-hours trading, Paychex shares experienced a slight decline, falling **0.5%** to **$113.69**.

FedEx Corp. also reported positive financial outcomes for the second quarter of fiscal 2026, raising its revenue guidance for the fiscal year. The company now expects revenue growth between **5% and 6%**, an increase from the previous estimate of **4% to 6%**. FedEx reaffirmed its commitment to achieving **$1 billion** in permanent cost reductions through structural changes and the advancement of its Network 2.0 initiative. Following this announcement, FedEx shares rose **0.1%** to **$287.50** in after-hours trading.

Lastly, Carnival Corp. is poised to report its quarterly earnings as well, with expectations of **25 cents** per share on revenues of **$6.37 billion**. Carnival’s shares gained **0.5%** to reach **$28.49** in after-hours trading.

As these companies prepare to share their financial results, investors will be closely monitoring the market for any significant shifts that may arise from the earnings reports.