Nike Slumps, Intel Jumps, Tesla Gains

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Nike (NKE) shares slide as much as 14%, to the lowest level since Feb. 2015, after the sportswear company forecast a revenue drop of as much as 4% for the fourth quarter, and warned sales declines could persist for the rest of this calendar year.

- Intel (INTC) shares are up 9.8% on Wednesday, after the chipmaker agreed to pay $14.2 billion to buy back half of a plant in Ireland. D.A. Davidson wrote that the move bodes well for the company’s turnaround story.

- Tesla (TSLA) likely delivered about 372,160 vehicles during the last three months, up about 11% from a year ago, but still among the lowest recent quarterly totals for the company. Slower sales are likely the new normal for Tesla as it pivots its focus to AI, autonomy and robotics amid weakening global EV demand and a US market that now lacks a federal tax incentive for plug-in cars. Shares rose as a result.

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