RCII - Nike's Down but These 2 Nasdaq Stocks Fell Even Further Friday
Investors have had a hard time navigating the current stock market environment, and Friday didn't seem likely to bring any obvious answers to resolve the many uncertainties plaguing Wall Street right now. Futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) were all over the map in premarket trading Friday morning, as many investors reacted negatively to bad news from athletic footwear and apparel giant Nike in its most recent quarterly financial report.
Nike's premarket losses of 13% were extreme, but it turns out that there were two Nasdaq stocks with even bigger declines early Friday. Both Intercept Pharmaceuticals (NASDAQ: ICPT) and Rent-A-Center (NASDAQ: RCII) posted steeper drops as they tried to work through some major setbacks and reassure their shareholders that the future could improve.
Shares of Intercept Pharmaceuticals fell 15% in premarket trading Friday. The biopharmaceutical company got bad news from a study that it hoped would expand its prospects for a key pipeline treatment.
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Nike's Down, but These 2 Nasdaq Stocks Fell Even Further Friday