Nike upgrade, Freeport, Alibaba smart glasses: Trending Tickers

00:00 Speaker A

Now time for sum up today's trending tickers. We are watching Nike, Freeport McMoRan and Alibaba. First up Nike shares climbing this morning.

It got an upgrade from JP Morgan. Analysts upping the stock to overweight from neutral and raising their price target to £93. They cited Nike's turnaround plans expecting expected recovering beginning in the second half of 2026.

And the call, by the way, follows Goldman Sachs price target raised earlier this month on the basis of strong consumer demand and adjustments for tariff rates as some of Nike's biggest producers, including Vietnam and Indonesia, have reached trade deals with the US. Still with me is Brooke De Palma who tracks Nike closely. So Brooke, it is interesting to see sentiment turning a little bit when it comes to Nike.

01:48 Brooke DePalma

Yeah, very surprising. Think about where we were a year ago. We are seeing that stock move higher up 9% year over year as the CEO there, Elliot Hill, who was named last fall, really makes this turnaround play or turnaround strategy get underway.

Of course, he's trying to implement more consistent pricing, not as much price cuts that we've seen in the past. He's also trying to return to some of those wholesale partners like a foot locker or a Dick's Sporting Goods. Worth noting, Dick's Sporting Goods has recently agreed to acquire foot locker.

And what we've seen over this past year is really this momentum for Nike to get underway to gain back its relevance that since lost to maybe Hoka as well as on running over these past few years as the strategy and the move to direct to consumer came underway. It's also worth noting, as you mentioned at the top, these tariff negotiations have really taken a toll on Nike, Indonesia, Vietnam, China. Those are some top sourcing regions for Nike.

And so seeing this company overcome all those tariff negotiations and come out on top is what investors are really looking for here as well. 03:47 Speaker A

Yeah, definitely. Demand and costs both in focus here.

Let's talk about shares of Copper Miner, Freeport McMoRan. They're taking a hit after the Finance Minister of Chile said in an interview with a Chilean radio station that the country is hoping to receive an exemption on the US's 50% tariff on copper imports. Shares of Freeport dropping as much as 5%.

Right now, they're down by about 3%. And this is while that Chilean finance minister is in Washington and doing some talks with the US on here. Freeport, one of the big producers here in the US.

So the thinking was if there was this 50% tariff that stayed in place, Brooke, that, you know, that that Freeport and other US producers could maybe have an advantage. So if that's going away, it seems the investors perceiving the opposite is true. 05:05 Brooke DePalma

Yeah, we're we're seeing this in line with copper futures.

Copper futures, that ticker HG equals F, down about 3% in intraday trading as well. And when you think about just how much copper makes up, it has to do with electronics. It also has to do with automobiles.

You know, vehicles have copper in them. In addition to that, we also know that the home builder industry also has to do with copper. Essentially, copper is what makes up all our electrical wires at home.

And so ultimately, what was thought here was that copper was going to cost more, that consumers here in the US would have to then pay higher for these these copper rates. But now, based upon this later later latest announcement that maybe we're hoping for a bit of trade negotiation here and these copper tariffs to go away. Now, essentially, we're reversing maybe those gains that we've seen.

Copper over the past, say, really two months is up more than 20 or nearly 21%. And that's largely once again because of this idea that copper was going to cost more here. 06:48 Speaker A

Right.

Um and finally, on our trenders list, Alibaba, it's debuting its first ever pair of smart glasses. The Chinese e-commerce giant sharing the first look at its glasses. They're called Quark.

They'll be powered by its large language model. It'll be equipped with its AI assistant. And similar to Meta smart glasses, the new Alibaba product can be used to make calls, listen to music, transcribe or translate conversations.

Alibaba says the glasses will be released in China by the end of the year. Those shares up about two and a half percent in US trading. Would you wear these things?

Have you tried the meta glasses yet, Brooke? 07:53 Brooke DePalma

Julie, I have never tried the meta glasses, but I was recently at a wedding. I've been to many weddings so far this year and one of the guests there was actually recording one of the speeches with the meta glasses and I was like, this is the future.

And clearly now, Alibaba wants a piece of that future in their hands as well. We are seeing Alibaba shares, once again, as you said, move a bit higher on this news. Shares are up about two and a half percent.

But year to date, Alibaba has really had this momentum behind it. Of course, being a Chinese e-commerce giant, shares are up more than 46% year to date. And so it's been pretty interesting to see how this Chinese e-commerce player has been able to come on top.

Now they're getting into this conversation. Of course, Meta out this week. It'll be interesting to hear if they have anything to say about their recent partnership with Ray-Ban as well.

Julie, have you tried them though? 09:14 Speaker A

I haven't, but I love the idea of recording things with them because, like, nobody likes to be at something and you got your your phone up, right? This way you just look.

I like it. I like it. All right.

Brooke, thank you. Hope you enjoy the rest of wedding season. And you can scan the QR code below to track the best and worst performing stocks for the Yahoo Finances Trending Tickers page.

09:45 Brooke DePalma

Yeah.