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Market Movers Today: Nike Inc (NKE), Forward Industries, Inc. (FORD), International Business Machines Corp (IBM), and More

Nike Inc (NYSE:NKE) (TheStreet)

Shares of Nike (NYSE:NKE) rose over 3% Friday morning following an upgrade by Wedbush to Outperform (from Neutral) with a new price target of $74.00 (from $57.00). Analyst Chris Svezia says he is more confidence now that there is an inflection point for margins on the horizon and suspects Nike may start returning to growth in North America in FY 2019. “Guidance suggests the building blocks should become more evident during 4Q (ends May), which we now expect to carry more broadly into FY19.”

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International Business Machines Corp (NYSE:IBM) (Reuters)
(Reuters) – Shares in International Business Machines fell 2.6 percent on Friday as analysts judged a “disappointing” full-year profit forecast showed that the company would take more time to get back on a path of steady growth. IBM’s results call after U.S. markets closed on Thursday forecast an operating profit of at least $13.80 per share for 2018, compared with $13.80 in 2017 and market expectations of $13.92, according to Thomson Reuters I/B/E/S. The outlook came on the back of the computing services and hardware firm’s first quarterly revenue growth in six years.

Acorda Therapeutics Inc (NASDAQ:ACOR) (
Shares of Acorda Therapeutics Inc. (NASDAQ: ACOR), a biopharmaceutical company focused on neurological disorders, popped 15.4% during early morning trading after Bloomberg reported that Biogen Inc. (NASDAQ: BIIB) and several smaller suitors appear interested in a potential sale. The stock has settled down to a 10% gain as of 11:37 a.m. EST on Friday.

Kohl’s Corporation (NYSE:KSS) (CNBC)
Kohl’s is “sleeping with the enemy” and that’s a good thing, according to Jefferies analyst Randal Konik. Jefferies raised its price target on Kohl’s stock to $100 from $66. That represents a gain of more than 50 percent from Thursday’s closing price of $64.85. Kohl’s shares climbed around 3 percent Friday after the Jefferies report.

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