Earnings Report

U.S. stocks staged a late-session selloff.

GameStop Corp. shares plunged Wednesday after the company declined to answer questions about its e-commerce push and said it was considering selling stock to fund its transformation.

Adjusted net income for the quarter was $90.7 million, or $1.34 per share, compared to adjusted net income of $83.8 million, or $1.27 per share, a year ago.

GameStop Corp. is set to deliver its first set of quarterly results since the Reddit-trading frenzy caused its stock price to soar.

U.S. equity markets rose Monday as tech stocks rallied.

U.S. equity markets finished mixed Friday as the Nasdaq rebounded while the Dow Jones Industrial Average and the S&P 500 lost ground. 

Nike reported net income of $1.4 billion, or 90 cents per share, compared with $847 million, or 53 cents per share, a year ago.

FedEx has been handling a surge in e-commerce orders during the Covid-19 pandemic as more people shop from home. Executives said Thursday they expected that trend to persist even as vaccines roll out.

Stocks tumbled as bond yields continued to climb.

Net sales for the third quarter were $82.6 million, an increase of $39.3 million, or 90.7%, compared to net sales of $43.3 million for the comparable quarter last year.