BNP Paribas

Cramer on next move after tech stock rallies

CNBC Investing Club host Jim Cramer recapped a morning meeting after markets rallied on strong corporate earnings and easing Middle East tensions. Treasury Secretary Scott Bessent said the U.S. is in talks with Iran and a deal to reopen the Strait of Hormuz could come imminently, sending oil lower. AI and data-center stocks extended gains; Cramer said Intel is "finally flying" and remains his preferred AI play. Boeing rose after a BNP Paribas upgrade, falling oil prices and FAA certification of the 737 Max 7. Microsoft continued gains while Amazon fell 2.5% after founder Jeff Bezos disclosed plans to sell roughly $4 billion of stock. Several other names were noted in a rapid-fire segment, and Cramer’s Charitable Trust holds AMZN, BA, INTC and MSFT.

Nike resets online distribution in China

Nike is consolidating its online distribution in Greater China after executives described the brand's presence in the market as "too fragmented." Beginning in January, Nike will centralize its China online experience to official Nike channels — the Nike app and website — plus flagship presences on Tmall, JD.com and Douyin; hundreds of other third-party digital storefronts will close. Greater China revenue fell 12% in Nike’s latest quarter, and the change will affect major local partners such as Topsports and Pou Sheng, which previously generated significant Nike-related online revenue. Nike is also investing in locally led retail concepts and has named a vice president of local product creation for Greater China, with the first local product due this holiday season.

Levi’s World Cup Virality Could Boost Q3

Levi Strauss & Co. reported stronger-than-expected Q2 results and highlighted a viral World Cup marketing stunt that could lift third-quarter results. For Q2 the company posted net revenues of $1.6 billion (up 8% year-over-year) and net income of over $87 million (up nearly a third). Direct-to-consumer (DTC) sales grew 11% and comprised 51% of total revenues; wholesale rose 5%. Levi’s temporarily rebranded Levi’s Stadium to comply with FIFA sponsorship rules and tightly wrapped its batwing logo in stadium signage, social and flagship stores, a stunt the company says generated roughly one billion media impressions. Management cited DTC strategy and growth at its Beyond Yoga activewear brand (Q2 revenue up 16% to $43 million) as drivers of momentum, while analysts noted North America as the primary upside for the quarter.