Good morning and welcome to Markets Desk.
Nike reported its fiscal first quarter results, beating on earnings per share but missing revenue expectations, leaving investors to weigh whether the brand's ongoing turnaround under its returning leadership has enough momentum to justify the current valuation. The stock remains a contested name heading into the holiday quarter.
Shifting to the digital assets space, OKX and Intercontinental Exchange, the parent of the New York Stock Exchange, have notified the SEC of their intent to launch a tokenized securities trading venue through the agency's innovation exemption. The joint venture, known as OKXICE, represents one of the most institutionally credible bids yet to bring blockchain-based equity trading into a regulated framework.
And in biotech, Foghorn Therapeutics announced it will not advance its FHD-nine-oh-nine program following Phase one dose-escalation data, a setback that narrows the company's pipeline and shifts its entire focus to its proprietary chromatin regulatory platform. Investors will be watching closely to see whether the remaining pipeline can carry the weight of that pivot.
That's the tape. Markets Desk, signing off the floor.
