Steven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.
Adidas shares ADS, +4.18% rose 4% as the company pre-released its third-quarter numbers, reporting a 27% decline in operating profit on a 6% fall in revenue. Adidas said its results were helped by selling its remaining Yeezy inventory, as well as a “better than expected” performance of its underlying business.
Analysts at Stifel say the implied guide for the fourth quarter is “highly conservative.” “From one company to another, Bjorn Gulden has pursued a guide low/beat-and-raise communication strategy even since FY22 results,” said the analysts. Shares of Gulden’s former company, Puma PUM, +2.76%, rose 3%.
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