Micron Technology Inc. reported its fiscal second quarter earnings, surpassing Wall Street expectations with an adjusted earnings per share of $1.56, compared to the consensus estimate of $1.43. Revenue for the quarter reached $8.05 billion, exceeding the anticipated $7.91 billion, marking a 38% increase year-over-year. The company's strong performance was driven by a significant rise in demand for AI memory chips, with data center revenue tripling and HBM revenue surpassing the $1 billion milestone. Micron's CEO highlighted the company's competitive position and share gains in high-margin categories, while also noting that they are sold out of HBM for 2025 and seeing strong interest for 2026. Micron provided an optimistic outlook for the third quarter, forecasting adjusted revenue between $8.6 billion and $9 billion, above the consensus estimate of $8.55 billion. The company expects to achieve record quarterly revenue in the third quarter, driven by continued growth in DRAM and NAND demand across data center and consumer markets. The CFO emphasized that Micron delivered earnings above guidance in the second quarter and anticipates record revenue in the third quarter. FedEx Corp. reported its third quarter earnings, with adjusted earnings per share of $4.51, missing the consensus estimate of $4.67. Revenue for the quarter was $22.2 billion, slightly above the expected $21.91 billion, representing a 2.3% increase year-over-year. Despite the revenue beat, the company cited a challenging operating environment, including a compressed peak season and severe weather events, as factors affecting profitability. FedEx's CEO mentioned that the company is on track to achieve a $2.2 billion cost savings target for the fiscal year. FedEx lowered its full-year profit outlook for the third consecutive quarter, now expecting adjusted earnings per share to be between $18 and $18.60, down from the previous range of $19 to $20. The company also anticipates flat to slightly down year-over-year revenue, reflecting ongoing economic uncertainty and weakness in the U.S. industrial economy. FedEx's CFO noted a $400 million headwind from international export yield pressure and projected capital spending to be $4.9 billion for the year. Nike Inc. reported its fiscal third quarter earnings, with revenue of $11.27 billion, surpassing the consensus estimate of $11.01 billion, though it represented a 9% year-over-year decline. Adjusted earnings per share were $0.54, beating the expected $0.30. The company's performance was impacted by a significant drop in sales in China, down 17%, and a 12% decline in footwear revenue, marking the worst growth rate in over a decade. Nike's new CEO, Elliott Hill, emphasized the company's focus on sports and its identity as a sports company. Looking ahead, Nike forecasted a steeper-than-expected revenue drop for the fourth quarter, projecting a decline in the mid-teens range, with gross margins expected to decrease by 400 to 500 basis points. The company attributed these projections to ongoing inventory liquidation efforts, tariffs, and declining consumer confidence. Nike's CFO, Matthew Friend, mentioned the impact of newly implemented tariffs on imports from China and Mexico, and the company's strategy to clear out old inventory through discounts.