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Nike shares fall, ALS drug approved, and more: Friday's five things to know

The markets will be reacting to a slew of key economic reports including consumer sentiment and Midwest business

Nike shares fell 9% in extended trading after the company said inventories rose 44% to $9.7 billion in the latest quarter, and higher discounts and freight costs squeezed profit margins.

Nike reported revenue of $12.7 billion, up 4% compared with a year earlier.

AMYLXX shares rose 9% in extended trading after U.S. health officials approved a drug to treat the deadly illness known as Lou Gehrig's disease.

The Food and Drug Administration approved the medication based on results from one small, mid-stage study according to The Associated Press.

The agency's internal scientists repeatedly said the company's results were not convincing. But thousands of patients have urged the FDA to be flexible and grant patients' access.

Biogen soared on Alzheimer's drug developments

More https://www.foxbusiness.com/markets/nike-shares-fall-als-drug-approved-fridays-5-things-know
Lou Gehrig’s disease has no cure and most patients die within five years of initial