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Nike (NKE) will report fiscal first-quarter earnings after the bell Tuesday, and analysts are projecting sales and profits to decline year-over-year—but calling for little upside to the stock.

The consensus price target for the sports apparel company is $89.65, according to Visible Alpha, less than 2% above Monday's close.

Of the 20 firms surveyed with current ratings, nine have Nike as a "buy" rating, according to Visible Alpha. Another nine have it as a "hold," and two have posted a "sell" rating.

Net income is projected to fall by nearly half year-over-year to about $775 million, down from $1.45 billion a year ago. The company is expected to report higher expenses due to increased advertising during the Olympics, which took place during the quarter, and a focus on developing new products.

The case for the upside, according to Deutsche Bank analysts, is that this quarter should be the bottom for Nike's sales decline before a recovery, particularly as it transitions to a new CEO in October. Here’s what you need to know ahead of Nike’s earnings report.

Nike's shares are down roughly 20% this year.

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Millennials aren't counting as heavily on Social Security checks for income in retirement as some of the older generations.

Only 6% of millennial 401(k) participants—typically those born between 1981 and 1996—expect Social Security to be their primary income source in retirement, a recent Cerulli Associates report found.

Older workers, in contrast, plan to rely more heavily on Social Security in retirement. Roughly a third (30%) of Gen X 401(k) participants, typically those born between 1965 and 1980, said their main income source will be Social Security. Meanwhile, more than half (56%) of already-retired people depend mainly on Social Security for income, with personal retirement accounts as their primary savings for only 7% of that cohort.

For many Americans, Social Security is an essential source of income in retirement—although it was never meant to be people’s primary source of income. The program currently faces a significant funding shortfall that could hurt millions of retirees. A Congressional Budget Office projection found that starting in 2034, retirees would receive just 77% of their Social Security benefits unless Congress acted before then.

While financial advisors expect some sort of congressional solution to the Social Security shortfall, they say that younger generations are taking retirement saving into their own hands.

The majority of millennials (58%) anticipated that their personal retirement accounts would be their primary income source, compared with 39% of Gen X.

“When I talk to young people, I think they have a little negativity towards the government or public programs,” said Maryanne Gucciardi, a certified financial planner (CFP) at Wealthmind Financial Planning. “I think they rely more on their own ability to fund their retirement because they’re worried that Social Security won't be there for them.”

In the past, more workers could rely on pensions, too, which have fallen out of fashion in the past few decades. Only 5% of all respondents thought that their primary source of retirement income would be pensions, compared with 46% who thought it would be personal retirement accounts.

“Nowadays, most people don't have a pension—20 or 30 years ago many more people had pensions,” Monica Dwyer, a senior vice president and wealth advisor at Harvest Financial Advisors, said. “The onus is more on the individual to make sure they are saving enough for retirement.”

Now, when financial advisors like Dwyer meet with clients who are worried about Social Security, they create projections that account for the potential 23% cut in benefits.

In order to compensate for Social Security shortfall, experts recommend saving more for retirement by working longer, reducing spending, taking advantage of retirement accounts like 401(k)s and Roth IRAs, and waiting past full retirement age to collect Social Security.

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Not only does Costco Wholesale (COST) do a good job of getting its 76 million members in the door—but, according to a new report, manages to keep them there, too.

The average Costco visit lasted 37.3 minutes for U.S. customers in the first half of 2024, according to a Monday report from Emarketer citing data from Placer.ai. That’s more than Walmart (WMT) (31.8 minutes) and Target (TGT) (28.7 minutes), according to the report. 

Costco is also the only one of the three to see its average "dwell time" for customers staying in-store increase from the first half of 2021 to the same period this year. 

One likely reason for the extended stays is that Costco frequently changes its layout, creating a "treasure hunt" experience for customers. The membership-based retailer isn’t alone in changing things up, but it is notorious for rotating its stock of items.

In general, grocery stores are often known to stock essentials, like bread, milk, and eggs near the back of the store so customers have to walk all the way through to find them. 

Costco had 76 million members at the end of its most recent quarter, but starting Sept. 1 those members are paying more. After the retailer raised its membership price for the first time in seven years, executives said on an earnings call last week that they haven't seen any meaningful changes to renewal trends in the first month.

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A highly anticipated report on the job market Friday could show unemployment rising, potentially influencing how fast and how far the Federal Reserve will cut borrowing costs in the coming months.The Bureau of Labor Statistics’ report on jobs in September Friday is expected to show the unemployment rate holding steady at 4.2%, the same as in August, according to a survey of forecasters by and . The median forecast called for the economy to have added 144,000 jobs, up from 142,000 in August.Some forecasters called for the unemployment rate to tick up to 4.3%, matching its July level. That increase, if it comes, would likely be due to more people looking for work and not finding it rather than more people being laid off, Nancy Vanden Houten, lead U.S. economist at Oxford Economics, wrote in a commentary.

Reports on the labor force have taken on new significance in recent months as the formerly hot job market has lost some steam under pressure from the high borrowing costs for all kinds of loans over the past two years. 

While there are no signs of mass layoffs yet, employers have pulled back on job openings, and the unemployment rate has ticked up to typical pre-pandemic levels. Officials at the Federal Reserve began a campaign of rate cuts this month aimed at bolstering the economy and keeping the labor market healthy as their attention shifts from fighting inflation to preventing job losses. 

The fewer jobs the economy adds, and the higher the unemployment rate goes, the more pressure Fed officials will be under to cut rates faster, which would reduce borrowing costs for mortgages, auto loans, and credit cards. 

The Fed is widely expected to cut its benchmark fed funds rate again when it next meets in September. Financial markets are currently betting the central bank will slice either .5 or .25 percentage points from the current range of 4.75% to 5%. The Fed started its rate cuts with a .5 percentage point (or 50 basis points, also known as bp) reduction in September and could repeat that move depending on how the job market does in September and October. 

“We think a September jobs report in line with our forecast would be consistent with our view that after a 50bp rate cut earlier this month, the Federal Reserve can continue with rate cuts at a more measured pace, although we see the risks tilted toward a more aggressive pace of lowering rates,” Vanden Houten wrote in a commentary.Forecasters are also looking ahead to October’s jobs report, which could prove even more consequential, especially if highly publicized labor disputes at Boeing and at ports on the East and Gulf coasts result in strikes. 

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CVS Health (CVS) shares rose Monday on a report that major investor hedge fund Glenview Capital Management was planning to hold a meeting today with executives of the pharmacy and health care firm about making changes to its operations.

said the move could potentially be the start of an activist investor intervention against CVS, which has struggled because of higher expenses, lower reimbursements, and changing consumer habits. Shares of CVS rose nearly 3% Monday afternoon, making them the best performers in the S&P 500, but have lost about 20% of their value this year.

In August, CVS slashed its full-year earnings outlook, and Chief Executive Officer (CEO) Karen Lynch announced a $2 billion cost-cutting plan by "further streamlining and optimizing our operations and processes, continuing to rationalize our business portfolio and accelerating the use of artificial intelligence and automation."

The also reported that as part of that effort, CVS advised employees today that it would be implementing layoffs, representing less than 1% of the workforce.

The paper noted that Glenview, which was founded by CEO Larry Robbins, has about $700 million of its $2.5 billion fund invested in CVS, and holds approximately a 1% stake. It added that the large position is an indication that Robbins believes in the company's potential and is confident he can get the leadership to change course. 

When reached by a spokesperson for CVS neither confirmed nor denied the report, saying only that the company "maintains a regular dialogue with the investment community as part of our robust shareholder and analyst engagement program."

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Verizon Communications (VZ) struck a $3.3 billion lease agreement with Vertical Bridge, the largest private owner and operator of broadband towers in the country.

Verizon said Vertical Bridge would obtain exclusive rights “to lease, operate and manage 6,339 wireless communications towers across all 50 states and Washington, D.C. from subsidiaries of Verizon.” It added that the transaction includes upfront proceeds of about $2.8 billion.

The deal provides for a 10-year lease back capacity on the towers, with Verizon as the anchor tenant, and that arrangement could be extended to 50 years. As part of the deal, Verizon will get access to additional space on the towers for its future use, subject to certain restrictions. 

The company said the move was part of Verizon’s efforts “to drive down tower-related costs and provide greater vendor diversity in a concentrated industry.”

The transaction is expected to close by the end of this year.

Shares of Verizon edged 0.1% higher in intraday trading Monday. They've gained about 19% since the start of the year.

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