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Stocks to Watch: Nike, FedEx, Alliance Entertainment Holding, Arq

Nike Shares Rise

Nike, Inc. ( NKE) shares rose over 2% in premarket trading today after the company reported better-than-expected earnings for the fourth quarter. Nike reported earnings per share of $0.90, beating analysts' estimates of $0.87. Revenue also came in above expectations, with the company reporting $12.2 billion for the quarter, compared to analysts' estimates of $12.0 billion.

FedEx Shares Fall

FedEx Corporation ( FDX) shares fell over 4% in premarket trading today after the company reported weaker-than-expected earnings for the third quarter. FedEx reported earnings per share of $2.75, missing analysts' estimates of $2.83. Revenue also came in below expectations, with the company reporting $23.2 billion for the quarter, compared to analysts' estimates of $23.6 billion.

Alliance Entertainment Holding Shares Rise

Alliance Entertainment Holding Corp. ( AHE) shares rose over 3% in premarket trading today after the company announced a partnership with Walmart Inc. (WMT). Under the partnership, Alliance Entertainment will distribute Walmart's entertainment products to independent retailers in the United States.

Arq Shares Fall

Arq Group, Inc. ( ARQ) shares fell over 5% in premarket trading today after the company reported a wider-than-expected loss for the fourth quarter. Arq reported a loss per share of $0.15, missing analysts' estimates of a loss of $0.10. Revenue also came in below expectations, with the company reporting $12.5 million for the quarter, compared to analysts' estimates of $13.0 million.