Zoom Mixed, Dick's Sporting Goods Plummets, Navitas Rallies After $233 Million Claros Deal

On this episode of Stock Movers:

-Zoom (ZM) shares are mixed. Zoom Communications sales are expected to have risen 4.2%, with phone, customer experience and AI monetization augmenting the mature meetings core, Bloomberg Intelligence said. The company’s main growth engine, Enterprise, could gain 6% “fueled by larger, longer-term platform deals, midteens annual recurring revenue growth in Zoom Phone and up-market gains,” BI added.

-Dick's Sporting Goods (DKS) shares plummet. Dick’s Sporting Goods Inc. sank after the Foot Locker chain it acquired last year continued to struggle, raising doubts about the broader sneaker market. The company now expects net sales to be in a range of $21.9 billion to $22.2 billion in the current fiscal year, down from its previous forecast.

-Navitas (NVTS) shares rise after the company announced a definitive agreement to acquire Claros Inc. The transaction is valued at up to about $233 million, based on the per share closing price of Navitas’ stock on Aug. 21, according to a company statement. The deal is comprised of about $216 million to be paid at closing in a combination of cash and shares of the Company’s Class A common stock.

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