Markets
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Max Knoblauch

Bullish options activity lifts Joby and Archer as investors react to Archer’s UAE certification delay

Shares of air taxi maker Joby Aviation rose more than 5% early on Monday morning as the company received lots of love in the options market amid a Bloomberg report that rival Archer Aviation will likely not be certified for passenger flights in the UAE before next year.

According to Bloomberg, Archer’s certification review process in the UAE is taking longer than expected. The company previously said its goal date for its first passenger flight was “later this year,” but that timeline is now omitted from its website.

As of 10:15 a.m. ET, about 9,000 call options in Joby have changed hands. While Joby tends to see bullish options activity, Monday’s trading was particularly skewed toward calls with a put/call ratio of 0.14, significantly below the 10-day average ratio of 0.38.

Investors don’t appear to be taking Archer’s likely delay too hard, either. The electric vertical takeoff and landing (or eVTOL) company is up more than 2% on Monday as of 10:19 a.m. ET, with more than 28,000 call options changing hands (about 4x the number of puts).

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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