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Uber CEO Takes Leave, Nike Restructures, Tech Stocks Have Wild Week

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  • (0:30) - Fed Rate Hike
  • (3:00) - Uber: Travis Kalanick Takes Leave of Absence 
  • (8:40) - Nike Makes Extensive Changes
  • (12:30) - Tech Stock Sell Off
  • (18:00) - What To Expect For Tech Going Forward
  • (22:30) - Episode Roundup: Podcast@Zacks.com

On today’s episode of the Zacks Friday Finish Line, Content Writer Ryan McQueeney and Editor Maddy Johnson take on this week’s biggest stories, including the latest news from Uber, a big corporate restructuring from Nike, and a volatile stretch from tech stocks.

First, the hosts noted that, as expected, the Federal Reserve approved its second rate hike of the year on Wednesday. Interestingly enough, the hike was met with some skepticism around the markets, as a concern about slumping inflation rates is starting to spread. But investors knew this hike was coming, and there wasn’t too much of a reaction on Wall Street.

Find out more here: Gold Sees Gains Disappear as Fed Raises Interest Rates

For the first big story of the week, Maddy and Ryan talked about the latest news from Uber. In the latest chapter of its wild ride as one of the world’s most valuable private companies, Uber announced that its polarizing CEO, Travis Kalanick, will be taking a leave of absence. Kalanick’s leave was another response to the continued fallout from the company’s internal investigation into it office culture.

Read more: Uber CEO Travis Kalanick Takes Leave, Return Date Unknown

Next up, the hosts touched on some breaking news from one of the world’s most iconic brands: Nike (NKE - Free Report) . On Thursday, shares of athletic retail giant Nike slumped more than 3% after the company announced extensive business changes. These changes include a massive jobs cut and changes to apparel design structure.

Get the full details here: Nike Shares Slump on Job Cuts, Corporate Restructuring

Finally, the hosts chatted about the volatile week it has been in the technology sector. Some of the world’s largest tech companies—including the likes of Apple (AAPL - Free Report) , Microsoft (MSFT - Free Report) , and Facebook (FB - Free Report) —suffered a rare slump after investor confidence slipped.

Read one angle here: Apple Stock Dips Again: Is It Oversold?

As a reminder, if you feel that we missed something, or if you want us to cover a different story, shoot us an email at podcast@zacks.com. Make sure to check out all of our other audio content at zacks.com/podcast, and remember to subscribe and leave us a rating on iTunes.

As always, thanks for listening to this episode of the Zacks Friday Finish Line, and check back for even more news from the investment and financial world!

Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!

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