News Snapshot:
Check out the companies making headlines in premarket trading. Nike — Shares tumbled 12.1% after the athletic retailer slashed its sales guidance and announced plans to cut costs by around $2 billion over the next three years. Nike also posted its second straight quarter of worse-than-expected revenue, which hasn't happened since 2016. Foot Locker , a notable seller of Nike products, slid 7.1%. Bristol Myers Squibb , Karuna Therapeutics — Shares of Bristol Myers Squibb slipped 1% after announcing it agreed to buy Karuna Therapeutics for $14 billion, or $330 per share. Karuna Therapeutics, which has an experimental schizophrenia drug...
