Decentralized storage protocol Storj files for Chapter 11 reorganization, operations remain normal

October 6th - ** Sportswear company Nike (NKE.N) saw its stock price drop about 1% in pre-market trading, quoted at $33.58 ** Berenberg Bank downgraded the stock from "buy" to "sell", cutting the target price from $49 to $27.50 ** Analyst Nick Anderson stated, "Nike seems to have accepted its declining position in sportswear," noting that the company plans to restructure its sportswear business around smaller business segments, which is interpreted as an acknowledgment that the market structure has "irreversibly" shifted against Nike ** The bank expects revenues to come under pressure until fiscal year 2028, management appears exhausted, and the “Pace” restructuring plan is unlikely to provide substantial help before fiscal year 2029; additionally, a recovery in the Chinese market is “far from guaranteed” ** Before this downgrade, S&P Global already lowered (link) its stock rating from "A+" to "A" this Monday and gave a "negative outlook," stating the company’s turnaround efforts (link) will require more time and higher investment ** Among 44 brokerages, 11 rate the stock as "buy" or higher, 25 as "hold," and 8 as "sell" or below; the median target price is $34.90—data compiled by London Stock Exchange Group (LSEG) ** As of the previous trading day's close, the stock had fallen about 47% year-to-date.

Retension Pharmaceuticals (RTSN.US) announced the terms of its initial public offering (IPO) on Monday.