Q4: 2026-03-18 Earnings Summary

EPS of $0.08 beats by $0.00

 | Revenue of $294.65M (22.71% Y/Y) beats by $1.99M

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As geopolitical tensions intensify and crude oil markets react sharply, investors are facing a complex mix of inflation risks, monetary policy uncertainty, and shifting global supply dynamics. In a conversation with ET Now, economist Jahangir Aziz from JPMorgan suggested that the current situation is far more layered than what headline indicators like Brent crude prices may imply.

Speaking on the scale of the escalation, Aziz said, “Look, it is very difficult to say how bad or how big it is going to be or how long it is going to last.” He noted that while the recent spike in oil prices reflects rising market anxiety, “the spike in the oil market clearly shows you that the market is nervous… but that is not the story.” According to him, the global oil market has become increasingly fragmented, making widely tracked benchmarks less relevant for key economies. “The oil market has been fragmented completely… Brent reflects the Atlantic Basin, but countries like China and India depend on the Middle East,” he said, adding that regional benchmarks tell a more accurate story. “Oman and Dubai prices were already above 150… and the India basket was at $145,” Aziz pointed out, concluding that “we need to stop looking at Brent… Oman and Dubai prices are what really matter for Asian economies.”

On the US Federal Reserve’s policy outlook, Aziz pushed back against expectations of easing, maintaining that his view has consistently ruled out rate cuts this year. “We did not have a rate cut in 2026 in the beginning of the year and in fact, the next move would be a rate hike in 2027,” he said. He emphasized that this assessment is rooted in labour market dynamics rather than recent geopolitical developments. “This has nothing to do with the war… it was based on US labour market dynamics,” Aziz explained. Even modest job growth, he argued, could sustain inflationary pressures. “Even a modest improvement in jobs… will push wages up and keep inflation above 2%,” he said. He also highlighted a more cautious stance from the Fed on energy-driven inflation, noting that policymakers indicated they would not look through such price increases “too likely.”

Turning to bond markets, Aziz said the more important development is not just the rise in yields but the shift in expectations reflected in the yield curve. “The market took the Fed call in a hawkish tone… and flattened the curve,” he observed, adding that “it is the flattening… rather than the move up in the 10-year rate that is the bigger story.” As inflation concerns persist and hopes for rate cuts fade, he expects this trend to continue. “As hopes of rate cuts in 2026 fade… you are going to see much more flattening,” he said. Aziz also warned that if inflation becomes entrenched, it could start affecting demand. “If inflation becomes sticky… you are going to start seeing demand destruction,” he said, adding that even the anticipation of such a slowdown could influence market pricing. “In a demand destruction environment… it is hard to see the 10-year actually blow up,” he noted.

Overall, Aziz’s assessment points to a more complex global backdrop where traditional indicators may not fully capture underlying risks. With oil markets fragmenting, inflation staying persistent, and central banks remaining cautious, investors may need to look beyond surface-level signals to navigate the evolving landscape.

Q2: 2026-03-18 Earnings Summary

EPS of $12.20 beats by $3.47

 | Revenue of $23.86B (196.29% Y/Y) beats by $4.35B

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MEMPHIS, Tenn. — Nike Basketball and Memphis Grizzlies star Ja Morant have partnered with the iconic “Jurassic Park” franchise to launch a themed sneaker pack for the Nike Ja 3, blending cinematic nostalgia with high-performance basketball design.

The collaboration, unveiled in mid-March 2026, features two distinct colorways — the “Raptor” and “Explorer” — inspired by the 1993 Steven Spielberg film and its enduring legacy. The pack draws from Morant’s personal affinity for the movie series, channeling elements like Velociraptor motifs, amber fossils and classic park branding into the signature silhouette.

The Nike Ja 3 “Raptor” (style code IU7240-001) adopts a menacing anthracite base with yellow ochre and bright crimson accents, mimicking the scaly texture and predatory vibe of the film’s raptors. Jagged overlays fade from golden yellow to dark grey, evoking dinosaur skin, while red “blood” accents on the branding add intensity. The tongue features the classic Jurassic Park logo in red, and the insoles display a duo of Velociraptors — one per shoe — that combine for a full scene when paired.

The “Explorer” (IU7240-300) pays homage to the iconic Jurassic Park tour vehicles, with a tropical-inspired palette including green and earthy tones. Details replicate the truck’s rugged aesthetic, complete with park emblems and subtle nods to the film’s adventure elements.

Both pairs include collectible extras: custom graphic insoles forming a dinosaur panorama, amber egg-shaped hangtags preserving Morant’s logo like the movie’s DNA-trapped mosquito, and special packaging that extends the theme. The design continues the narrative-driven approach that has defined the Ja 3 line since its 2025 debut, with Morant emphasizing personal storytelling in his signatures.

The pack releases Friday, April 10, 2026, at 10 a.m. ET via Nike SNKRS, Nike.com and select retailers. Pricing starts at $135 for men’s sizes, $112 for big kids (GS) and $97 for little kids (PS). Full-family sizing ensures accessibility for collectors and young fans alike.

The collaboration arrives amid a strong rollout for the Ja 3, Morant’s third signature model. Since launching in August 2025, the shoe has gained traction for its low-to-the-ground feel, responsive cushioning and bold aesthetics tailored to Morant’s explosive style. Earlier 2026 drops included playful themes and homages, but the Jurassic Park pack stands out for its scale and cultural tie-in.

Morant, sidelined at times this season due to injuries, has remained a creative force off the court. He has teased unreleased Ja 3 looks on social media, building hype for upcoming releases. The “Jurassic Park” project marks one of his most ambitious co-design efforts, blending his love for the franchise with Nike’s storytelling expertise.

Sneaker enthusiasts and film fans have reacted positively to the reveal, with early images generating buzz on platforms like Instagram and X. Commentators praise the attention to detail — from the amber hangtag to the combined insole art — as elevating the pack beyond typical athlete collabs.

The drop aligns with broader trends in basketball footwear, where narrative-driven partnerships increasingly dominate. Nike’s success with licensed IP collaborations, including past film and pop culture tie-ins, positions this pack for strong demand.

As April 10 approaches, anticipation builds for what could be one of the standout releases of 2026. For Morant, the project reinforces his influence in sneaker culture, extending his impact beyond the hardwood.