By Denny Jacob

Nike Inc.'s efforts to increase discounts on sneakers and other products lifted sales in the second quarter, but the sneaker giant signaled that more work remains in cutting its inventory levels. Shares jumped 13% in after-hours trading.

FedEx Corp.'s second-quarter results highlighted how the delivery giant continues to deal with weak demand for packages, resulting in a revised plan to cut more costs from its operations. Shares edged up 3.6% after-hours.

Calavo Growers Inc.'s revenue fell in the fourth quarter due to lower profit in its avocado division as a result of input cost pressure. Shares dived 14% in after-hours trading.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

December 20, 2022 18:33 ET (23:33 GMT)

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