Stocks on the Move: Canada Goose down on decline in traffic due to virus; NIO trading lower on Q2 earnings miss

Yahoo Finance's On the Move panel break down today's 'Stocks on the Move': Canada Goose and NIO.

Video Transcript

JULIE HYMAN: Before we go to break, I want to bring you news on a couple of movers here. Canada Goose reported its earnings. And the shares are down by about 3 and 1/2% today.

The company's 21 of its 22 retail stores have reopened. But the company says traffic is considerably lower than a year earlier. And it forecast a, quote unquote, significant decline in revenue this quarter after sales fell 63% last quarter on a year-over-year basis.

We also are watching, as we frequently do, the Chinese electric vehicle maker NIO. Those shares are down about 2 and 1/2%. In the premarket they traded at a record after their second-quarter loss was half the size of what analysts had predicted and revenue more than doubled.

Deliveries, excuse me, were at a quarterly record of more than 10,000. They expect further increases there. But they could not maintain that record stock price that they hit in the premarket. And shares are now trading lower.