Several analysts are chiming in on Nike Inc (NYSE:NKE) this morning. Cowen and Company slashed its price target to $145 from $155, while Morgan Stanley lifted its price target to $185 from $172. Cowen cited weakening demand in China, and while Morgan Stanley also noted short-term headwinds from this dwindling demand, it said its long-term revenue, margin expansion, and earnings per share (EPS) growth story still look good. 

The equity remains flat amid all the analyst chatter, last seen up 0.2% at $130.25. The stock has been chopping lower on the charts since late January, when it hit an all-time high of $147.95. While the 200-day moving average briefly served as support on the charts, the equity breached this trendline earlier in the month, pressured lower by the 10-day moving average. In fact, the equity has settled lower during six of its last seven sessions, though it still sports a year-over-year lead of 31%. 

Analysts are generally optimistic on NKE. Of the 20 in coverage, 18 call it a "buy" or better. Plus, the 12-month consensus price target of $164.04 is a 26% premium to current levels. 

Lastly, the stock could see a short-term bounce soon, per its Relative Strength Index (RSI), which sits at 38. This indicates that the security is just on the cusp of being "oversold." 

Today will bring building permits, housing starts, the import price index, and an update from the Federal Reserve and Fed Chair Jerome Powell. 

The following public companies are slated to release quarterly earnings reports today, June 16:

Lennar Corp. (NYSE:LEN -- $92.55) operates as a homebuilder primarily under the Lennar brand in the United States. Lennar will report its Q2 earnings of 2021 before the bell today.

The following public companies released quarterly earnings reports yesterday, June 15:

H&R Block Inc. (NYSE:HRB -- $25.52) provides assisted income tax return preparation, do-it-yourself (DIY) tax, and virtual tax preparation services and products to the general public. H&R Block reported adjusted diluted earnings per share of $5.16 on revenue of $2.33 billion for the three months ended April 30.

La-Z-Boy Inc. (NYSE:LZB -- $42.49) manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products. La-Z-Boy reported earnings of $37.5 million, or 81 cents a share, in the fiscal fourth quarter, compared with $2.3 million, or 5 cents a share, in the year-ago quarter. Adjusted for one-time items, the company said it earned 87 cents a share.

Oracle Corp. (NYSE:ORCL -- $15.50) provides products and services that address enterprise information technology environments. Oracle reported quarterly revenues of $11.23 billion, a growth of 8% from the prior year. Also, it surpassed the consensus estimate of $11.04 billion..

StepStone Group Inc. (NASDAQ:STEP -- $31.64) is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. StepStone Group reported a quarterly cash dividend of $0.07 per share of Class A common stock.

Looking ahead to tomorrow, the usual initial and continuing jobless claims data are due out, as well as the Philadelphia Fed manufacturing index, and leading economic indicators. All economic dates listed here are tentative and subject to change.

Stocks are extending their pullback this week, as the Fed meeting looms over Wall Street. Among the names making notable moves today are sports betting stock DraftKings Inc (NASDAQ:DKNG), specialty retailer Petco Health and Wellness Company Inc (NASDAQ:WOOF), and crypto stock MicroStrategy Incorporated (NASDAQ:MSTR). Here's a quick look at what's moving the shares of DKNG, WOOF, and MST.   

DraftKings Hit With Scathing Hindenburg Note

Hindenburg Research dropped a bombshell this morning, disclosing a short position on DKNG. In their article, the notorious short seller demonstrated extensive research that DraftKings "systematically skirted the law and taken elaborate steps to obfuscate its black market operations." In response, DraftKings stock is down 5.1% to trade at $48.03, and earlier traded as low as $44.65.

Since a March 22 record peak of $74.38, the Special Purpose Acquisition Company (SPAC) darling of 2020 has shed 20.7% this quarter alone now. Nevertheless, keep an eye on how retail traders respond to the Hindenburg report, with a healthy 10.9% of DKNG's total available float sold short.

Petco Stock Riding the Reddit Rollercoaster

The pet retailer with the delightful ticker was last seen down 10% to trade at $25.75. This comes after a 17.9% pop yesterday thanks to a flurry of interest from Reddit forum WallStreetBets. WOOF is up 15.7% in 2021 even after today's breather. 

With the stock on the short-sale restricted list today (SSR), options trading has exploded. With under two hours left in today's trading, over 105,000 contracts have changed hands, 10 times the expected intraday amount and and volume pacing for the 100th percentile of its annual range. Leading the charge is the June 30 call, where new positions are being opened.

MicroStrategy Doubles Down on Bitcoin

The shares of MicroStrategy are up 5.3% to trade at $629.33 at last check, after the software company filed last night to sell up to $1 billion in stock to buy more Bitcoin (BTC). The volatile cryptocurrency was last seen up 3.5% at $41,217. Despite today's uptrend, MSTR is running headfirst into its 80-day moving average, a trendline that hasn't been conquered on a closing basis since mid-April.

A short squeeze could help the stock push past this resistance. Short interest is up 12% in the two most recent reporting periods, and the 1.78 million shares sold short accounts for 23.4% of MSTR's total available float.

In a U.S. Securities Exchange and Commission (SEC) filing, Intuit Inc. (NASDAQ:INTU) showed impressive year-over-year growth in its QuickBooks online service. According to the company, new customer acquisition surged by more than 25% for the nine months ended April 30.  

Intuit stock is brushing off the news, last seen down 0.6% to trade at $474.06, reversing opening gains that put it at an all-time high of $478.19. After gapping above $455 level on June 4, INTU carved out a channel of higher highs, and is now coming off a streak of five-straight record closes. The stock is still up 67% year-over-year. 

Analysts are overwhelmingly bullish on the equity. Fourteen consider the stock a "buy" or better, compared to four "hold" ratings, and not a "sell" to be seen. Plus, the 12-month consensus price target of $499.31 is a 5.1% premium to current levels. 

Options traders mirror this optimistic stance. This is per Intuit stock's 10-day call/put volume ratio of 2.39 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio stands higher than all but 4% of readings from the past 12 months, suggesting a much healthier-than-usual appetite for long calls of late. 

And now looks like the time to bet on INTU's next move with options, as they can be had for a bargain. This is according to the stock's Schaeffer's Volatility Index (SVI) of 22%, which stands higher than just 3% of readings from the past year, and means options traders are pricing in relatively low volatility expectations for the stock at the moment.