Nike Inc (NYSE: NKE) has had a turbulent 2024 but the coming year is unlikely to be particularly kind to the world’s largest sportswear brand either, according to Wall Street analysts.

Shares of the footwear and apparel company are on track to closing this year with a more than 25% decline due to a series of strategic errors.

Nike promoted Elliot Hill – an industry veteran to the role of its chief executive, tasked with orchestrating a turnaround in October.

But experts remain convinced that it will take more than a year for the company to meaningfully recover.   

How long will it take for Nike to return to growth?

Nike recorded better-than-expected results for its second financial quarter last week that marked the start of its long overdue turnaround, as per Stacey Widlitz of SW Retail Advisors.

Stacey continues to see Nike as a quality name and expects the company to return to growth once it reinvigorates focus on innovation.

“But it’s going to be a long-term, painful process,” she added in a recent interview.

A big mistake that Nike made was trimming its alliance with wholesale partners, including Dick’s Sporting Goods and Foot Locker, in a bid to boost its direct-to-consumer sales, according to Widlitz.

“When you pull back from that channel and withhold some of your best and newest product, someone else comes in and fills those shelves” – and that someone in this case proved to be Hoka and On Running, she argued.

Nike’s store and online sales were down 13% on a year-over-year basis in Q2.

Nike CEO is fully committed to a turnaround

CEO Elliot Hill has already committed to building back trust with the wholesale partners.

“We’ll actively support mutually profitable sell-through. Simply put, we’ll win when our partners win,” he said on the company’s latest earnings call.

He has also disclosed plans of strengthening focus on innovation and sports – a lack of which has meaningfully contributed to Nike losing its mojo, according to experts.

But again, analysts are not entirely convinced that his turnaround plan will help Nike stock fully recover by the end of 2025.

Is Nike stock worth buying for 2025?

Following the earnings call last week, Telsey Advisory downgraded Nike shares to market perform.

Its analysts expect the potential turnaround to “take longer to execute, require greater investments in brand marketing, and result in lower sales and profitability over the next 12 months.”

They now find NKE as fairly valued at about $80 – only slightly above its current price of $77.

Nonetheless, Nike stock pays a dividend yield of 2.09% at writing.

So, its investors do have at least some incentive to wait for the new management to make good on its promise of a significant turnaround.

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Every year, as the holiday season rolls around, families gather to watch cherished Christmas movies – It’s a Wonderful Life, Miracle on 34th Street, Home Alone, and Love Actually.

Yet, one film that consistently divides opinion is Die Hard. The 1988 action-thriller starring Bruce Willis has earned a spot on many festive playlists, but the question lingers – is it truly a Christmas movie?

Die Hard: The unconventional holiday classic

Die Hard tells the story of NYPD officer John McClane (Bruce Willis), who arrives in Los Angeles on Christmas Eve to reconnect with his estranged wife at her company’s holiday party.

The festive atmosphere turns chaotic when a group of terrorists, led by Hans Gruber (Alan Rickman), seizes the building and takes hostages. McClane becomes the unlikely hero, taking on the terrorists to save his wife and other partygoers.

Though the film was released in July 1988 in the United States, many viewers argue that its Christmas Eve setting, holiday references, and festive soundtrack place it firmly within the holiday movie category.

Others, however, dismiss it as a straightforward action film that happens to take place during the holiday season.

Robert Davi’s evolving perspective on Die Hard

One voice that has added weight to the debate is Robert Davi, who played FBI agent Big Johnson in the film. Initially skeptical about the film’s holiday credentials, Davi has since reconsidered his stance.

In an interview with The Mirror, Davi admitted, “When I first was doing it, I didn’t think it was a Christmas movie in 1988. But it absolutely has been. It’s set during Christmas. It’s become a Christmas film – many people’s favorite Christmas film.”

Davi pointed to the film’s re-release in theaters during the Christmas season as evidence of its enduring association with the holidays.

Cultural impact and festive re-evaluation

Despite its action-heavy narrative, Die Hard features numerous holiday elements that fans highlight to support its status as a Christmas movie.

The soundtrack includes seasonal songs like “Let It Snow! Let It Snow! Let It Snow!” and “Christmas in Hollis” by Run-D.M.C.

Christmas trees, decorations, and dialogue referencing the holiday season appear throughout the film.

One iconic moment that solidified Die Hard’s Christmas status for fans is McClane’s use of festive tape to secure a gun to his back, culminating in his famous line:

Now I have a machine gun. Ho-ho-ho.

Director and star offer differing views

The film’s director, John McTiernan, has also weighed in on the debate.

Speaking to the American Film Institute (AFI) in 2020, McTiernan revealed that although the film wasn’t initially intended as a Christmas movie, its reception transformed it into one.

“The joy that came from it is what turned it into a Christmas movie,” McTiernan said, suggesting that the audience’s perception plays a vital role in defining the film’s identity.

Bruce Willis, however, remains steadfast in his belief that Die Hard should not be classified as a Christmas movie.

During Comedy Central’s 2018 Roast of Bruce Willis, the actor declared, “Die Hard is not a Christmas movie. It’s a goddamn Bruce Willis movie.”

Audience interpretation and the subjective nature of genre

The Die Hard debate underscores the subjective nature of genre classification.

For many viewers, a Christmas movie is any film that evokes a holiday spirit or is watched as part of annual holiday traditions.

By this definition, Die Hard qualifies based on its Christmas setting and recurring holiday themes.

Others argue that Christmas movies must centre around themes of family, love, redemption, and the magic of the season.

Films like A Christmas Carol and Elf embody these qualities, whereas Die Hard leans more heavily into suspense, violence, and action.

What makes a Christmas movie?

The broader debate over Die Hard reflects larger questions about how movies are categorised.

Genre labels often blur, with many films transcending their initial classifications.

For instance, The Nightmare Before Christmas straddles the line between Halloween and Christmas, while Gremlins similarly blends horror and holiday cheer.

Critics of rigid genre definitions argue that audience experience should be the primary factor in determining a film’s identity.

For some, Die Hard embodies the holiday spirit through its narrative of perseverance, reconciliation, and unexpected heroism.

The role of tradition in shaping perception

For many families, Die Hard has become an annual Christmas Eve tradition.

Much like The Lord of the Rings or Harry Potter marathons during the holiday season, the association is less about thematic content and more about shared experiences and rituals.

Social media fuels this tradition, with fans posting memes, quotes, and watch party announcements each December.

Die Hard merchandise, including advent calendars and Christmas ornaments featuring Hans Gruber’s infamous fall from Nakatomi Plaza, reinforces its place in holiday pop culture.

The case against Die Hard as a Christmas movie

Despite strong arguments in favour of Die Hard’s Christmas credentials, detractors emphasise the film’s core identity as an action movie.

They point out that while the story unfolds during Christmas, the holiday setting is incidental rather than integral to the plot.

Film purists contend that Die Hard lacks the emotional warmth and moral lessons typically associated with holiday classics.

Unlike It’s a Wonderful Life, which focuses on community, empathy, and second chances, Die Hard centers on shootouts and explosions.

A debate with no clear resolution

As Die Hard approaches its 36th anniversary, the debate over its status as a Christmas movie shows no signs of fading.

Whether viewed as a holiday classic or simply an adrenaline-fueled action flick, the film’s enduring popularity speaks for itself.

Ultimately, the answer may lie in the eye of the beholder.

For those who cherish Die Hard as part of their holiday traditions, it will always be a Christmas movie – and for those who disagree, the season offers no shortage of alternatives.

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Apple (AAPL) has taken a significant step in the ongoing antitrust saga surrounding Google’s search engine dominance, requesting to participate in the upcoming US trial.

This move underscores the iPhone maker’s concern about its revenue-sharing agreements with Google, which generate billions of dollars annually by making Google the default search engine on Apple’s Safari browser.

Protecting billions: Apple’s strategic move amidst antitrust scrutiny

Apple’s decision to intervene in the trial highlights the company’s reliance on its current arrangement with Google, which resulted in an estimated $20 billion in revenue for Apple in 2022 alone.

In court papers filed in Washington on Monday, Apple’s lawyers asserted that they cannot rely solely on Google to defend these agreements, given the Department of Justice’s efforts to potentially break up Google’s business units.

These agreements have come under intense scrutiny as the Department of Justice (DOJ) seeks to demonstrate how Google’s dominance is potentially anticompetitive.

Apple’s focus remains on partnerships

Despite the high stakes, Apple’s legal team clarified that the company has no plans to develop its own search engine to compete with Google, regardless of the outcome of the trial, or the future of these payments, as per a Reuters report.

Rather, Apple’s intervention appears designed to safeguard the current revenue-sharing model, which is a key source of income for the company, and its role in the digital ecosystem.

Antitrust trial: a landmark case with broad implications

The upcoming trial represents a landmark case that has the potential to reshape how users access information online.

Apple’s intervention is a strategic one, demonstrating that it wants to have a say in any potential outcome that might impact its operations.

Prosecutors will aim to prove that Google must take certain measures to promote competition, potentially including the sale of its Chrome web browser and possibly its Android operating system.

By participating in the trial, Apple seeks to ensure its perspective is also heard, and that its financial interests are properly protected.

Google’s response

Google has already proposed to make changes to its default agreements with browser developers, mobile-device manufacturers, and wireless carriers.

However, the company has emphasized that they will not end their revenue-sharing agreements with these partners.

A spokesperson for Google declined to comment on Tuesday.

This indicates that Google intends to continue operating with a business model that ensures they maintain a dominant position in the search engine market.

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Markets across Asia were closed for the Christmas holiday.

Australia, Hong Kong, India, and so on have scheduled trading holidays for Wednesday.

However, markets in Japan, China, and Taiwan were open.

Japan’s Nikkei 225 saw a slight decline during the trading session, reflecting muted investor sentiment.

Konami, Rakuten, and Fuji Electric suffered the steepest decline on the Nikkei, with shares falling over 2%.

Giants like Suzuki and Yamaha also saw dips, adding to the overall market weakness.

On the flip side, Nissan Motor surged ahead with an over 8% gain.

Toyota and Nippon Steel were also in the green.

Taiwan’s Weighted Index gained 0.62%, signaling positive momentum in that market.

Meanwhile, China’s Shanghai Composite Index traded in the red.

The CSI 300 index was also in the red on Wednesday.

Globally, trading volumes remained thin as several markets were closed for the festive season, leading to subdued investor activity.

Wall Street sees signs of Santa rally

US stocks rallied sharply in a truncated Christmas Eve session, continuing their upward momentum for a third straight session.

The major indices closed at their session highs, with the Dow Jones Industrial Average rising 390.08 points, or 0.9% to 43,297.03.

The tech-heavy Nasdaq Composite surged 266.24 points, or 1.4%, to 20,031.13, while the S&P 500 gained 65.97 points, or 1.1%, to end at 6,040.04.

The rally was driven by bargain hunting following last week’s sell-off, which had pushed the Dow and S&P 500 to one-month lows.

Optimism about the broader market outlook, despite the Federal Reserve signaling fewer rate cuts than previously anticipated in 2025, also fueled the gains.

Below-average trading volumes likely exaggerated the upward moves, as many traders stayed away from their desks ahead of the Christmas holiday.

Markets also closed earlier than usual, further limiting participation.

A quiet economic calendar contributed to the light trading day, with key data such as durable goods orders and new home sales released earlier in the week after an executive order from President Joe Biden closed federal offices for Christmas Eve.

The New York Stock Exchange closed early at 1 pm ET on Christmas Eve, while the bond market followed suit at 2 pm.

Both markets will remain closed on Wednesday in observance of Christmas Day.

The S&P 500 turned positive for the month, posting a modest 0.1% gain following this week’s advances.

The Nasdaq has led the charge in December, rallying 4.2%.

Notable contributors include Alphabet, which is up 16%, Apple with a nearly 9% gain, and Tesla, which has surged approximately 34% month-to-date.

Meanwhile, the Dow Jones Industrial Average lags behind, down 3.6% in December, on track for its worst monthly performance since April.

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India’s defence stocks have had an interesting year.

After a great start to the year leading up to India’s budget presentation, many stocks saw great resistance in the second half of 2024.

However, Phillip Capital analysts in the latest research highlighted the defence sector as a compelling investment theme driven by multiple growth levers and long-term execution visibility.

They emphasised factors such as robust order books, localization, government support, and favourable policies as key enablers for the sector’s growth.

The brokerage firm remains positive on defence stocks with a favorable risk-reward profile, including Bharat Electronics, Hindustan Aeronautics, and Data Patterns.

Phillip Capital analysts underscored the sector’s resilience, stating that core defence product margins are expected to expand due to operational efficiencies and indigenization efforts.

The brokerage firm said that India’s growing defence exports, which surged by 46% between FY17 and FY24, reaching ₹211 billion in FY24, with a target of ₹300 billion by FY25.

However, they flagged continued dependency on imports, which accounts for approximately 35% of India’s defence procurements. This dependency, the analysts argued, underscores a significant opportunity for import substitution.

Indian defence stocks to watch

Bharat Electronics
Target Price: ₹390
Rating: Buy

The target reflects an around 33% upside from the stock’s last closing price.

The analysts emphasised BHE’s dominance in the defence electronics segment, with a 60% market share.

Its ₹759 billion order backlog and ₹800 billion pipeline provide strong revenue visibility.

Over FY24-27, the brokerage estimates revenue, EBITDA, and PAT CAGRs at 18%, 20%, and 20%, respectively.

Hindustan Aeronautics
Target Price: ₹5,500
Rating: Buy

The target reflects an around 30% upside from the stock’s last closing price.

Phillip Capital analysts highlighted HAL’s pivotal role in India’s defence modernization, noting catalysts such as the induction of the Light Combat Aircraft (LCA) Mk1A and the GE F414 engine-manufacturing agreement.

Long-term growth prospects include diversification into commercial aircraft MRO in partnership with Airbus.

Revenue, EBITDA, and PAT CAGRs are projected at 18%, 12%, and 12%, respectively, over FY24-27.

Data Patterns
Target Price: ₹3,400
Rating: Buy

The biggest upside is seen in the small-cap stock.

The target indicates an around 36% upside from the stock’s last closing price.

The brokerage noted DP’s vertical integration and expertise in defence electronics, particularly in radars and sub-systems.

While earnings growth is expected to moderate to 26% over FY24-27 from 48% during FY21-24, the analysts believe its scalability and innovation justify premium valuations.

Solar Industries
Target Price: ₹12,000
Rating: Neutral

The target indicates an around 18% upside from the stock’s last closing price.

Phillip Capital analysts highlighted SOIL’s dominance in industrial explosives and diversification into integrated weapon systems.

Despite robust domestic and global demand, the analysts maintained a Neutral stance due to valuation concerns.

Revenue, EBITDA, and PAT CAGRs were forecasted at 26%, 31%, and 30%, respectively, over FY24-27.

Bharat Dynamics
Target Price: ₹1,400
Rating: Neutral

The target reflects an around 15% upside from the stock’s last closing price.

The analysts pointed to BDL’s leadership in missile manufacturing, supported by a robust ₹194 billion order book and significant opportunities worth ₹300 billion in the next 3-5 years.

However, they believe current valuations largely reflect these positives.

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