Nike, Inc. (NKE) is an American multinational corporation that is engaged in the design, development, manufacturing and worldwide marketing and sales of footwear, apparel, equipment, accessories and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area. It is one of the world's largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$24.1 billion in its fiscal year 2012 (ending May 31, 2012). As of 2012, it employed more than 44,000 people worldwide. In 2014 the brand alone was valued at $19 billion, making it the most valuable brand among sports businesses. The company was founded on January 25, 1964, as Blue Ribbon Sports, by Bill Bowerman and Phil Knight, and officially became Nike, Inc. on May 30, 1971. The company takes its name from Nike, the Greek goddess of victory. Nike markets its products under its own brand, as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Blazers, Air Force 1, Nike Dunk, Air Max, Foamposite, Nike Skateboarding, and subsidiaries including Brand Jordan, Hurley International and Converse. Nike also owned Bauer Hockey (later renamed Nike Bauer) between 1995 and 2008, and previously owned Cole Haan and Umbro. In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name. Nike sponsors many high-profile athletes and sports teams around the world, with the highly recognized trademarks of "Just Do It" and the Swoosh logo.
Nike quarterly sales rise less than expected, shares drop http://finance.yahoo.com/news/nike-quarterly-sales-rise-less-203508885.html (Reuters) - Nike Inc's (NKE.N) fourth-quarter revenue rose less than analysts had estimated as a strong dollar ate into sales from some overseas markets and as it cleared excess inventory in North America. Shares of the world's largest footwear maker tumbled 6.2 percent to $49.79 in extended trading on Tuesday. Nike's revenue rose nearly 6 percent to $8.24 billion in the fourth quarter ended May 31. Analysts on average had expected revenue of $8.28 billion, according to Thomson Reuters I/B/E/S. The company, which owns the Jordan and Hurley brands, said its net income fell to $846 million from $865 million a year earlier. On a per share basis, profit was flat at 49 cents.
This was a pretty important support they just lost, but the mid $40's would be attractive if it got that low.
Reported after close today (6/28/16) Earnings: EPS $0.49 Revenue $8.24B Estimates: EPS $0.48 Revenue $8.28B Down 4.03% after hours
Nike is now below the 20, 50 and 200 ma. I had been looking at Nike for a long long term hold, and this might be a good buying opportunity. I think it's just below the weekly support of around $55 now. I wonder if $50 is achievable.
Follow recent bearish comment, now the price is approaching entry point provided that the market holds
Analyst Upgrade/Downgrade Update Brokerage firm: Oppenheimer Change: Coverage Initiated Previous Rating: N/A Current Rating: Perform Previous Price Target: N/A Current Price Target: N/A
Nike Inc. (NYSE: NKE) was downgraded to Underperform from Neutral with a $46 price target (versus a$52.02 close) at Merrill Lynch http://247wallst.com/investing/2016...ron-home-depot-nike-qualcomm-vmware-and-more/
Skechers Comeback Seen; Nike Loss To Under Armour, Adidas Could Ramp http://www.investors.com/news/skechers-comeback-seen-nike-loss-to-under-armour-adidas-could-ramp/ there's a "high probability" that Nike will trim its guidance for the second half of fiscal 2017 or guide third-quarter targets below analyst forecasts.
Sentiment is too -very with dollar strengthening. But expecting a beat and better guidance. Will get calls today.
