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66 stories mentioning NKEUpdated 4d ago

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What's the latest news on NKE?

Wire

Nike Picked Stock of the Week at Smart Insider Following Renewed Insider Buying

Nike (NKE) was named Smart Insider's stock pick of the week after insider purchases resumed following a recent decline in the share price.Smart Insider said it previously ranked the stock +1 on Dec. 24 after a $3 million share purchase by Lead Independent Director Timothy Cook at $59 per share, alongside $500,000 purchases each from directors Robert Swan and Jorgen Knudstorp.Chief Executive Elliott Hill also spent $1 million in December following the upgrade, according to Smart Insider.After reporting Q3 results on March 31, the stock has fallen about 25% since December, Smart Insider said, adding that insiders responded with additional purchases totaling about $2.7 million between April 7 and April 13 at around $43 per share.John Rogers, a director since 2018, bought $173,000 of shares in his first purchase since December 2024, according to the report. Hill acquired another $1 million of stock, Cook added $1.1 million to his holdings, and Swan purchased $500,000 of shares, Smart Insider said.Smart Insider said that while the December buying was not timely, the recent cluster of purchases is encouraging.Smart Insider renewed its +1 rating on the stock, indicating a strong positive signal.Price: $46.93, Change: $+0.45, Percent Change: +0.97%

$NKE
US Markets

Most Softline Retailers Poised to Meet or Top Quarterly Earnings Views, UBS Says

Most US softline retailers are expected to report upcoming quarterly earnings either in line or above Wall Street's estimates, while consumer spending could rise notably if the Middle East conflict ends soon, UBS Securities said Monday.A survey conducted by the brokerage during the first two weeks of this month showed that consumer spending intentions remained "good," particularly for apparel and footwear despite headwinds from the US-Israel war with Iran that started at the end of February, UBS analysts, including Jay Sole said in a note to clients."We believe the market is overestimating the negative impact of high oil prices on softline company margins," UBS said. "We see most softline companies either meeting or beating (first-quarter) expectations during this upcoming earnings season."The war, which has impacted several Middle East countries, has sent energy prices soaring amid the closure of the Strait of Hormuz, the world's most important chokepoint for crude flows.US retail gasoline prices averaged $4.042 per gallon Monday, compared with $3.151 a year ago, according to data from AAA, a travel organization that tracks fuel prices in the country."US consumers' view of the economy has been somewhat impacted (month on month) by the Middle East conflict and rising gas prices," the UBS analysts said Monday. "Yet, the data show potential for a strong pop in US consumer spending if the Middle East conflict ends soon and gas prices return to pre-conflict levels. This is a main reason we remain bullish."On Holding (ONON), Deckers Outdoor (DECK), Gildan Activewear (GIL), Burlington Stores (BURL), Levi Strauss (LEVI), Ralph Lauren (RL), and TJX (TJX) are among the softline stocks that UBS said it likes and rates as buy. The brokerage said it likes these stocks over several big names such as Nike (NKE) and Lululemon Athletica (LULU), according to the note."We believe the market is significantly underestimating the potential for (artificial intelligence) to positively impact softline companies' sales and margins," the analysts said.On Saturday, Iran took back control the Strait of Hormuz after temporarily opening the waterway to commercial vessels Friday. The US and Iran have accused each other of violating a two-week ceasefire announced April 7, leaving the situation in the Middle East in limbo.Price: $37.24, Change: $+0.29, Percent Change: +0.78%

$BURL$DECK$GIL$LEVI$LULU$NKE$ONON$RL$TJX
Research

HSBC Downgrades NIKE to Hold From Buy, Adjusts Price Target to $48 From $90

NIKE (NKE) has an average rating of overweight and mean price target of $61.18, according to analysts polled by FactSet.

$NKE
Sectors

Sector Update: Consumer Stocks Softer Late Afternoon

Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.In sector news, US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday. The main sentiment index plunged about 11% to 47.6 in April from March. That's the lowest print on record, BMO Capital Markets said in a note. Wall Street expected a 51.5 print, according to Bloomberg's poll.In corporate news, Nike (NKE) Chief Innovation Officer Tony Bignell is leaving the company after less than a year on the job, The Wall Street Journal reported. Bignell will be succeeded by Andy Caine, Nike vice president and creative director for sportswear, effective Sunday, the report said. Nike shares fell 3.4%.Nexstar Media's (NXST) $6.2 billion merger with Tegna is facing fresh hurdles after a federal judge extended the restraining order on the deal by one week to April 17 to review whether a longer preliminary injunction is needed, the Associated Press reported Friday. Nexstar shares were up 2.8%.Simply Good Foods (SMPL) shares fell 11% after Stephens downgraded the company's rating to equal-weight from overweight and cut its price target to $14 from $24.CarMax (KMX) shares rose 2.3% after it said late Thursday it plans to add William Cobb and James Kessler to its board following "constructive engagement" with activist investor Starboard Value.

$KMX$NKE$NXST$SMPL
Wire

Market Chatter: Nike's Chief Innovation Officer Leaving After Less Than a Year

Nike (NKE) Chief Innovation Officer Tony Bignell is leaving the company after less than a year on the job, The Wall Street Journal reported Friday, citing a company statement.Bignell will be succeeded by Andy Caine, Nike vice president and creative director for sportswear, effective Sunday, the company reportedly said.Nike didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $42.62, Change: $-1.38, Percent Change: -3.14%

$NKE
Wire

Nike Chief Innovation Officer Leaving After Less Than a Year, WSJ Reports

Nike Chief Innovation Officer Leaving After Less Than a Year, WSJ Reports

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