What's Going On With Nike Shares?
Portfolio Pulse from Henry Khederian
Nike Inc's shares are trading lower after Dick's Sporting Goods, a major customer of Nike, lowered its guidance. This could potentially lead to lower orders from Nike, affecting its revenue and earnings. Dick's Q2 sales grew 3.6% Y/Y to $3.22 billion, missing the analyst consensus of $3.23 billion. Nike has a 52-week high of $131.31 and a 52-week low of $82.22.
August 22, 2023 | 1:37 pm
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Nike's shares are trading lower due to potential lower orders from Dick's Sporting Goods, which could affect Nike's revenue and earnings.
Dick's Sporting Goods, a major customer of Nike, has lowered its guidance. This could lead to lower orders from Nike, which would affect its revenue and earnings. This has led to a negative market reaction, with Nike's shares trading lower.
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IMPORTANCE 80
RELEVANCE 100