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Why Nike Stock Surged Today

TheMotleyFool

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Shares of Nike (NYSE: NKE) were soaring today after the sportswear giant smashed estimates in its fourth-quarter earnings report and offered guidance that was better than analysts expected. The report showed Nike executing effectively across all its categories and geographies, strengthening its lead in the sneaker and sportswear market.

The stock was up 13.4% as of 10:17 a.m. EDT, a huge gain for a blue chip stock like Nike.

Image source: Nike.

Source Fool.com

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