Shares of Nike (NYSE: NKE) were surging today after the sneaker king posted better-than-expected results in its fiscal first-quarter earnings report, topping modest expectations.
As of 10:32 a.m. ET, the stock was up 7.4%.
Nike's numbers weren't particularly impressive, but they came at a time when much of the global economy is struggling with inflation and consumer spending on discretionary goods has been weak in the U.S.
Source Fool.com