Why Nike Stock Tumbled Today
Shares of Nike (NYSE: NKE) were heading lower today after the sportswear giant beat estimates in its fiscal second-quarter earnings report, but offered disappointing guidance, saying that revenue would decline in the third quarter after growing modestly in the first half of the fiscal year.
Nike is in the midst of a turnaround, and the guidance seemed to indicate that that will take longer than investors had hoped.
As a result, the stock was down 9.1% as of 11:00 a.m. ET.
Source Fool.com
Nike Inc. B Stock
€47.74
1.170%
With 72 Buy predictions and 1 Sell predictions Nike Inc. B is one of the favorites of our community.
As a result the target price of 70 € shows a positive potential of 46.63% compared to the current price of 47.74 € for Nike Inc. B.
