I took a position at $52. Technicals are attractive with support in the $49 range. Will cut losses of support is broken. Expecting 5-10%
Nike may have beat on EPS but NA increasingly worse, margin still bad and China just isn’t enough at this point
Adidas showed a beautiful income statement in 2017, it sales growth was about 14.8% while Nike was about negative 3%. Why this happened? As we know, footwear industry should pay more intention to what consumers need in the coming year, otherwise, it will be easy to lose a portion of its market share. Can Nike takeover the lost market share form Adidas? I think it is hard, because Nike faces intense competition in both domestic and international markets from local as well as established players. The athletic footwear and apparel industry is characterized by rapidly changing customer preferences and technology, which requires continuous innovation in order to stay ahead of trends and competitors.
Amid an internal investigation into inappropriate workplace behavior at the company, four more executives have departed Nike. That makes it 10 who have exited the company thanks to the probe. Among today's group is the first woman to leave - Helen Kim, VP and general manager of Nike East, North America. "employees are concerned about whether Nike has the leadership to “execute its aggressive business strategy.” https://www.thedailybeast.com/four-more-nike-execs-leave-amid-harassment-discrimination-probe
I would not over complicate things here. Looking for a continuation of trend from the previous highs on a trade above the first fib extension -- $75.23. It clears that level, its got enough backing for a move into the 80s.
Nike (NKE): Just Doing It on Earnings for Six Years Sep 24, 2018 Nike (NKE) has been a beast lately. Since launching its new Colin Kaepernick campaign in conjunction with the start of the 2018 NFL season earlier this month, the stock has added $6 billion in market cap, traded to new all-time highs, and now leads the Dow 30 in year-to-date performance. This weekend Nike got another boost when Tiger Woods — maybe the most well-known athlete in the world and forever linked with Nike — won his first PGA Tour event in five years. Seriously, the company is on a roll. Nike (NKE) likely won’t be making any big sports news on Tuesday, but investors will get to see how good of a quarter the company had when it releases earnings results after the close tomorrow. Historically, Nike has been a beast on earnings as well. Our Interactive Earnings Screener lets users pull up historical quarterly earnings results for any company dating all the way back to 2001. (Be sure to check out the Screener at some point if you have yet to do so.) Below is a snapshot of Nike’s quarterly results from our Screener dating back to June 2012. Highlighted in yellow in the snapshot below is the difference between Nike’s actual EPS number and its consensus analyst EPS estimate. As shown, Nike (NKE) has beaten earnings estimates for 24 consecutive quarters (6 years) dating back to September 2012! The last time Nike missed earnings was in June 2012. Back then, Colin Kaepernick was one year into his NFL career as Alex Smith’s back-up in San Francisco. Later that year Kaepernick would go on to replace an injured Smith in week 10, sparking a QB controversy under Coach Jim Harbaugh that ultimately led to Kaepernick keeping the job and taking the 49ers to Super Bowl 47 where they lost to the Baltimore Ravens. On June 28th, 2012 when Nike last missed EPS estimates, Tiger Woods was beginning play in the AT&T National at Congressional in Bethesda, MD — a tournament he would go on to win by 2 strokes ahead of Bo Van Pelt. It was Tiger’s 3rd and final PGA Tour win of 2012 after going win-less since 2009 when his affair allegations first broke. While Nike has managed to beat EPS estimates for 24 consecutive quarters, the company has only beaten revenue estimates 15 out of its last 24 quarters. The revenue misses have not impacted stock performance in reaction to earnings by much, however. Over Nike’s last 24 earnings reports, the stock has averaged a one-day gain of 2.11% on its earnings reaction days with positive returns posted 58% of the time. Over the same time frame, we’ve seen more than 64,000 quarterly reports across the US stock market, and the average stock has gained 0.01% on its earnings reaction day.
I love big sell offs like we had because you get to see which stocks tend to hold up better than others. Over the past week, NKE is one of the names that is closing higher than its peers.
NKE off the AM LOD, but that was a freak incident with Zion Williamson's shoe literally blowing out last night...I was watching that live too. Glad to hear the injury wasn't as bad as was originally feared. That guy has some talent, and will be a force to be reckoned with in the NBA. NKE's been flying high so perhaps a little excuse to back off the highs for now.
Oh yeah what a freak incident it was, I am glad that it sounds like he suffered a relatively minor injury, probably the most exciting basketball prospect after LeBron James came to the NBA. I was also thinking there is a possibility that NKE stock would get hit today. Looks like it hit the stock a little bit but not too bad
Nike (NKE) Ready to Jump On Earnings? Tue, Sep 24, 2019 After the bell today, Nike (NKE) is scheduled to report third-quarter results. The stock has been pretty flat over the past six months swinging between ~$89 and ~$76, although, it has put in a series of higher lows since the start of 2019. Earlier this month marked yet another failed attempt (third time testing these levels) of NKE to break out, but over the past few weeks since that test of resistance, the stock has been coiling not far off these levels. All of this is in the context of a longer-term uptrend over the past couple of years, which means a solid earnings report could be just the catalyst needed to send the stock to new highs. NKE is forecasted to report EPS of 71 cents and revenues of $10.4 billion. If the company meets these top-line estimates, it would be a record sales figure, representing a 4.88% growth rate YoY. In regards to EPS though, NKE is coming off of a disappointing quarter. Looking at the past several years of earnings data for NKE in our Earnings Explorer, after 27 consecutive quarters with an EPS beat, the company missed estimates by 4 cents back in June. Despite this, the stock price did not see any excessively negative reaction. In fact, NKE traded up 0.35% on its earnings reaction day which is not necessarily unusual as the stock's price reaction to earnings has historically held a positive bias. On average, NKE has finished the day after earnings higher by 1.55% and has been positive 63% of the time.
