EDITOR’S NOTE: Sam Collins will return on Feb. 21.
Athletics icon Nike Inc (NYSE:NKE) blasted up and over its 200-day moving average on Thursday, returning to levels not seen since September and threatening to end a long downtrend that started in November 2015 and saw Nike shares lose more than a quarter of their value.
Investors have had a lot to chew on lately, with positives including stumbles by arch rival Under Armour Inc (NYSE:UAA), the announcement of prominent and separate Nike Shops in more than 600 J C Penney Company Inc (NYSE:JCP) stores and some solid quarterly numbers.
Back in December, NKE stock beat earnings by 11% on a 6% jump in revenues. Investors pooh-poohed the results as expenses were high on the strong dollar. But an impressive spate of new product innovations, including the Back to the Future inspired , reflects the company’s ongoing dominance.
The company will next report results on March 21 after the bell. Analysts are looking for earnings of 53 cents per share on revenues of $8.46 billion.
Anthony Mirhaydari is founder of the
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