On your mark, get set. Go!
Shares of Nike (NKE) jumped 5% Friday morning, after the company's second quarter results topped analysts' expectations.
Nike said late Thursday that earnings rose 11% on sales of $6 billion in the quarter, driven by surprisingly strong demand in North America.
The company also said future orders for Nike footwear and apparel were up 14% in North America. These orders would be delivered in the December to April period.
Investors cheered Nike's performance in the United States and Canada -- two markets that are considered mature and usually have less potential for growth.
The rebound in North America could help Nike offset continued weakness in China, where sales fell 11% in the quarter, according to traders on StockTwits.
Assuming China avoids a hard landing, Nike should be able to cash in on robust growth in the world's second largest economy.
Nike announced a two-for-one stock split in November, the sixth in its history. The stock now trades above $100 a share.
Other traders pointed to Nike's global footprint, saying the stock is relatively cheap for such a well known brand.
Are large furry boots no longer in fashion? Seems that way for investors at least.
Shares of Deckers Outdoors Corp. (DECK), the maker of the UGG line of footwear, have been trampled underfoot (of all the Led Zeppelin songs to use in the opening ceremonies for the London Olympics, Danny Boyle chose that one?) the past few days. The stock was down 8% Wednesday afternoon and has fallen more than 17% MOREPaul R. La Monica - Sep 19, 2012 12:36 PM ET
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