NEW YORK (CNNMoney) -- Apparently there is no recession for shoes. Sporting-goods maker Nike (Fortune 500) and footwear retailer Finish Line ( ) both reported better-than-expected earnings, and as a result their stocks stood tall in a dismal market environment.,
Nike reported first-quarter earnings per share of $1.36, handily exceeding analysts' estimates for $1.21. Shares of the world's biggest sporting-goods manufacturer advanced more than 6% Friday, approaching their all-time high reached in July this year.
Worldwide future orders for the Nike brand increased 16%. Sales rose 35% in emerging markets, which account for a quarter of Nike's business. Revenues from other regions grew, too: 16% in North America and 14% in Western Europe. Gross margins declined by 2.7% due to rising costs for raw materials.
Finish Line shares advanced more than 12% by noon after the footwear retailer reported a 24% increase in earnings for the second quarter.
These are some of the topic gaining interest on StockTwits this Friday:
|What we want Apple to unveil at WWDC|
|Millennials squeezed out of buying a home|
|7 traits the rich have in common|
|Big Data knows you're sick, tired and depressed|
|Your car is a giant computer - and it can be hacked|
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.64%||3.64%|
|15 yr fixed||2.76%||2.76%|
|30 yr refi||3.66%||3.69%|
|15 yr refi||2.79%||2.81%|
Today's featured rates: