Nike beats the Street, stock pops

September 23, 2011: 3:37 PM ET
Nike

Click on the chart to see a current stock quote for Nike.

NEW YORK (CNNMoney) -- Apparently there is no recession for shoes. Sporting-goods maker Nike (NKE, Fortune 500) and footwear retailer Finish Line (FINL) 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:

montoyan: Catching up on last night's $NKE earnings call. Like to hear them calling out strength of the N.American consumer explicitly, several times.

lamonicabuzz: Sneakers! $NKE and $FINL up pre-market on earnings. Fitting since most will want to lace up & run away from this market as fast as you can.

Vinnystocktips: $NKE conference call was great. Nearly 20% growth. Some corps not doing that bad at all in this global recessionary environment.

scott_murray1: Nike not seeing the great recession-sales, earnings, orders up 15-20% $NKE $SPY $AAPL http://stks.co/KcR

vcutrader: western Europe up 14% yoy - rest of Europe up 24% yoy $NKE Sep. 22 at 1:25 PM BrianSozzi Good quarter from $FINL...but traffic to the stores was down...#economy  To top of page

Index Last Change % Change
Dow 32,627.97 -234.33 -0.71%
Nasdaq 13,215.24 99.07 0.76%
S&P 500 3,913.10 -2.36 -0.06%
Treasuries 1.73 0.00 0.12%
Data as of 6:29am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.