Stock market for nike
NEW YORK Real Money -- The contrast couldn't be crazier.
First, you have a stock market that has its worst day in ages, driven down by worries about the consumer, with a dive in the consumer confidence figures, angst about a rapidly declining Europe and concerns that China's slowing more than the government can handle. Then after the close Nike NKE reports and it is the best Nike report ever.
NKE - Nike Stock quote - yfyrurusus.web.fc2.com
It's the triple play: There's terrific North American growth, amazing acceleration in Western Europe -- yes, acceleration -- and an astonishingly strong number in China. There were no sneaks on sale this quarter with those strong gross margins, and inventories were well under control.
NKE Stock Price - Nike Inc. Cl B Stock Quote (U.S.: NYSE) - MarketWatch
This contrast between the macro and the micro shows how hard this market has become. Go back to 3: Isn't Nike the most natural short in the book? How could you not go short it during the day, knowing the payoff that awaited you after the close?
You knew that Nike got a boost from World Cup, but that's in the past. You knew that Nike had stumbled in China as recently as last quarter, so how could Nike's business recover quickly, especially with what we know about how poorly China's now doing. Who is going to buy expensive sneakers when the economy's downshifting quickly and Russia-Ukraine tensions are rising? Stocks mixed as energy lags, health care leads.
Foot Locker and Dick's have been long-time partners with Nike. June 21 is International Yoga Day, a holiday suggested by the Indian Prime Minister Narendi Modi, to be observed each year on the summer solstice.
Jim Cramer on the Stock Market: What Nike Is Telling Us - TheStreet
Some of my favorite names have been inconsistent. What Nike Is Telling Us - Pg. Plus, the dollar's so strong you have to think there's no reason for optimism in Europe or any other venue for that matter. And the emerging markets? Yet every single area was better than expected and the outlook was even more impressive, including currencies. Now, some of this strength is just because Nike's so darned good. As unbelievably under-rated CEO Mark Parker said right upfront: When all of these components are working together, the portfolio generates amazing growth.
And the macro forces certainly seem to be overwhelming. Maybe things aren't that bad? In a cruel moment of irony, Nike admitted to two geographic weaknesses: Russia's got the world shooting against it with sanctions that are hitting home.
Israel was in a hot war for the quarter. Maybe things are more contained than we think? Two-Thirds of Americans Live Paycheck to Paycheck In the end, these are all moot questions. The market's in an ugly mood. It's not thinking as granularly. Nike will not be regarded as a proxy, because the hedge funds are swinging their positions around and hedge funds only think macro. They didn't study the conference call last night. They partied, because they've got the Fed on the run and a president who seems to want to equate Russia with ISIL, which assures a cold winter in Western Europe and, of course, because the Giants blew out the Redskins.
Action Alerts PLUS , which Cramer co-manages as a charitable trust, has no positions in the stocks mentioned. This article was originally published at 5: EDT on Real Money on Sept. What Nike Is Telling Us","contentType": What Nike Is Telling Us","smallThumbUrl": What Nike Is Telling Us","url": Action Alerts PLUS is a registered trademark of TheStreet, Inc.
You are using an outdated browser. Please upgrade your browser to improve your experience. Jim Cramer's Best Stocks for Most Recent Trade Alert. Subscribe Access insights and guidance from our Wall Street pros. Find the product that's right for you. What Nike Is Telling Us Jim Cramer. Sep 29, Prev 0 of 3 Next. Jun 21, 1: Potential Partnership Between Nike and Amazon Sends Dick's, Foot Locker Stocks Tumbling Foot Locker and Dick's have been long-time partners with Nike.
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