Commentary from Nike executives showed that despite mounting headwinds, demand isn't slowing down for the global athletic apparel leader.
With the S&P 500 Index up 14% in 2023, it has been a surprisingly good year for many of the stock market's biggest names. Despite wearing the crown as the world's largest seller of footwear and apparel, Nike's stock price is virtually in the same place today as it was five years ago. Temporarily above 6 times sales, Nike's current P/S of 2.8 is as low as it has been since 2017 -- outside of a few days during the 2020 crash.
Nike (NKE) shares close the week higher after reporting a first-quarter earnings beat. Wonder Group has reached a deal with Blue Apron (APRN) to acquire the meal kit company for $103 million. Lastly, Bank of America analysts upgrade Anheuser-Busch's (BUD) stock to a "Buy" rating. Yahoo Finance's Julie Hyman and Josh Lipton highlight several of the day's trending stocks after Friday's closing bell. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.