Nike (NKE) shares are popping on the back of its fiscal first quarter results. What did the athletic apparel company report that has investors snapping up the stock? Yahoo Finance's Josh Schafer breaks down the company's quarterly results and conference call. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Nike's (NKE) fiscal first quarter adjusted earnings per share of $0.94 topped analyst estimates of $0.75. Revenue slightly missed Street expectations, $12.94 billion versus the $12.99 billion estimate. Great China revenue of $1.74 billion missed estimates of $1.83 billion. Morningstar Equity Analyst David Swartz tells Yahoo Finance Live that margins were a little better than he had been expecting but that "Nike has a history of consistently beating margin expectations, so you know, I think there's a little bit of sandbagging that Nike tends to bring down expectations to make it easier to beat them." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Shares of On Holding (NYSE: ONON), the footwear company best known for its running shoes, were moving higher today in sympathy with Nike (NYSE: NKE) after the sportswear giant jumped on better-than-expected results in its fiscal first-quarter earnings report. As a result, On stock was up 6.2% as of 12:31 p.m. ET, while Nike was up by the same percentage. There was no company-specific news out regarding On Holding, but the results and comments from Nike seemed to be enough to give it a tailwind today.