Nike (NKE): Shares popping from bullish 'flag' pattern

Filed under: Earnings reports, Analyst upgrades and downgrades, NIKE, Inc'B' (NKE), Technical Analysis, Stocks to Buy

Nike Inc. (NYSE: NKE) is a leading designer, marketer and distributor of athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly owned subsidiaries include Converse (athletic footwear, apparel, accessories), Cole Haan Holdings (luxury shoes, handbags, accessories, coats), Umbro (UK soccer brand) and Hurley International (action sports footwear, apparel, accessories). The firm is the world's #1 shoemaker. Its products are sold throughout the US and in more than 180 other countries.

The company pleased investors last month, when it reported fiscal Q3 EPS of 92 cents and revenues of $4.5 billion. Analysts had been expecting 81 cents and $4.3 billion. Revenue grew 20 percent or more in overseas markets, with particular strength in Asia and Europe. Company officials said Nike had already hit its goal of more than $1 billion in annual sales in China. McAdams, Wright, Ragen and UBS subsequently reiterated "buy" ratings on the stock.

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