Credit Suisse: Nike Should Deliver Over Long-Term

6/26 - "The stock is down about 10% today as investors were spooked by aggressive SG&A spending surrounding the European soccer championship, the Olympics, the Sparq training launch, and investments in retail infrastructure. They were also concerned about the company's US market growth prospects.

Credit Suisse understands the worries and lowered their FY09 EPS estimate, but thinks investors aren't looking long-term:

'While Nike's strategy of spending more to grow more may turn off investors looking for instant gratification, we think the company's philosophy of underinvesting in mature markets and overinvesting in emerging markets will pay huge dividends in the long-run.'