Stock of the day: Nike
Shares are hitting 52-week highs as Nike investors applaud the first-quarter earnings report.
Consumer sports giant Nike (NKE) reported first-quarter earnings for fiscal year 2014 yesterday, and investors and analysts alike have cheered the news this morning. Shares are up around 5%, leading to fresh 52-week highs.
Nike managed to grow revenue by 8% to $7 billion, reporting earnings per share of $0.86. EPS grew by a staggering 37%. Gross margin increased to 44.9%, thanks in part to the direct-to-consumer segment. Analysts sat up and took notice of the better-than-expected report: Sterne Agee upgraded the stock on the news, and Deustche Bank raised its price target.
More from Top Stocks
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The solid report comes a month after the retailer closed all of its Canadian operations.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.