Nike's Sell-off: Sign Of A Market Top?

Disclosure: I own shares of NKE Business is good at Nike, according to the company’s recently released financial report: revenues up 8% to $8 billion; diluted earnings per share up 22 percent to $0.55; worldwide futures orders up 12%. And Nike management is quite pleased. “In the third quarter, NIKE delivered robust and balanced growth across our expansive, powerful portfolio,” said Mark Parker, President and CEO, NIKE, Inc. “We grow by serving the athlete personally every day and, as we unveiled last week, through breakthrough innovation that gives us a foundation for growth for years to come. Combined with our strategic investments, world-class execution and financial discipline, NIKE consistently delivers value to our shareholders.”* But Wall Street doesn’t share management’s sentiment, and sent Nike’s stock close to 5% lower in early Wednesday trade. Nike’s Key Financial Metrics as of March 23, 2016