19.12.2014 - Nike stock is falling on the background of a weak forecast
Nike Corporation announced sales growth of 15% in the quarter, which ended in November, exceeding analysts' forecasts. The company's revenues totaled 7.38 billion dollars against 7.15 billion expected. Broad growth was observed in all regions. Given the fact that the quotation of the company has reached a level close to the target $ 100 per share and forecast sales growth of 7% till April 2015which is 4% worse than analysts' expectations, we recommend selling shares to take profits on the stock and re-open long positions after decrease.