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NIKE shares spiked after online sales grew 82%

Nike shares surged more than 13% after the sports giant reported better than expected quarterly results on Tuesday. Meanwhile, apparel maker revenue slipped 0.6% to $10.59 billion from $10.66 billion a year earlier.

NIKE shares spiked after online sales grew 82%

Nike shares surged more than 13% after the sports giant reported better than expected quarterly results on Tuesday. Meanwhile, apparel maker revenue slipped 0.6% to $10.59 billion from $10.66 billion a year earlier but better than the $9.15 billion forecast by analysts. The company said its "Nike Brand" digital sales grew 82% during the quarter, including triple-digit growth in Europe, the Middle East and Africa. Overall, revenue has returned to growth in Europe, Middle East, Africa, and China.

  • Earnings per share (EPS) $.95 vs. $.47 expected

  • Revenue $10.59 billion vs. $9.15 billion expected

“We know that digital is the new normal. The consumer today is digitally grounded and simply will not revert back,” CEO John Donahoe said. Our Nike digital business is already meeting our mix goal of 30%, nearly three years ahead of schedule and we will continue to grow from here," he added.

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Nike shares surged to an all-time high on Wednesday following the earnings report and the stock up 15% for the year.

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McAfee shares open below IPO price of $20

McAfee shares open below IPO price of $20

Cybersecurity firm McAfee returned to Wall Street on Thursday and it commenced trading on the Nasdaq under the ticker symbol “MCFE”. In this IPO transaction, McAfee sold 37 million shares and raised $740 million in funds. McAfee is an antivirus software provider that provides cyber security solutions for data centers and cloud services.

Snap stock hits all-time high today. Here’s why

Snap stock hits all-time high today. Here’s why

Snapchat's parent company Snap Inc (NYSE: SNAP) shares surged more than 20% on Wednesday in pre-market trading after the company reported better-than-expected third-quarter financial results. The Social media company registered a 52% increase in revenue at $679 million in its third quarter.