Market Minute: RIP Dow Winning Streak? Strong Sales Boost Nike Earnings

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A major winning streak may come to an end, and Nike continues to race ahead. Those and more are what's making business news Friday.

The Dow industrials (^DJI) gained 114 points Thursday, their third straight triple-digit gain. The S&P 500 (^GPSC) gained 10 points and the Nasdaq (^IXIC) rose 25.

But the Dow is in jeopardy of snapping a streak of six monthly gains in a row. A few days ago that seemed like a pretty sure thing, but heading into this final session of June, the Dow is down just 91 points.

nike earnings stocks investing market news
AP
Nike (NKE) keeps "just doin' it." The company posted a 22 percent increase in quarterly earnings, beating Wall Street expectations. Nike had strong sales overseas and benefited from the introduction of some new products, but it warned that sales in China could weaken.

Research in Motion (BBRY) posted a quarterly loss and revenue was shy of expectations, despite the launch of its new Z10 model. The company didn't break out sales numbers for the new smartphone. Blackberry shares have gained 22 percent so far this year, but they're set give back most of that this morning.

By contrast, Apple (AAPL) has lost 26 percent of its value this year, and it suffered a double dose of bad news yesterday. An analyst said not to expect a new iPhone until at least September, and a federal judge in California denied the company's effort to expand a lawsuit against Samsung to include the popular Galaxy S4.

And Google (GOOG) is looking to expand its Android system beyond phones and tablets. The Wall Street Journal says the company is developing a video game console -- a direct challenge to Microsoft, Sony and Nintendo.

The big consulting firm Accenture (ACN) may need some advice of its own. It shares are set to slide after the company lowered its revenue forecast for the year.

And the major airlines continue to rake in fees for baggage and reservation changes. From reservation changes alone, Delta Air Lines (DAL) took in the most, followed by United (UAL), American, US Airways (LCC) and JetBlue Airways (JBLU).

-Produced by Drew Trachtenberg


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11 Comments

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DDerr

Ha ha you clueless Wall Street Parasites! When the crash comes in the fall, we hope 80% or you lose your jobs. What a pathetic bean counting, horse race. And ol Obama bailed you guys out!

Our government is so clueless and lost. And all their wishful words of "recovery" are hilarious to me. Youve dug a $17 trillion dollar hole baling out and handing out, and NOTHING ON THIS PLANET WILL STOP ITS TOLL ON OUR ECONOMY. Obama, try to bluff your way out of the economic collapse thats in plain sight. You are a clueless socialist who NEVER would have been even nominated if you werent black, let alone president. Alas, even your staunchest supporters will hae no where to hide in the next few months.

June 28 2013 at 3:14 PM Report abuse +1 rate up rate down Reply
kolblh

Yes it is.

June 28 2013 at 2:01 PM Report abuse -1 rate up rate down Reply
webreader

Thanks to Lebron!

June 28 2013 at 12:34 PM Report abuse -1 rate up rate down Reply
9RRs

You know Nike's shoes are made where poeple make them for $2.25 a day and then there sold here for $70 and up. Why I ask? Its just a cheap shoe.

June 28 2013 at 12:29 PM Report abuse rate up rate down Reply
posiesandlace

Nike "does it" by manufacturing their products in a cheap labor country for little cost and then selling them to stupid Americans and others at an exorbitant price.

June 28 2013 at 10:51 AM Report abuse -1 rate up rate down Reply
1 reply to posiesandlace's comment
kolblh

I'm an American and I'm not stupid.

June 28 2013 at 2:02 PM Report abuse -2 rate up rate down Reply
ROB

will be below 10,000 by xmas.

June 28 2013 at 10:43 AM Report abuse -2 rate up rate down Reply
1 reply to ROB's comment
endlessdrip

Why? Where else in this world can you learn about a company's earnings and see their numbers prior to investing in their stock? Sure it's all legalized gambling but for those with the ability to forecast based on the numbers they see, this market can be a bonanza for the savy investor.

June 28 2013 at 12:46 PM Report abuse rate up rate down Reply
Dan

The DOW goes up, the DOW goes down. Folks who fail to know the history of the stock market probably shouldn't be involved in it. It will always go up and down. It's the nature of the beast.

June 28 2013 at 9:52 AM Report abuse +3 rate up rate down Reply
pdbliz

I did not know it has started,,,since my interest is still at 1/2 %.........
2005,,,,4%........ALL IS FAKE,!!!!!! FAKE RISE......FAKE GOVERMENT.!!!!!!

June 28 2013 at 8:42 AM Report abuse -1 rate up rate down Reply
rkeeeballs

...Just moving along with slow but steady growth.... :>)

June 28 2013 at 8:41 AM Report abuse -1 rate up rate down Reply