Category: Companies / September 26, 2013 6:56 PM EDT
Nike, Inc. (NYSE: NKE) reported fiscal first-quarter earnings of $780 million, or 86 cents a share, compared with a profit of $585 million, or 63 cents a share, in the year-ago period. Revenue came in at $6.97 billion, in line with forecasts.
Nike’s EPS for the quarter came in above expectations, as analysts had estimated EPS of 78 cents.
On Monday, Nike, along with Visa Inc. (NYSE: V) and Goldman Sachs Group Inc. (NYSE: GS), was added as a member of the Dow Jones Industrial Average, replacing long-time member Alcoa Inc. (NYSE: AA).
Visa replaced Hewlett-Packard Company (NYSE: HPQ) on the Dow, while Goldman Sachs replaced Bank of America Corp. (NYSE: BAC).
On Thursday, shares of Nike jumped 6.13 percent to $74.65 in after-hours trading.
U.S. stocks ended a five-day losing streak on Thursday, as investors weighed jobless claims data and an unrevised second-quarter U.S. GDP estimate. The continuing budget debates in Washington made for a choppy trading session.
The Dow Jones industrial average ended the session up 55.04 points, or 0.36 percent, at 15,328.30. The S&P 500 was up 5.90 points, or 0.35 percent, at 1,698.67. The Nasdaq Composite Index rose 26.33 points, or 0.70 percent, at 3,787.43.
Video Credit: Reuters