Wall Street closes at a record for the first time since end of January
Investing.com -- Nike shares rose 2.2% in premarket trading Thursday after CEO Elliott Hill purchased shares of the sportswear company.
Hill bought 23,660.235 shares at $42.265 each on April 13, according to a Securities and Exchange Commission filing. The purchase follows Hill’s roughly $1 million stock acquisition last year, while Apple Inc (NASDAQ:AAPL) CEO and Nike board director Tim Cook purchased $3 million in shares.
Shares traded at $44.98 in extended trading.
Last month, Nike forecast a surprise drop in sales, citing weak demand in China and pressures stemming from the Middle East conflict, testing its months-long turnaround efforts.
The company is also in exclusive talks to sponsor footballs for European men’s matches, edging out rival Adidas.
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