Nike (NKE) certainly hasn't lost its stride. Shares jumped 8% when the company released earnings after yesterday's closing bell. Some of the highlights: Nike earned 73-cents a share, up from 61 a year ago. Future orders for March are up 6% from a year ago, and revenues are up 9%. The company noted weakening demand in China and Japan but said it was offset by strong business in Europe and emerging markets. Citigroup has now upped it target for the company.
Tiffany (TIF) is reporting earnings this morning. The stock wasn't exactly sparkling yesterday, down almost 2.5%. Analysts are expecting results to come in around $3.20 for the year ending now. That would be toward the low end of the company's own forecast. Tiffany has warned that the weakening Yen has hurt its bottom line. So have smaller margins, particularly on silver products.
Also reporting today is Kayak (KYAK) software, the parent company of Kayak.com. So far the stock isn't making many waves in premarket trading. This company first went public back in July. It hit its lows later in the summer and has been a steady ship since then at around $40-dollars a share. Competitor Priceline (PCLN) announced back in November that it wanted to buy Kayak for $1.8 billion. Right now the deal is under regulatory review.
Finally we look at Monster Beverage (MNST), which seems to have spooked investors. It's down more than 3% in premarket trading. The American Heart Association has issued a report saying energy drinks do in fact appear to increase blood pressure and disturb the heart's rhythm. Monster has recently decided to market its banner product as a beverage rather than a dietary supplement to sidestep federal regulations. Shares are well off their 52-week highs which they hit at the end of last April.
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