Nike stock rises 5% as earnings, sales top forecasts, company continues progress with turnaround

Nike (NKE) reported its fiscal first quarter results on Tuesday after market close. Its results beat expectations as the sneaker giant navigates a major turnaround strategy under CEO Elliott Hill, who took the helm last fall, and President Trump's tariffs. Nike stock rose around 5% in Wednesday's trading session. The company reported adjusted earnings per share of $0.49 compared to Wall Street analyst estimates for $0.28, according to data from Bloomberg. Revenue increased 1% year over year to $11.7. bi ...