Nike (NKE) Jumps 4.6% as Tim Cook Hikes Stake

Core Viewpoint - Nike Inc. has shown a significant stock performance increase following a notable investment by Apple CEO Tim Cook, despite facing challenges in earnings and sales guidance for the upcoming quarter [2][3]. Financial Performance - Nike's net income for the second quarter of fiscal year 2026 decreased by 32% to $792 million, down from $1.16 billion in the same period last year [3]. - Revenues remained flat at $12 billion, with declines in sales across China, Asia Pacific, and Latin America, which were offset by growth in the North American region [4]. Stock Movement - The stock price of Nike Inc. rose by 4.64% to close at $60 per share after Tim Cook acquired $2.9 million worth of new shares, increasing his stake to over 105,000 shares [2][3]. Future Outlook - Nike expects revenues for the third quarter to decline by low single digits, which is below analyst expectations for modest growth, primarily due to ongoing challenges in the Chinese market and higher tariffs [5].