NEW YORK -- Nike (NKE), the shoe and apparel maker, said Thursday that third-quarter earnings jumped, topping the expectations of Wall Street analysts.
Earnings for the quarter were $662 million, or 73 cents a share, up from year-earlier profit of $569 million, or 61 cents a share. Analysts were looking for earnings of 67 cents a share.
Revenue rose 9% to $6.19 billion; analysts forecast sales of $6.2 billion.
Nike said revenue in North America, which accounts for 40% of its sales, rose 18% to $2.55 billion.Nike said orders for shoes and clothing for delivery between March and July -- futures orders -- rose 6%.
Micron Technology (MU) posted a loss in its fiscal second quarter of $286 million, or 28 cents a share, as revenue rose 3% to $2.08 billion. Analysts were looking for a quarterly loss of 20 cents a share on revenue of $1.92 billion. The chipmaker said DRAM products sales rose 24% sequentially.
BP (BP), the U.K. energy giant, said Friday it would repurchase $8 billion of its shares, distributing to shareholders some of the proceeds from the sale of its stake in its Russian unit, TNK-BP, to OAO Rosneft. 5 Huge Stocks to Trade for Gains
Tiffany (TIF), the upscale jewelry retailer, is expected by analysts Friday to report fourth-quarter earnings of $1.36 a share on revenue of $1.25 billion.
Tech Data (TECD) said Thursday it would restate its results for the last three fiscal years because of a problem with how its U.K. operation reflected vendor accounting. Tech Data, the technology product distributor, said the restatement could reduce net income by $25 million to $33 million over the three years. 4 Stocks Under $10 Making Big Moves
Darden Restaurants (DRI), the owner of Olive Garden and Red Lobster restaurants, is forecast to report fiscal third-quarter earnings of $1.01 a share.
-- Written by Joseph Woelfel
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