Nike (NKE) Stock Up Ahead of Euro Championship Final
NEW YORK (TheStreet) -- Nike (NKE) - Get Report stock is rising by 0.89% to $56.42 this afternoon following the semi-final loss of Adidas-sponsored (ADDYY) Germany to Nike-sponsored France in the European Championship on Thursday night.
Following the loss, every player participating in the remainder of the continental soccer competition will be wearing Nike gear.
Nike has sponsored both teams facing off in the championship finals. France and Portugal will compete this Sunday in Paris.
This marks the first time in three decades that Adidas will not have a team competing in the European Championship finals.
Nike is expecting soccer sales of $2.14 billion this year while Adidas anticipates a record $2.8 billion, Bloomberg reports.
Nike is a sports retailing company based in Beaverton, OH.
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and solid stock price performance. Although no company is perfect, currently TheStreet Ratings does not see any significant weaknesses which are likely to detract from the generally positive outlook.
You can view the full analysis from the report here: NKE
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.