NEW YORK (
) -- Shares of
rose in extended trading late Monday after reports surfaced that it's close to winning uniform and sideline apparel rights for the National Football League.
The victory would be a major blow to
, which currently holds the rights. Reebok was acquired by Adidas Group in a deal that closed in early 2006, and its partnership with the NFL has been in place since 2000, according to its
first reported that
NFL owners are close to approving the deal
, citing "numerous industry sources" and
later followed up, saying the owners would be
Nike's stock last changed hands at $84.45, up 3%, on volume of nearly 67,000, according to
. Year-to-date, the shares had risen 24.2% through the regular session close at $81.98.
The news could also impact
, which was also believed to be bidding for the deal. The
report said that Under Armour would continue to supply apparel for the league's scouting combine, which usually takes place in late February.
Nike reported its fiscal 2011 first-quarter results on Sept. 23, posting a profit of $559 million, or $1.14 a share, on revenue of $5.18 billion for the three months ended on Aug. 31 The bottomline performance was well ahead of Wall Street's consensus view for earnings of $1.01 a share but the company fell short of the revenue estimate of $5.22 billion.
Investors apparently didn't mind the topline miss all that much, however, as based on Monday's regular session close, the stock had gained more than 5% since closing at $77.67 just prior to the report.
Written by Michael Baron in New York.
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