Stocks to Watch: Nike, Micron, Tiffany

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

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.
Copyright 2013 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

If you liked this article you might like

Toys 'R' Us Bankruptcy Filing a Reminder That Amazon Is Crushing Everyone

Stocks on Track for Records Even as Trump Goes After North Korea

Cramer: How to Avoid Being Amazon Roadkill

Size Up Nike's Most Iconic Shoes Ahead of the September Air Jordan Release Date

Adidas Is Beating Nike in Sneaker Market Share, New Survey Reveals