Dow Today: Nike (NKE) Lower

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Dow Jones Industrial Average ( ^DJI) is trading down 91.0 points (-0.6%) at 15,167 as of Monday, Sep 30, 2013, 11:30 a.m. ET. During this time, 118.4 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 364.4 million. The NYSE advances/declines ratio sits at 820 issues advancing vs. 2,080 declining with 118 unchanged.
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Holding back the Dow today is Nike (NYSE: NKE), which is lagging the broader Dow index with a 65-cent decline (-0.9%) bringing the stock to $72.99. This single loss is lowering the Dow Jones Industrial Average by 4.92 points or roughly accounting for 5.4% of the Dow's overall loss. Volume for Nike currently sits at 2.8 million shares traded vs. an average daily trading volume of 3.6 million shares.

Nike has a market cap of $49.46 billion and is part of the consumer goods sector and consumer non-durables industry. Shares are up 34.6% year to date as of Friday's close. The stock's dividend yield sits at 1.2%.

NIKE, Inc., together with its subsidiaries, engages in the design, development, marketing, and sale of athletic footwear, apparel, equipment, and accessories, as well as in the provision of services to men, women, and kids worldwide.

TheStreet Ratings rates Nike as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

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