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 60.0 points (-0.4%) at 15,913 as of Wednesday, Dec 11, 2013, 1:35 p.m. ET. During this time, 219 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 375.6 million. The NYSE advances/declines ratio sits at 686 issues advancing vs. 2,323 declining with 103 unchanged.
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Holding back the Dow today is Nike (NYSE: NKE), which is lagging the broader Dow index with a $2.24 decline (-2.8%) bringing the stock to $76.98. This single loss is lowering the Dow Jones Industrial Average by 16.95 points or roughly accounting for 28.2% of the Dow's overall loss. Volume for Nike currently sits at 3.7 million shares traded vs. an average daily trading volume of 3.9 million shares. Nike has a market cap of $56.77 billion and is part of the consumer goods sector and consumer non-durables industry. Shares are up 53.5% year to date as of Tuesday'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. The company has a P/E ratio of 27.3, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Nike as a buy. 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, solid stock price performance and impressive record of earnings per share growth. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.