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 117.0 points (-0.7%) at 16,295 as of Monday, Apr 7, 2014, 12:36 p.m. ET. During this time, 211.2 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 417.9 million. The NYSE advances/declines ratio sits at 843 issues advancing vs. 2,136 declining with 146 unchanged.
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Holding back the Dow today is Nike (NYSE: NKE), which is lagging the broader Dow index with a $1.64 decline (-2.3%) bringing the stock to $71.20. This single loss is lowering the Dow Jones Industrial Average by 12.41 points or roughly accounting for 10.6% of the Dow's overall loss. Volume for Nike currently sits at 3.3 million shares traded vs. an average daily trading volume of four million shares.

Nike has a market cap of $52.35 billion and is part of the consumer goods sector and consumer non-durables industry. Shares are down 7.4% 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

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