Dow Today: Nike (NKE) Leads The Day Higher, United Technologies (UTX) Lags
The Dow component that led the way higher today was Nike (NYSE:NKE), which sported a $2.12 gain (+2.6%) bringing the stock to $82.04. Holding the Dow back today was United Technologies (NYSE:UTX), which lagged the broader Dow index with a 52-cent decline (-0.5%) bringing the stock to $108.70.
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) closed up 68 points (+0.4%) at 17,137. During the day, 261.8 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 297 million. The NYSE advances/declines ratio closed at 1,903 issues advancing vs. 1,131 declining with 161 unchanged.
EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.
The Dow component that led the way higher today was Nike (NYSE: NKE), which sported a $2.12 gain (+2.6%) bringing the stock to $82.04. This single gain is lifting the Dow Jones Industrial Average by 16.04 points or roughly accounting for 23.6% of the Dow's overall gain. Volume for Nike ended the day at 6.2 million shares traded vs. an average daily trading volume of 3.2 million shares. Nike has a market cap of $54.44 billion and is part of the consumer goods sector and consumer non-durables industry. Shares are up 1.6% year-to-date as of Thursday's close. The stock's dividend yield sits at 1.2%. NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories for 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, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow.