Jim Cramer: Just Do It and Buy Nike After Earnings

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Nike  (NKE) - Get NIKE, Inc. (NKE) Report posted earnings of 70 cents a share vs. 52 cents in the year-ago quarter and well above analysts’ forecasts of 58 cents a share. Sales rose 10% to $10.32 billion against analysts’ estimates of $10.09 billion.

Over the past five years, Nike has reported double-digit sales growth in China, but there were concerns that trade tensions between the U.S. and China would weigh on the company’s performance.

Nike reported 20% revenue growth in China to $1.8 billion, led by $1.2 billion in footwear.

North America and Europe remained the company’s biggest markets, accounting for $3.98 billion and $2.53 billion of sales in the quarter, respectively. Nike’s revenue from North America, however, missed Wall Street's expectations of $4 billion.

"Stock ran up a lot. But this stock is...it's a good opportunity to buy. Wait til the end of the day and the seller's going to try and make themselves look right. The brokers will be trying to get an average price that at the end of the day then they mark it down so that maybe they sell it at $99 and knock it down to $98 and they'll be able to say to the client, 'Hey listen, I got you better than the average," said Cramer.  

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