Nike Delivers on Earnings, But Misses on Future Orders

Competition is cutting into Nike's future orders, pressuring the stock.
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Nike  (NKE) - Get Report  delivered on earnings, but the stock took a hit after the shoemaker's future orders missed analysts' estimates for the third straight quarter. Nike's stock has been under pressure this year as the company is losing ground to competitors like Under Armour  (UA) - Get Report  and Adidas. The company's gross margins also fell.