Nike surprised investors with a new CEO Thursday.One month ago, Nike (NKE 6.84%) stock bizarrely jumped when Starbucks named a new CEO. While that news had nothing to do with Nike, it seemed to give investors a glimmer of hope that change was possible at the struggling footwear giant as Starbucks, which had been similarly flopping, jumped when it announced Brian Niccol as its next CEO.Now Nike is indeed following in Starbucks' footsteps, having announced its own CEO change after hours on Thursday, and the s ...

The announcement that Nike Inc NKE is bringing in Elliot Hill as the new CEO could be a positive change given his experience and company tenure, but it raises questions about the company’s strategy for a turnaround and plans to return to revenue growth.The Nike Analysts: Piper Sandler analyst Anna Andreeva maintained a Neutral rating with a $80 price target.KeyBanc analyst Ashley Owens maintained a Sector Weight rating with no price target.Stifel analyst Jim Duffy maintained a Hold rating with a $79 price t ...

Key Takeaways Nike's hard-hit shares topped the Dow's leaderboard Friday as Wall Street analysts largely welcomed the company's appointment of longtime executive Elliott Hill as its new CEO. Jefferies stuck with its hold rating noting that Hill will have to handle headwinds including more competition since he left the firm four years ago. Bank of America maintained its buy rating and said Hill's long previous tenure with Nike bodes well for its restructuring. Nike's (NKE) hard-hit shares rallied Friday, top ...

Shares of NIKE, Inc. NKE are rallying after the company appointed Elliott Hill as its new CEO, aiming to rejuvenate sales by mending ties with retailers.But as you can see on the chart, the shares ran into resistance around $88.50. This isn't a surprise. It's why our team of trading experts has made it our Stock of the Day.There is resistance around the $88.50 level because it was support in April. Price levels that had previously been support can convert into resistance. This is a common occurrence not jus ...

Nike CEO Transition and Market Reaction - Nike's stock surged more than 8% following the announcement of CEO John Donahoe's departure, with shares rising over 5% on Friday alone [1][2] - Elliott Hill, a former Nike executive with over 30 years of experience, returned as the new CEO, aiming to boost employee morale and focus on consumer-centric strategies [1][3] - Under Donahoe's leadership, Nike lost nearly $40 billion in market capitalization, and its shares have declined by almost 20% since January 1 due to inflation and competition [2][5] Financial Performance and Challenges - Nike achieved over $50 billion in annual sales for the first time in fiscal 2023, but analysts project a decline to $48.87 billion for fiscal 2025 [4] - The company faces challenges from inflation-weary consumers reducing discretionary spending and slower-than-expected recovery in China [5] - Intensifying competition from brands like Hoka and On is pressuring Nike's market dominance in the athletic and leisure industry [5] Leadership Compensation and Investor Influence - John Donahoe earned nearly $104 million in pay and benefits during his tenure, with $35 million tied to equity awards, placing him in the top 0.1% of US CEOs [2][5] - Bill Ackman's Pershing Square Capital Management acquired 16.3 million Nike shares, signaling support for Hill as the new CEO [2] Strategic Focus and Employee Engagement - Hill plans an all-hands meeting on October 14 and encouraged employees to share their concerns and questions directly with him [3] - He emphasized the need for speed, urgency, and a consumer-first approach in his introductory video message to employees [3]

Nike surprises Wall Street with a CEO change.Being in Nike (NKE 6.21%) stock hasn't exactly been a winning game in recent years. Shares of the iconic athletic shoe maker have badly trailed the returns of the S&P 500 index over the last decade.But Nike shares are running higher today. After jumping nearly 9% Friday morning, as of 10:35 a.m. ET, the stock was still trading higher by 5.8%. That's because investors hope the stock's long-lasting slump is coming to an end with a CEO replacement.Nike's been losing ...

Nike Inc (NYSE:NKE) stock is up 5.5% at $85.42 at last glance, after news that CEO John Donahoe is retiring in October and will be replaced by former executive Elliott Hill, who is coming out of retirement for the role after working 32 years at the company. Donahoe's stint at the helm has been rocky, and investors are optimistic about the change. The stock has yet to recover from June 28, when it dropped 22.4% for its worst day ever after mixed earnings results and a guidance warning. Still, today's pop has ...

HONG KONG, CHINA - 2021/10/07: Children play in front of the American multinational sport clothing ... [+] brand Nike store, logo, with a slogan "Just Do It" illuminated banner in Hong Kong. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesNike just announced that CEO John Donahoe will retire on October 13 to be replaced by longtime Nike stalwart Elliott Hill. Donahoe joined Nike’s board in 2014 and became CEO in January 2020. Hill came to Nike as a s ...

Key TakeawaysNike shares traded sharply higher in pre-market trading Friday after the world’s largest athletic apparel and equipment company announced Elliott Hill will replace John Donahoe as CEO amid a leadership shakeup aimed at reviving sales and competing more effectively with rival brands.Buyers have successfully defended a retracement to the neckline of a triple bottom, a chart pattern that typically forms after a prolonged downtrend and signals a potential price reversal. Investors can watch key ove ...

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Considering buying Nike stock? Here’s what analysts think: Read Next: ...