They've been a match made in heaven for over thirteen years. But now Nike and Manchester United are heading for a divorce. The question now is what will replace the iconic tick now the red shirts are up for grabs? Adidas will be one that's sure to be waiting on the sidelines. But with Manchester United looking for nearly DOUBLE what it previously asked for, it's not certain who will want to sign up next.
Shares of Nike are falling on Friday, one day after the company reported better-than-expected third quarter profit and sales. The company reported total revenue that rose to $6.97 billion, beating analyst expectations for $6.69 billion, according to Thomson Reuters.
A Reuters poll showed Thursday, Wall Street's Standard & Poor's 500 .SPX index will hit 2,000 for the first time before the end of 2014, having already set a series of record highs this year on optimism that interest rates will remain low. Last week, U.S. Federal Reserve Chair Janet Yellen said interest rates could be "well below longer-run normal values at the end of 2016." Some of the largest U.S.
Manchester United scored a better-than-expected third quarter after tripling earnings and boosting top-line growth. Over the period ended March, the British soccer club earned 6.66 British pounds, three times earnings a year earlier, and far exceeding analysts' estimates of 5 pounds.
Sources are telling Reuters, Deutsche Bank has fired three New York-based currency traders, in the latest sign that a probe over alleged manipulation of foreign exchange markets is gathering steam. According to the source, Diego Moraiz, Robert Wallden and Christopher Fahy were terminated by the bank, which told trading floor staff of the development on Tuesday. The terminations come as authorities around the world, including Britain's Financial Conduct Authority and the U.S.
The man behind the Morphsuit, Gregor Lawson, joins Reuters for the taxi challenge. He explains how his company AFG Media has come to make Â£12 million in sales in just four years by creating fully-body spandex suits, and how Halloween gimmicks attracted a NASA worker.
Sports wear maker Nike Inc., reported a rise in quarterly profit, helped by strong sales of its apparel and footwear in North America and Western Europe. The company's net income from continuing operations rose to $698 million, or 78 cents per share, in the fourth quarter ended May 31 from $690 million, or 76 cents per share, a year earlier. Revenue from continuing operations rose 13 percent to $7.43 billion, excluding the impact of currency fluctuations.
Thursday will be a big day for earnings: premarket, General Mills will look to break its streak of bad news, reporting less than street projections for three of the last four quarters. Also coming before the bell is Monsanto, as well as Barnes & Noble: how did a book retailer that has been reporting losses, but beating projections, up nearly 40% in 2014? Plus, Nike on the numbers after the bell, and why Jim Cramer likes 3M's international operations to generate ROI for its investors. He's target