Nike Rally Runs Out Of Steam After Q3 Report

Nike

shares are trading lower by $2.24 at $62.52 in Wednesday's session. Despite a Q3 beat for EPS of $0.06, the Street is focusing on its revenue shortfall of $200M. Following the report, it swooned to $60.52 in after-hours trading. However, off the open of the regular session, it immedialtey found support at $61.15 and began to move higher. The ensuing rally has found resistance ahead of the lower=end of Tuesday's range ($64.17), so far only reaching $62.80.