Diamonds and Dogs
Nike (NKE) flying higher. The sneaker and apparel company is up 5% to new highs following earnings. Nike easily beat estimates as profits grew 25% and sales rose 7.2% to $10.66 billion. The results alleviate fears about the ongoing trade war between the U.S. and China. It also relieves concern that the strong dollar will be a drag on Nike's bottom line. The Women's World Cup helped quarterly results. Nike outfitted 14 of the tournament's 24 teams, including three of the four semifinalists and our champions. The U.S. women set records for soccer-jersey sales on Nike.com as tournament apparel sales were up fourfold over the 2015 tournament.
Match Group (MTCH) not a match for the FTC. The online dating website is down 3% after the Federal Trade Commission sued the company for using fake love interest ads to trick consumers into buying subscriptions. The FTC further alleged that Match unfairly exposed consumers to the risk of fraud and engaged in other allegedly deceptive practices.