Previous close | 12.80 |
Open | 12.80 |
Bid | 0.00 |
Ask | 0.00 |
Strike | 82.50 |
Expiry date | 2026-01-16 |
Day's range | 12.80 - 12.80 |
Contract range | N/A |
Volume | |
Open interest | 496 |
Nike (NKE) is getting a new CEO. Elliott Hill, who was a longtime executive at the company, will be replacing retiring CEO John Donahoe effective October 14. Bernstein senior analyst Aneesha Sherman thinks Hill has "the right skill set" for the role and that the C-suite shake-up is good for the stock. So what will he need to do? Sherman says his first task will be "to set a path forward" for the apparel giant and "give investors a sense of where this company is headed." But then he'll really have to get to work. "This is a tanker that needs to be moved and it takes time. But I think investors will give him a pass if the targets sound reasonable, the goals sound reasonable and will give him a pass for the next 6 months to a year to fix the ship before it starts moving again," she tells Yahoo Finance. Watch the video above to hear why Sherman says one of Hill's priorities also needs to be helping Nike get its "mojo" back. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Stephanie Mikulich.
There has been a big C-suite shake-up at Nike (NKE). CEO John Donahoe is retiring. He will be replaced by former Nike executive Elliott Hill, effective October 14. Bernstein senior analyst Aneesha Sherman likes the move, saying it's good news for the stock, citing two reasons: Hill will be the new CEO and the announcement's timing. She notes that Hill has a long history at Nike, especially with the product, and appears to be well-liked at the company. "This is not only the right skill set in terms of understanding product and understanding Nike. I think he will be the right leader in terms of communication and vision because he's already very well known and liked within the organization," Sherman tells Yahoo Finance. As for timing, Sherman points to the fact that Hill will be in place in time for the company's investor day on November 19, giving him the opportunity to share his vision for the company rather than the outgoing CEO's. When it comes to Hill's priorities, Sherman thinks he will need to set up what his vision for the company is and then do more work to get the company's "mojo" back. Watch the video above to hear who Sherman says has benefited from Nike's troubles. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Stephanie Mikulich.
The Dow Jones and S&P 500 hit new highs and the Nasdaq topped key levels as growth led the day 2 reaction to Fed rate cuts.