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Tim Cook just gave Nike a much-needed holiday boost [Yahoo! Finance]
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Nike faces challenges, including falling sales in China and profit hits from tariffs. Nike has Tim Cook to thank for its warm, festive glow this Christmas. The sneaker giant disclosed in a filing that Cook, a longtime member of Nike's board and its lead independent director, bought shares in Nike worth about $3 million. Cook's purchase of 50,000 shares almost doubled his holdings in the company to just over 105,000 shares, or about $6 million. Nike's stock jumped 4.64% at the close of trading on Wednesday. Cook's investment sends a signal of support to Nike CEO Elliott Hill , who is in the middle of a plan to turn around the struggling sportswear giant. "You buy with your own personal wealth, you put your money where your mouth is, you're making a point," said Simeon Siegel, equities research analyst at Guggenheim, in an interview on CNBC on Wednesday. "Whether it's intended as an investment or as a signal, it's there." The company also disclosed that another board memb
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- Chinese Billionaire Who Fathered 100 Children Eyes US-Born Heirs For Business Succession [Yahoo! Finance][Yahoo! Finance]
- Apple CEO Tim Cook Buys $3 Million of Nike Shares. The Stock Is Rising. [Yahoo! Finance][Yahoo! Finance]
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- Nike Stock Price Gets a Lift After Apple's Tim Cook Doubles His Stake [Yahoo! Finance][Yahoo! Finance]
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