Nike Inc. (NYSE: NKE) has decided to jump on the stock buyback bandwagon this morning.  The footwear and sports apparel and equipment maker has just announced it would repurchase up to $5 billion in common stock over the next four years.  This plan will begin upon the completion of its existing $3 billion share buyback plan.  Nike has repurchased roughly $5.5 billion in stock over the last 10 years.

Nike shares are up over 2% pre-market at $65.20.  Its 52-week trading range is $51.50 to $70.60. 

Jon C. Ogg
September 22, 2008