Nike on Buybacks: Just Do It (NKE)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published

Nike_logoNike 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

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Top Gaining Stocks

BLDR Vol: 3,565,915
MHK Vol: 1,345,230
IQV Vol: 1,862,431
CRL Vol: 936,779
UAL Vol: 10,098,783

Top Losing Stocks

CTRA Vol: 73,319,495
APO Vol: 6,985,376
BX Vol: 7,957,179
COIN Vol: 10,048,291
PFG Vol: 2,670,206