What Is the Stock Symbol for Nike?
The Nike Corporation is probably as well known for its effective use of athletes to promote its products as for its shoes---and for playing a large role in turning the lowly athletic shoe into a fashion statement. The company remains an attractive prospect for investors because of its commitment to continued growth. If you are considering adding this company to your portfolio you need to know the stock symbol for Nike. Find that information, along with an overview of the company's history and operation.
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Identification
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Nike is a publicly traded corporation headquartered in Beaverton, Oregon. The stock is listed on the New York Stock Exchange under the ticker symbol NKE. You can buy shares of Nike there by calling your broker or use Nike's direct stock purchase plan (see Resources). Use the ticker symbol to find price quotes and current information on Nike on financial websites.
History
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Nike began as Blue Ribbon Sports, a modest distributorship for Japanese running shoes started by University of Oregon coach William Bowerman and one of his athletes, Phillip Wright. Starting in 1964, they originally marketed shoes mostly at track meets, but were able to open their first store in 1966. By 1971, they were ready to manufacture their own shoes and the following year renamed the company after the Greek goddess of victory. The swooping curve of the Nike logo quickly became nationally known and by 1980 Nike had captured fully 50 percent of the U.S. athletic shoe market. The company has since pursued an aggressive growth strategy including a series of acquisitions and entry into athletic apparel and equipment markets worldwide.
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Types
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Athletic shoes are Nike's flagship product, but they also produce and market a broad range of athletic apparel and accessories. Their lines of sports equipment include sports like baseball, basketball, hockey, soccer, and even cricket. The company has diversified to a degree through a series of acquisitions, including the high-end footwear firm Cole Haan in 1988. Since 2000, Nike has also acquired apparel firm Hurley International (2002), Converse athletic shoes (2003) and Umbro, known for its association football gear (2008).
Size
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For 2008, Nike had revenues of $18.627 billion with operating income of $2.2 billion. Net income was $1.883 billion. The company reported assets of $12.443 billion with shareholders equity of $7.825 billion. As of 2007, Nike remained the largest maker of athletic footwear in the United States and employed over 30,000 people.
Features
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Nike is investor friendly and provides excellent resources for investors. In addition they have a direct stock purchase plan that is suited to the small investor or those wishing to keep transaction costs low. As of 2008, the plan required a $500 minimum investment, but offers the option of making this in the form of $50 increments automatically debited from a bank account on a monthly basis. There is a one-time set-up fee of $10 and modest transaction fees charged by the transfer agent, Computershare. You can enroll in the plan either online or by calling Computershare toll free at (800) 756-8200.
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