"Nike shares ticked up 2% in premarket trading on Wednesday after Apple CEO Tim Cook bought nearly $3 million worth of the sportswear maker's stock. Cook, who has served on Nike's board since 2005 and is its lead independent director, bought 50,000 shares at $58.97 each, according to a regulatory filing published on Tuesday. Nike shares were trading at $58.49 on Wednesday. The purchase comes just days after Nike reported weaker quarterly margins and sluggish sales in China."
"Nike shares were trading at $58.49 on Wednesday. The purchase comes just days after Nike reported weaker quarterly margins and sluggish sales in China. Its shares have slumped nearly 13% since it reported results on December 18. Cook now holds about 105,000 shares in Nike, as of December 22, the filing showed. -Aishwarya Venugopal, Reuters The extended deadline for Fast Company's World Changing Ideas Awards is Friday, December 19, at 11:59 p.m. PT. Apply today."
Tim Cook purchased 50,000 Nike shares at $58.97 each, totaling nearly $3 million, raising his holdings to about 105,000 shares as of December 22. Cook has served on Nike's board since 2005 and is the company's lead independent director. Nike shares ticked up 2% in premarket trading after the purchase and were trading at $58.49 on Wednesday. The purchase followed weaker quarterly margins and sluggish sales in China. Nike's shares have slumped nearly 13% since the company reported results on December 18. The regulatory filing was published on Tuesday.
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