Stocks quoted in this article:
Nike (NKE - 41-9/16
) shares have not had a champion year, falling nearly 40 percent from their all-time high of 66-15/16 reached on May 24. Since early November, the equity had been trading sideways in a range between the 44 and 48 levels. On Monday, NKE breached the lower tier of this range and has subsequently tumbled, sloughing off more than five percent since last Friday's close. Yesterday and today, the stock has seen above-average volume in anticipation of its second-quarter earnings report, which is expected to be released tomorrow. In September, the company reported its first-quarter earnings and topped analysts' estimates by four cents per share. For the second quarter, analysts are expecting NKE to earn 34 cents, a 41-percent increase over last year's figures. In mid-afternoon activity, NKE is trading up 3.4 percent.