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Nike's stock soars toward record, accounts for more than half the Dow futures' gains

Shares of Nike Inc. NKE, +11.13% soared nine.2% towards a document high in premarket industry Friday, after the athletic attire and equipment company reported fiscal fourth-quarter earnings that beat expectancies and announced a $15 billion proportion buyback program. The stock's early price gain would add about 45 issues to the Dow Jones Industrial Average DJIA, +zero.23% and Dow futures YMU8, +zero.20% were up 76 issues forward of the open. No not up to 16 of 35 analysts surveyed by way of FactSet have greater their stock price goals Friday, lifting the average target to $79.33, when put next with a median of $71.73 at the end of May. Susquehanna analyst Sam Poser raised his target to $78 from $64, bringing up better-than-anticipated earnings and margins in all geographies and most merchadise classes. The stock is these days buying and selling smartly above the June 15 document close of $75.84 and the June 7 intraday document of $75.91. The stock has rallied 15% 12 months so far thru Thursday, whilst the Dow has slipped 2%.