PREVIEW: Nike climbs with earnings on deck

Nike NKE.N shares up 2.7% at $52.63 ahead of Q3 earnings due after the closing bell on Tuesday, as investors watch for signs of a turnaround in China

The footwear and apparel maker is expected to post adj. EPS of 28 cents on revenue of $11.24 bln, per LSEG data, vs yr-ago results of 54 cents and $11.27 bln in revenue

Focus remains on the Greater China market, which has seen six straight qtrs of sales declines amid stiff competition from local rivals and sluggish consumer spending

NKE has topped EPS estimates for at least the past eight qtrs, while revenue has met or beaten expectations in six of past eight, with most recent miss in Q1 2024

Of the 40 analysts that cover NKE, the breakdown of recommendations is 24 "strong buy" or "buy," 14 "hold" and 2 "sell" ratings

NKE shares down 17.4% YTD vs 4% decline in Dow Industrials .DJI and ~34% below its 52-week high of $80.17 from Aug 2025

Bloomberg reported on Tuesday that Authentic Brands has expressed an interest in buying the Converse brand if Nike puts it up for sale