Nike Inc. (NYSE: NKE) has decided to jump on the stock buyback bandwagon this morning. The footwear and sports apparel and equipment maker has just announced it would repurchase up to $5 billion in common stock over the next four years. This plan will begin upon the completion of its existing $3 billion share buyback plan. Nike has repurchased roughly $5.5 billion in stock over the last 10 years.
Nike shares are up over 2% pre-market at $65.20. Its 52-week trading range is $51.50 to $70.60.
Jon C. Ogg
September 22, 2008
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