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Nike slides after tapping Colin Kaepernick as the new face of its 'Just Do It' ads (NKE)

Colin Kaepernick is the new face of Nike’s “Just Do It” ad campaign. Follow Nike’s stock price in real-time here. Nike dropped 2.9% in trading Tuesday after the sneaker giant revealed Colin Kaepernick as the 30th anniversary face of its famous “Just Do It” ad campaign. …read more […]

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T-Mobile’s Sprint Deal Gets Tailwind From Chinese M&A Talks

A potential megadeal between Chinese wireless carriers could give a boost to two companies half a world away: T-Mobile US Inc. and Sprint Corp. China United Network Communications Group Co. is said to be exploring a merger with China Telecommunications Corp., a transaction that would unite the country’s second- and third-largest carriers. The Chinese deal would be part of that country’s push to develop advanced 5G network technology, raising concerns that the U.S. could fall behind in that area — a vulnerability that T-Mobile hopes to address with a Sprint acquisition. …read more […]

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Snap slides to a record low

Snap shares touched a record low of $10.49 apiece on Tuesday. Social-media stocks will remain in focus this week, with Twitter CEO Jack Dorsey and Facebook’s chief operating officer, Sheryl Sandberg, set to testify before Congress. Snap shares pushed lower Tuesday for a fifth straight session, touching a record low of $10.49 apiece. …read more […]

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Kaepernick Campaign Created $43 Million in Buzz for Nike So Far

The controversy surrounding Nike Inc.’s new Colin Kaepernick ad can’t be a surprise to the sportswear company. In less than 24 hours since Kaepernick first revealed the spot on Twitter, Nike received more than $43 million worth of media exposure, the vast majority of it neutral to positive, according to Apex Marketing Group. What’s more, he said, the move sends a strong signal to their current roster of athletes and positions Nike as a savvy risk-taker. …read more […]

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Amazon joins $1 trillion club, on pace to overtake Apple

If the online retailer’s share price continues at its recent pace, it will be a matter of when, not if, Amazon’s market valuation eclipses that of iPhone maker Apple, which reached $1 trillion on Aug. 2. Apple took almost 38 years as a public company to achieve the trillion dollar milestone, while Amazon got there in 21 years. While Apple’s iPhone and other devices remain popular and its revenues are growing, it is not keeping up with Amazon’s blistering sales growth. …read more […]

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Nike, Nordstrom and Roku shares are the Yahoo Finance charts of the day.

Let’s check out the Yahoo Finance charts of the day.

Nike (NKE): Shares are down in early trade, at around 2.1%. Colin Kaepernick is featured in Nike’s new ad campaign as it begins celebrating the 30th anniversary of its “Just Do It” campaign. Kaepernick was the first NFL player to kneel during the national anthem as a form of protest.

Nordstrom (JWN): Shares up here, at around 1.1%. Goldman Sachs rated the retailer’s stock a “buy” in new coverage. The investment bank noted Nordstrom’s premium offerings and operation of both a full-price business as well as an off-price format.

Roku …read more […]

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Transocean to buy Ocean Rig in $2.7 bln deal

Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery in the offshore sector. The acquisition signals new optimism for offshore drillers, which were hit hard by the steep plunge in oil prices from 2014. Offshore projects, which are more costly than onshore work and take years to develop, became less attractive after oil prices fell to below $30 a barrel in 2016. …read more […]