- Bloomberg
Nike Shares ‘Too Expensive’ as Analyst Sees Stock Dropping 20%
(Bloomberg) -- Ahead of Nike Inc. reporting earnings next week, one Wall Street analyst has a message for investors: “Sell the stock.”Most Read from BloombergCar Dealerships Across US Halt Services After CyberattackCDK Tells Car Dealers Their Systems Likely Offline Several DaysPutin’s Hybrid War Opens a Second Front on NATO’s Eastern BorderUnited Airlines Jet Turns Back After Engine Piece Falls OffHedge Fund Talent Schools Are Looking for the Perfect TraderWilliams Trading analyst Sam Poser cut
- CNN Business
Adidas is investigating allegations of embezzlement and kickbacks in China
Adidas says it has started an investigation into allegations of “compliance violations” in China, a key market for its sportswear.
- Reuters
Adidas shares fall on investigation into China corruption allegation
"Adidas takes allegations of possible compliance violations very seriously and is clearly committed to complying with legal and internal regulations and ethical standards in all markets where we operate," it said in a statement. Adidas shares were down 4% at 216 euros by 1030 GMT. The claims "highlight the challenges many companies face in maintaining consistent oversight and control of their digital operations in the Chinese market," said Jacques Roizen, managing director of China consulting at Digital Luxury Group in Shanghai.
