Nike Inc. (NYSE:NKE) surged 4.64% as Apple’s Tim Cook increased his stake in the company by $2.9 million, now owning over 105,000 shares. Despite a recent drop in net income and sales in certain regions, Nike expects third-quarter revenue to decline, below analyst expectations due to challenges in China.

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Read more at Yahoo Finance: Nike (NKE) Jumps 4.6% as Tim Cook Hikes Stake