BUZZ-Nike up after CEO Hill buys stock worth $1 mln
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Nike's shares rose 2.1% to $62.47 after CEO Elliott Hill purchased $1 million worth of stock. This follows a $3 million stock buy by board director Tim Cook. Analyst Simeon Siegel noted that insider purchases are encouraging despite recent challenges, including a drop in gross margins and sales in China. However, improvements in North America and marketing efforts suggest potential recovery. Year-to-date, Nike's stock is down 19.13%, marking a trend of four consecutive years of declines.
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