Nike climbs as Apple's Tim Cook buys $3 million in stock
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Nike shares rose 2% in premarket trading after Apple CEO Tim Cook purchased nearly $3 million worth of Nike stock. Cook, a long-time board member and lead independent director at Nike, bought 50,000 shares at $58.97 each. This purchase follows Nike's recent report of weaker margins and sluggish sales in China, which had caused a 13% slump in its stock since December 18.
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