Nike’s New High, JPM’s New Plan
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 21 December 2020
⏱️ 22 minutes
🧾️ Download transcript
Summary
Nike’s 2nd-quarter report sends shares to a new all-time high. JP Morgan Chase announces a plan to buy back $30 billion worth of shares. Plus we dip into the Fool Mailbag to kick the tires on Digital Turbine. Jason Moser analyzes those stories and previews his interview with Kevin O’Leary from “Shark Tank” on the Industry Focus podcast.
Holiday Song - “Santa Stole My Lady” by Fitz and the Tantrums
Transcript
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| 0:00.0 | It's Monday, December 21st. Welcome to Market Foolery. I'm Chris over with me today. |
| 0:06.6 | Mr. Jason Moser, good to see you, sir. |
| 0:08.7 | Happy December 21st. |
| 0:11.3 | Yes, shortest, shortest day of the year. Just around the corner here, right? |
| 0:15.0 | No, today, today is the shortest day of the year. |
| 0:18.0 | Oh, is it really? Well, wow, I thought it was, for some reason I was thinking it was the 23rd but I mean hey nevertheless |
| 0:25.2 | That's great. Hey let's let's get back to some longer days. I'm tired of waking up in like the middle of the night when it's like seven in the morning and |
| 0:34.0 | You know sitting there watching TV at 4.30 in the afternoon and realizing it's pitch black dark. |
| 0:37.0 | Today we've got big banks we've got a big guest coming up on our industry focus podcast and we're |
| 0:46.1 | gonna start with another big quarter from Nike. Second quarter profits came |
| 0:50.3 | in higher than expected. Revenue in China up 24% online sales continue to |
| 0:56.6 | impress so no surprise that shares of Nike are up 5% this morning and hitting a |
| 1:02.0 | new all-time high. |
| 1:03.0 | Yeah, well, I mean, we've been saying it all year regarding strong businesses in trying times like these and CEO John Donahoe even reiterated it on the call |
| 1:15.0 | when he said and I quote these are times when strong brands get stronger and |
| 1:19.8 | and certainly Nike is one of those strong brands going into this. |
| 1:24.1 | I mean, we knew that it was going to be able to pivot and deal with |
| 1:27.2 | with this situation better than most and it's proving out to be the case. |
| 1:31.5 | As you noted, strong really financial performance across the board, |
| 1:36.0 | revenues of $11.2 billion. It was up 7% on a currency neutral basis. |
| 1:41.0 | Nike Direct Sales. This was really impressive. Nike Direct |
| 1:44.9 | sales are 4.3 billion dollars. That was up 30 percent, but if you do a little |
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