Nike (NKE -4%) trades lower following its FQ3 report, as gross margin and inventory worries take...


Nike (NKE -4%) trades lower following its FQ3 report, as gross margin and inventory worries take precedence over healthy top-line trends. During its earnings call, the shoe giant said it expects gross margin to rise Q/Q in FQ4, but still be down 100 bps Y/Y. In addition, though maintaining a Buy, Citi is removing Nike from its Top Picks Live list, citing the stock's 2012 gains and a lack of a catalyst until May.

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