Shares of Nike (NKE) move up 1.4% premarket following the announcement that the company plans to...

|About: Nike Inc. (NKE)|By:, SA News Editor

Shares of Nike (NKE) move up 1.4% premarket following the announcement that the company plans to buy back $8B worth of its own stock. Not everyone is a fan of the move however, Jeff Macke notes that's "foolish" to do a huge buyback with shares only $10 off of their highs.