Nike's 4Q results blew past analyst estimates and already the shares are jumping 4% in after hours trading. So how come CNBC’s Darren Rovell is so down on the company?
CNBC’s Sports Business Reporter Darren Rovell joins the guys for this conversation.
Rovell thinks Nike (NKE) could go down from here. He feels that spokesman LeBron James is “not getting it done” and LeBron’s shoes “have not blown out.” In addition, Rovell feels Nike’s apparel line is an absolute failure and says if Nike didn’t have Air Jordan’s they would be dead.
Rovell adds one positive for Nike is the non-collared shirt that Tiger Woods wore during the US Open.
Eric Bolling likes Nike stock for its chart.
Pete Najarian likes that Nike has signed Greg Oden, however Darren Rovell takes down The Pit Boss saying only Shaquille O’Neal has been a marketable center.
Jeff Macke doesn’t think striking the wrong sponsorship deal will irreparably harm Nike
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Trader disclosure: On June 26 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:
Macke Owns (SWY); Najarian Owns (.VIX); Bolling Owns (BP), (T); Bolling Is Short S&P Futures
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