Today's Stock of the Day is Nike (NKE).
Nike Covers Bet on Tiger Woods
Nike (NKE: Charts, News, Offers), the world's largest manufacturer of athletic shoes and active apparel, seems almost impervious to scandal. So much of the company's success lies with marketing and brand recognition, yet damaging revelations about key spokesperson do nothing to knock the brand off the rails. First, there was the allegation that Air Jordan basketball shoes, named after the Chicago Bulls superstar were manufactured in sweatshops. The Michael Jordan image also suffered from publicity regarding gambling and marital problems. Then there were several Jordan retirements -– Nike stuck with him through it all. Years later, another Nike superstar, Kobe Bryant found himself the target of well-publicized rape charges. Nike had just signed Kobe away from Adidas shortly before the incident and other brands immediately fled the married basketball star. Nike reduced Kobe's exposure on behalf of Nike, but continued to honor their endorsement contract with him.Read more

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