Market recap: Nike stock feels effects of backlash over ad

Winners on the week include Vera Bradley and AeroVironment.

September 9, 2018 at 5:01AM
A large billboard stands on top of a Nike store showing former San Francisco 49ers quarterback Colin Kaepernick at Union Square, Wednesday, Sept. 5, 2018, in San Francisco. An endorsement deal between Nike and Colin Kaepernick prompted a flood of debate Tuesday as sports fans reacted to the apparel giant backing an athlete known mainly for starting a wave of protests among NFL players of police brutality, racial inequality and other social issues. (AP Photo/Eric Risberg)
An endorsement deal with Colin Kaepernick affected Nike’s share price through the week. (The Minnesota Star Tribune)

Unlaced: Nike stock fell 2.6 percent to $80.04 Tuesday after the company announced a new endorsement deal with Colin Kaepernick, who began a wave of protests by NFL players two years ago. The shares closed the week at $80.30.

Tech hearing: Twitter fell 3.6 percent to $33.57 Wednesday ahead of an congressional appearance by CEO Jack Dorsey, who rejected charges from Republicans that his site is biased against conservatives. The shares closed the week at $30.49.

Lack of energy: Halliburton shares declined 5.3 percent to $37.41 Wednesday after its chief executive said the company is seeing a steeper-than-expected decrease in North American drilling activity. It also reported project delays in the Middle East. Shares closed the week at $36.80.

Vera good: Clothing and accessories retailer Vera Bradley jumped 16.5 percent to $16.65 Wednesday after it posted strong results in the second quarter and raised its profit forecast for the year. The stock closed Friday at $16.77.

Sales slump: Lands' End fell 13.4 percent to $21.70 Thursday after it took a bigger loss than analysts expected and said sales at Lands' End Shops inside Sears stores continued to fall sharply. Shares closed Friday at $20.02.

Flying high: Drone maker AeroVironment rose 11.6 percent to $97.62 Thursday after posting a quarterly profit that was much bigger than what Wall Street expected as its revenue more than doubled. Shares closed the week at $100.43.

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