Stock update!

A huge jump for Nike...

LOS ANGELES (Reuters) - Nike Inc (NKE.N) posted on Thursday a 51 percent rise in quarterly net profit, helped by a tax benefit and a weak-dollar boost to revenue, and its shares rose 1.6 percent as the results topped Wall Street targets.

Net income in the latest quarter rose to $569.7 million, or $1.12 per share, from $377.2 million, or 74 cents per share, a year earlier. Revenue rose 11 percent to $4.7 billion.

Nike shares closed at $58.32, down 24 cents, on the New York Stock Exchange, but rose 1.5 percent in after-hours trade. They are valued at 15.6 times estimated 2009 earnings, above the 13.7 ratio for Adidas and 15.1 for Puma AG (PUMG.DE).