Reuters | |

Shares of Nike Inc surged 12% in premarket trading Friday and were set to open at a record high after the sportswear giant forecast full-year sales of more than $50 billion, riding on pent-up demand for sneakers and athletic gear from U.S. shoppers.

The company's fourth-quarter revenue also nearly doubled, topping $12 billion for the first time and overshadowing a weaker-than-anticipated performance in its fast-growing China market. read more

Kimberly Redmond | |

Nike Inc (NYSE: NKE) has filed a trademark infringement lawsuit against the New York-based designer of rapper Lil Nas X’s limited edition satanic-themed Air Max 97 shoes.

Filed Monday in New York federal court, the athletic shoemaker’s suit claims MSCHF Product Studio Inc altered its trademarked product without its “permission and authorization” and that it was “in no way connected with this project.”