Did Foot Locker Just Sound the "All Clear" Signal on Nike Stock?

Did Foot Locker Just Sound the "All Clear" Signal on Nike Stock?

A touch of optimism can produce dramatic price swings in an out-of-favor stock. Foot Locker (NYSE: FL) shareholders experienced that happy dynamic last week when shares soared by over 20% following the footwear retailer's earnings report.

Nike (NYSE: NKE), its main supplier, also had a strong week as investors bet that good news for one company would likely translate into good news for the other.

Let's take a closer look at the report.

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Source: Fool.com