Nike Hopes to Score with Its Q4 Earnings Report

The stock had been struggling, as analysts were concerned about possible weakness in demand for Nike products, but the World Cup has sparked interest in the stock, which until today had risen nearly 7% over the past 2 weeks.

While Nike is not a formal sponsor of the World Cup, its presence can not be denied, and its soccer related advertising campaign has definitely been generating a lot of buzz for the company.

When it comes to advertising, Nike has always been a winner, and this year's World Cup is a perfect example. Consider that Adidas is outfitting 12 different teams, compared to just 9 teams for Nike. Despite the difference, as Nike has generated more than twice the "official and competitor buzz" as tracked by Nielsen.

There is definitely big money to be made from soccer sales. Adidas has forecast that it will earn $1.85 billion in revenues from soccer related products this year. Nike definitely wants to get their piece of the pie, and we should hear more about the impact the company is seeing from the World Cup during tomorrow.

Since Nike enjoys such a popularity around the world, it is often used as a litmus test for consumer sentiment and spending around the globe.

Analyst take: Citigroup remains optimistic about the stock, but did express caution over the company's European business. Citigroup maintained a "Buy" rating on the stock, with an $86 price target. The stock is currently trading at $72.65.

The stock is trading down 2.2% today as the overall market has given back 1.4% as traders deal with a weak housing report and news that Washington was going to fight a ruling against its ruling against its offshore drilling moratorium.