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Nike downgraded as competitive pressure mounts in Europe

Shares of Nike Inc. NKE, -2.66% took a nearly 2% slide after being downgraded to neutral from overweight at Piper Jaffray. Analysts at Piper Jaffray, led by Erinn Murphy, wrote in a note to clients the resurgence of Adidas ADS, -1.44% has taken a toll on Nike's growth rate in Germany, the U.K. and France. "Adidas' strength is undisputed in the market with the...


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