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Stock trading app sees spike in buying Nike shares

Colin Kaepernick kneels on the sideline, during the anthem. Photo: Michael Zagaris/San Francisco 49ers/Getty Images

Since Nike unveiled its new ad campaign with ex-NFL player Colin Kaepernick, millennial stock-trading app Robinhood says its users have been buying the sports apparel company’s stock three times more than they’re selling, up from 12% last week.

Why it matters: Nike’s stock was down 3% on Tuesday, but its bet on the political campaign seems to be paying off with young consumers — Robinhood is popular among millennials and its users are 31-years-old on average. Go deeper: Why some Nike analysts are staying silent

Go deeper

Hans Nichols, Jacob Knutson
44 mins ago - Politics & Policy

Neera Tanden withdraws nomination for Office of Management and Budget director

Neera Tanden testifying before the Senate Budget Committee in Washington, D.C., in February 2021. Photo: Anna Moneymaker/The New York Times/Bloomberg via Getty Images

Neera Tanden withdrew her name from nomination to lead the Office of Management and Budget after several senators voiced opposition and concern about her qualifications and past combative tweets, President Biden announced Tuesday.

Why it matters: Tanden’s decision to pull her nomination marks Biden's first setback in filling out his Cabinet with a thin Democratic majority in the Senate.

Go deeper (1 min. read)Arrow
Courtenay Brown
2 hours ago - Economy & Business

What's ahead for the newest female CEOs

Jane Fraser (L) and Rosalind Brewer. Photos: Jason Redmond/AFP via Getty Images; Rodrigo Capote/Bloomberg via Getty Images.

The number of women at the helm of America’s biggest companies pales in comparison to men, but is newly growing — and their tasks are huge.

What's going on: Jane Fraser took over at Citigroup this week, the first woman to ever lead a major U.S. bank. Rosalind Brewer will take the reins at Walgreens in the coming weeks (March 15) — a company that's been run by white men for more than a century.

Go deeper (1 min. read)Arrow
Ursula Perano
3 hours ago - Health

Biden says U.S. will have enough vaccines for 300 million adults by end of May

President Biden. Photo: Anna Moneymaker-Pool/Getty Images

President Biden on Tuesday said that ramped-up coronavirus vaccine production will provide enough doses for 300 million Americans by the end May.

Why it matters: That's two months sooner than Biden's previous promise of enough vaccines for all American adults by the end of July.

Go deeper (<1 min. read)Arrow