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Nike Slips 3%

Shares of sports apparel maker Nike Inc. (NKE) are down 3 percent on Tuesday's trading after reports that Barclays lowered their rating and price target ahead of the company reporting its first-quarter earnings in late September.

The Analyst's rating is lowered to 'equal weight' and the price target down by $15, to $110 per share, quoting excess inventory and weakness in its key China market. The effect of a rising U.S dollar, and reduced consumer demand in Europe and North America also might impact Nike's performance.

Currently at $103.40, the stock has traded between $99.53 and $179.10 during the past 52 weeks.

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