The hedge fund billionaire Bill Ackman has bet big on the iconic American brand. His firm, Pershing Square, acquired three million shares, or 0.2 percent, of Nike this spring. His stake is currently worth about $250 million.

U.S. stocks drifted around their all-time highs, as a record-setting week for Wall Street closed on a quieter note

Stocks were choppy Friday as market participants took a breather following Thursday's Fed-fueled rally. While buzz continued to swirl around the Federal Reserve's jumbo-sized rate cut from earlier this week, today's headlines centered mostly on single-stock news, including Nike's ( NKE) big C-suite shake-up.

U.S. stocks closed nearly unchanged on Friday following a strong rally, driven by the Federal Reserve's interest-rate cut. Traders speculated on future rate cuts while notable gains by Nike and Intel buoyed the market.

U.S. stocks drifted around their all-time highs, as a record-setting week for Wall Street closed on a quieter note.

A record-setting week for Wall Street closed on a quieter note. U.S. stocks mostly pulled back from their highs hit during a worldwide rally the day before, even as the

Wall Street is leaping toward records as a delayed jubilation sweeps markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 was 1.9% higher in Thursday

U.S. stocks are drifting in early trading after leaping to records the day before as part of a worldwide rally