Nike beats Wall Street estimates on increased US sales

Nike Inc's quarterly earnings beat Wall Street estimates as the world's largest athletic footwear and apparel company reported robust US sales and orders growth, sending its shares up 5 percent.

Slowing growth in the United States, the company's largest and most mature market, has concerned Wall Street in recent quarters, but investors took a 3 percent rise in future US orders as good news in a bad economy.

"The key thing that will drive the stock up is futures in the US market," said Susquehanna Financial analyst John Shanley. "Investors are going to be very pleased."