Nike Details FuelBand Layoffs But Says Digital Sports to Remain Operational

Nike Inc. (NKE) is steady-lower late Monday after it confirms a “small number” of layoffs in its digital sports division, as reported by CNET on Friday, but denies it is closing the hardware operations of that division, named FuelBand.

The confirmation of select layoffs was made to technology news site Recode.net, also on Friday, a day U.S. stocks did not trade.

NKE is little changed near $74 in afternoon trading, but did move within a band of $73.32 and $74.06 so far in Monday’s session. Its 52-week range is $59.11 to $80.26.

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