Nike reported "better-than-expected" quarterly revenue and profit, and indicated "a rebound in its basketball category," according to Sruthi Ramakrishnan of REUTERS. The company's shares were up 1.7% at $52.67 in after-market trading on Tuesday. Nike's basketball business "has come under pressure," particularly from rival Under Armour's NBA player Stephen Curry's signature shoe line. In response, Nike "has redesigned its basketball products and delivered better priced products," such as the Jordan 31 and Kobe A.D. Nike Brand President Trevor Edwards said, "We're seeing incredible momentum in basketball, to be clear, basketball is back." The basketball category accounted for 5.1% of Nike's total wholesale revenue of $27.23B in its financial year ended in May. The Jordan brand, which also sells items primarily focused on basketball, brought in another 10% (REUTERS, 12/21). MARKET WATCH's Tonya Garcia reported analysts are "concerned that flat global futures orders could signal trouble ahead" for Nike. Finance firm Wedbush said, "Management’s comments on improving operating results into the second half of 2017 are encouraging. That said, however, weak futures orders in North America (-4% year-over-year) and globally (0%, +2% on a currency-neutral basis year-over-year) are an important factor to consider as wholesale still comprises over 70% of Nike’s business." Wedbush maintains its neutral rating on Nike. Nike CFO Andrew Campion said that "FX headwinds from further strengthening of the U.S. dollar have put downward pressure on our second half revenue forecast." Cowen & Co. said, "Management believes North America has returned to a pull market by realigning inventory (-4%), which is somewhat surprising given the level of promotions in the marketplace" (MARKET WATCH, 12/21).