Nike Stays Swift on Strong Earnings

Here’s what’s hot in the market today: Nike and consulting firm Accenture both rose following strong earnings while Enbridge Energy Partners took a dip after pricing its latest offering. Icagen saw its second day of unusually high trading and Philippine Long Distance Telephone fell after the Supreme Court was petitioned to halt the sale of its parent company.

Nike (NYSE: NKE) was up nearly 7% to around $87 on nearly 5.5 million shares. The shoe and apparel company reported fiscal fourth quarter revenues rose 14% to $5.8 billion and diluted earnings per share were up 17% to $1.24. For its fiscal 2011, revenues nearly met $21 billion and diluted EPS rose 14% to $4.39.

Icagen (NASDAQ: ICGN) saw its second day in a row of unusually high trading as rumors of the pharmaceutical company’s acquisition by Pfizer (NYSE: PFE) persisted. The stock climbed up to nearly $7, an increase of more than 6.6% on 3.5 million shares traded.

Philippine Long Distance Telephone (NYSE: PHI), fell more than 2% to about $54 on trading around twice the normal volume. The Philippines-based telecom fell after human rights lawyer Wilson Gamboa petitioned the U.S. Supreme Court to halt the government’s sale of its nearly 50% stake in PLDT-owner Philippines Telecommunication Investment Corp. to the First Pacific Company (PINK: FPAFY). Gamboa argued the sale violates constitutional limits on foreign ownership in utilities.

Enbridge Energy Partners (NYSE: EEP), the oil and gas transportation company, fell more than 3% to about $29.75 on eight times normal trading volume.� Enbridge priced an offering of 7 million Class A Common at $30.

Accenture (NYSE: ACN) was up more than 3% to $59.70 on nearly 20 million shares. Accenture reported strong earnings for the quarter that ended May 31 with net revenues totaling nearly $7 billion, a 21% increase year-on-year, while diluted EPS grew by 27% to 93-cents. S&P said ACN would replace Marshall & Ilsley (NYSE: MI) in the S&P 500 Index next month, following the completion of Bank of Montreal�s deal to purchase MI.

As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at�@ajohnagnello and�become a fan of�InvestorPlace on Facebook.