Callaway Golf Stock Jumps in Wake of Nike Golf News

Callaway Golf Stock Jumps in Wake of Nike Golf News

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CALLAWAY COMFORT TRAC, $120; callawaygolf.com Not only does the spikeless Comfort Trac come with a two-year limited waterproof warranty, it also comes with a 30-day fit, comfort and cushioning guarantee. Also included: a foam padded tongue and collar.
Courtesy of Callaway

Nike Golf’s surprising announcement Wednesday afternoon that it will exit the club-making business prompts the question: who or what will be reap the benefits of Nike’s absence?

Right now, Callaway is. As of Thursday morning, Callaway’s stock had risen 6.5%, before regressing to near 4% Thursday afternoon. Elsewhere, Keating, which owns Cobra-Puma, declined insubstantially. Under Armour? Barely. Its stock has nudged upward by a mere 0.15 percent. As for Titleist? The Acushnet owned company has been pursuing an IPO offering since June.

Curiously, Nike stock did not falter, wavering near it’s opening value throughout most of the day.