Stock Market Slows as Tiger Woods Apologizes


Matt Egan
FoxNEWS.com
February 19, 2010

Editor’s note: Another example of the Disney World character of the world’s largest casino.

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Even Wall Street couldn’t turn away from the surreal Tiger Woods press conference on Friday, with traders on the New York Stock Exchange focusing on the televised apology as trading volume slowed.

Woods, who told the world he will return to golf but isn’t sure when, also appeared to impact individual stocks. Nike (NKE: 64.35, -0.07, -0.11%), the sponsor most closely tied to the sports legend, saw its stock pare its losses after the statement. Shares of Nike, which said in a statement it “fully supports” Tiger, were recently flat at $64.40, off its low of $64.01.

Video game publisher Electronic Arts (ERTS: 16.75, 0.16, 0.96%) saw a more pronounced bump, with its stock jumping from near-session lows of $16.50 before the 11:00 a.m. EST press conference to session highs of $16.87 in afternoon trading. EA Sports, which makes “Tiger Woods PGA Tour,” released a statement from its president, Peter Moore, saying: “”Our strong relationship with Tiger, for more than a decade, remains unchanged.”

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