STOCKS NEWS EUROPE-Adidas, Puma down after Nike results

Shares in Adidas (ADSG.DE) fall 2.2 percent, making them the top decliners among German large caps .GDAXI, wjile those in German mid-cap .MDAXI listed Puma (PUMG.DE) lose 0.7 percent after U.S. peer Nike (NKE.N) reported a better-than-expected fourth quarter profit but disappointing orders. "The Nike order backlog was down 6 pct and declines in all regions except Americas are a clear indication of a worsening market environment. This is likely to weigh on Adidas shares as it should increase concerns as regards to second-quarter results," says Equinet analyst Ingbert Faust.

"Nike shares declined 4 percent in late trading due to profit taking. This could be a drag on Adidas and Puma shares today. (The two companies) are also facing a tough base and gross margin pressure in the coming quarters," Exane BNP Paribas analyst Andreas Inderst says in a note to clients.

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