Tim Cook buys $3 million worth Nike stock, shares climb 2%

Shares of Nike surged over 2% in pre-market trading on Wednesday after Apple CEO Tim Cook purchased nearly $3 million worth of the sportswear maker's stock. Cook, who serves as Nike's lead independent director, bought 50,000 shares at $58.97 each, according to a regulatory filing. Earlier this month, Nike reported weak sales in China, causing its shares to drop.