Nike initially rose on earnings that beat on top and bottom line, but sold off over 3% after a particularly troublesome set of conference call comments. NKE sees Q4 Rev growing at a high single-digit rate (below futures rate) due to timing in shipments, and also projects devaluation in emerging currencies to result in significant headwinds on FY15 revenue, GMs, and profit growth. And while China revenue grew on the year in Q3, Q4 performance in the company's second biggest and most critical market was projected to be flat to slightly down.