Organized thieves target freight trains in western deserts, stealing millions in Nike sneakers with sophisticated heist operations.

Sneakers continue to be a huge target for criminals, and according to new reports from the LA Times, nearly $2 million worth of Nike footwear has been stolen from freight trains in California and Arizona within the last year-including pairs of the much-anticipated Nigel Sylvester x Air Jordan 4 collab.

Nike stock gained 2.2% to $78.18 in premarket trading Monday. Over the last 12 months, shares have fallen 27%. The Jefferies team anticipates a recovery in margin and earnings per

Shares of Nike advanced about 5%, one of the best performers in the S&P 500 Monday, after Jefferies raised its recommendation on the stock to buy from hold. The investment bank cited Nike Chief Executive Elliott Hill's strategy to reposition the sportswear brand after years of missteps.

Shares of Nike (NKE) jumped more than 5% on Monday after the sportswear giant got an upgrade from Jefferies praising the company’s recent efforts to revitalise the brand, lifting retail sentiment. Jefferies upgraded Nike to ‘Buy’ from ‘Hold’ with a price target of $115,