Athletic-apparel maker Nike (NKE: sentiment, chart, options) threw itself into the Olympics fray today, but the Oregon-based firm didn't do anything so exciting as to offer up an opinion on Tibet. Instead, NKE said that it will extend its sponsorship of the U.S. Olympic and Paralympic teams through the 2012 Games, which will take place in London. As the official outfitter for U.S. teams, Nike provides the athletes with the Medal Stand uniform worn on the awards podium.

In other compelling NKE news, the company recently unveiled its new Hyperdunk shoe, which it developed specifically for the Beijing Olympics. The super-light sneaker will be trotted out by none other than extramarital athlete Kobe Bryant at tonight's Clippers-Lakers game.

Nike shares are more than 2% higher as we roll towards the close. The shares have muscled their way back atop their 10-day moving average for the first time this week.

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