Plus   Neg

Stock Alert: Under Armour Slips 4%

Shares of footwear, sports, and casual apparel maker Under Armour, Inc. (UA) are falling more than 4% Friday morning after the company said it expects Covid-19 to impact its business for the remainder of the year.

Under Armour estimates traffic trends to remain lower for the second half of this year.

However, the company's second-quarter results were better-than-expected. Loss per share on an adjusted basis of $0.31 per share beat the Street estimate for $0.41 loss per share.

Revenue was down 41 per cent to $708 million impacted by COVID-19-induced store closures. The consensus estimate was at $558.52 million.

Under Armour stock is currently trading at $9.77. It has been trading in the range of $6.37- $20.44 in the past 52 weeks.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
A new class-action lawsuit filed against Facebook accuses the company's photo and video-sharing app Instagram of illegally collecting biometric data of as many as 100 million users without their consent, according to reports. The lawsuit filed in a state court in California, alleges that Instagram uses its photo-tagging technology to create a database of users' facial features. Stein Mart, Inc. has joined the ever growing list of U.S. retailers who filed for bankruptcy protection amid the ongoing coronavirus (COVID-19) pandemic. The beleaguered off-price retailer filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Middle District of Florida. United Airlines said it is adding up to 28 daily nonstop flights this winter to Florida, in its efforts to manage the impact of COVID-19. The airline is increasing services to 'destinations where customers most want to fly'. The new round trip services will connect customers in Boston, Cleveland, Indianapolis, Milwaukee, New York/LaGuardia, Pittsburgh and Columbus, Ohio to four popular Florida...
Follow RTT