ADDYY - Under Armour Under Investigation: What Does It Mean for Its Stock?
On Nov. 4, sportswear giant Under Armour (NYSE: UA) (NYSE: UAA) reported better-than-expected third-quarter earnings. The company reported adjusted earnings per share of $0.23 vs. expectations of $0.18. Its revenue totaled $1.43 billion vs. expectations of $1.42 billion. (The results were a bit down from the same quarter 2018 when it reported earnings per share of $0.25 and revenue of $1.44 billion.)
Despite these decent results, its stock sank as much as 15% after its report. (It reached $18.91 Nov. 1 before it reported its earnings, then plunged to $15.44 at closing Nov. 4. Shares of Under Armour have recovered slightly, closing at $17.57 on Nov. 11.)
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