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Wall Street Sentiment Is Mixed amid Tax Cut Plan and Earnings

PART:
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Part 2
Wall Street Sentiment Is Mixed amid Tax Cut Plan and Earnings PART 2 OF 3

Under Armour: Top Gainer in the S&P 500 on April 27

Top gainers and losers in the S&P 500

The top gainers in the S&P 500 on April 27 were:

  • Under Armour (UAA) rose 9.9%.
  • Under Armour Inc Class C Comm (UA) rose 9.3%.
  • Intuit (INTU) rose 8.5%.
  • Xilinx (XLNX) rose 7.4%.
  • PayPal Holdings (PYPL) rose 6.2%.

The top losers in the S&P 500 on April 27 were:

  • Teradata (TDC) fell 8.2%.
  • F5 Networks (FFIV) fell 7.5%.
  • EQT (EQT) fell 7.1%.
  • TechnipFMC (FTI) fell 6.4%.
  • Zimmer-Biomet Holdings (ZBH) fell 5.8%.

Under Armour: Top Gainer in the S&amp;P 500 on April 27

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Under Armour’s revenue

Under Armour manufactures footwear, sports, and casual apparel. It rose on Thursday after the release of its 1Q17 earnings report. Under Armour reported a loss of $0.01 per share in the first quarter, which is better than the expected loss of $0.04 per share. Under Armour had a net loss of $2.3 million—its first quarterly loss. Under Armour also beat revenue estimates. According to the report, Under Armour’s 1Q17 revenue was $1.12 billion—better than the expectation of $1.11 billion. Under Armour’s revenue rose 7% year-over-year. The company’s net sales grew 6.6% in 1Q17, which is the slowest growth in almost eight years. Despite posting a quarterly loss, Under Armour rose because the market was expecting worse numbers.

Under Armour’s divisions

Under Armour’s accessories unit grew 12% in the first quarter, while the apparel division grew 7%. The revenue from footwear improved 2% in the first quarter, which isn’t encouraging. The footwear division grew 64% in 1Q16. According to analysts, the lack of innovation in Under Armour footwear models and strong competition from its peers like Nike decreased the footwear division’s growth.

On April 27, Under Armour rose 9.9% to $21.64—the highest close in two months. In the next part, we’ll discuss how the US dollar and Treasury yields are performing in the early hours on Friday.

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