The S&P 500’s (SPY) top gainers on April 3 were:
Under Armour is an American company that manufactures footwear, sports, and casual apparel. Under Armour was the S&P 500’s top gainer on April 3. After declining for three consecutive trading weeks, Under Armour regained stability last week. Amid the weak market sentiment, Under Armour declined on Monday and started this week on a weaker note. On April 4, Under Armour opened the day higher and rallied to three-week high price levels.
Data breach and weak sales
Under Armour declined on Monday amid reports about the data breach of its MyFitness Pal app. According to the report by Under Armour, 150 million users’ email addresses, usernames, and passwords were stolen. According to management, users’ payment information was secure. The payment information was collected and processed separately. The declining trend in Under Armour sales in sporting goods stores also added weakness. Following Monday’s sell-off, Under Armour regained strength on Tuesday.
On April 3, Under Armour gained 5.4% and closed the day at $14.75—the highest daily close since March 12. Under Armour is part of the S&P 500 Consumer Discretionary sector, which gained 1.2% on Tuesday.
Next, we’ll discuss the S&P 500’s top losses on April 3.