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Under Armour Sharply Lower After Mixed Q3 Report, Guidance Cut

By Insider Scoop
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Courtesy of Benzinga.

Under Armour (NYSE: UAA) shares are trading lower by $2.90, or nearly 18 percent, at $13.51 in Tuesday’s session.

The catalyst for the decline is a mixed Q3 report that revealed an EPS beat of 2 cents, but on lower sales by $74 million. The company halved its FY 2017 guidance.

Related: Under Armour’s Weak Q3 Leaves Investors With 3 Concerns

After a much lower open, Under Armour did manage a slight bounce to $14.44 before continuing its move lower. It has continued to make new lows for the session with the current one standing at $13.41 as of 1:48 p.m. EST. That marks the lowest level for the stock since April 2013, when it bottomed at $12.57.

Posted-In: Technicals Intraday Update Movers Trading Ideas

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